Millions Still to File Self-Assessment Tax Returns, Says HMRC
There are still millions of people yet to file their tax returns ahead of the deadline for self-assessments on January 31st.
In fact, according to HMRC, with around a week to go until that deadline passes there are still more than three million people who need to file a return this year but haven’t.
Anyone who fails to get their self-assessment return in on time via HMRC’s online system faces being hit with a £100 penalty fine, which will then incur additional charges at a rate of £10 per day from the end of April.
Roughly 700,000 taxpayers missed the deadline for online returns at the end of January 2019, with HMRC expecting a similar number of people to receive fines again this year.
In exceptional circumstances, HMRC will accept excuses given to them for late returns but generally the £100 penalty fines do end up having to be paid by anyone in receipt of them.
The number of people who need to fill out self-assessment tax returns has been on the rise in recent years, with between 11.5 million and 12 million individuals now in that situation with self-employment becoming an increasingly common way of working across the country.
HMRC has been urging anyone who is yet to submit their self-assessment tax returns via the relevant channels to do so as soon as they possibly can.
“The deadline is fast approaching,” said financial secretary to the Treasury Jesse Norman MP.
“With only one week until the 31 January deadline, HMRC strongly encourages people to file their self-assessment.
“Anyone who believes they might not be able to file on time should make sure to call or email HMRC.”
A separate but related issue that the authorities have been focussing on in recent months is that of fraudulent activity involving fake offers of tax refunds, with scammers sending out dodgy emails and text messages to unsuspecting individuals across the country.
The problem is understood to have become very widespread indeed with HMRC having now received in the region of 900,000 reports of suspicious phone calls, texts and emails making claims about tax returns.
