HMRC have announced that 94% of tax returns were filed by the 31st January deadline.
But, here at Nordens, we’re delighted to say that 99.86% of our clients’ tax returns were filed by the deadline!
So we’d like to say a really big THANK YOU to our clients for submitting their paperwork early, and also a huge well done to the fantastic teams at Nordens for making it happen.
The bigger picture
More than 11.5 million taxpayers were required to file their tax returns by 11.59pm on 31 January. Most filed on time, but 700,000 people missed the deadline. The number of taxpayers who filed online reached more than 10 million for the first time. (If you’re not filing on line and you should be, our specialist bookkeeping service, Accounting2You can help. Click here to find out more!)
Some Self Assessment facts
- 11,564,363 total SA returns were due by the 31/01/19 deadline
- HMRC received 10,833,177 returns (93.68%)
- 10,129,234 of t these were filed online (93.5% of the total filed)
- 731,186 taxpayers missed the deadline
- 735,258 taxpayers filed their returns on deadline day: 31 January – with 60,000 filed between 4-5pm!
And in case you were among the 6% who didn’t make it on time, the penalties for late tax returns are:
- an initial £100 fixed penalty, which applies even if there is no tax to pay
- after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
- after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
- after 12 months, another 5% or £300 charge, whichever is greater.
- There are also additional penalties for paying late.
If you missed the boat this year, make sure you’re on top of your taxes for next time. Give us a call and we’ll explain how easy it can be with our help – ring us on 020 8530 0720, email firstname.lastname@example.org or get in touch via social media.