04 Jan 2019
Data published by HMRC has revealed that more than 10,000 self assessment tax returns were filed over the festive period.
According to HMRC, 2,616 individuals filed their return on Christmas Day, with the peak filing hour proving to be between 1pm and 2pm.
Meanwhile, 8,465 taxpayers submitted their tax return on Boxing Day, with the majority of returns being filed between 8am and 4pm.
More than 11 million taxpayers are required to complete and file their self assessment tax return by 31 January 2019. HMRC recently urged the 5.5 million taxpayers who have not yet submitted their tax return to do so before this time.
Angela MacDonald, Director General for Customer Services at HMRC, said: 'The self assessment deadline on 31 January is fast approaching, but there is still time for customers to file their tax returns online and on time to avoid any unnecessary penalties.'
Those who are late in submitting their return face a penalty of £100, even if there is no tax to pay, or if the tax has been paid on time. Additional penalties are due for continued late payments and late filing.
As your accountants, we can assist you in preparing and filing your self assessment tax returns – please contact us for more information.