11.5m taxpayers file returns on time but 1.1m face charge after missing deadline
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More than 11.5 million taxpayers filed their self-assessment tax returns on time, but an estimated 1.1 million people missed Friday’s deadline, HM Revenue & Customs (HMRC) has said.
Some 11,509,810 returns were received by the midnight deadline on January 31, with those who missed the deadline now facing a £100 penalty.
Thousands of people submitted their return with minutes left to go, with 31,442 returns filed between 11pm and 11.59pm.
In total, 732,498 people filed their return on deadline day.
HMRC is urging anyone who has missed the deadline to file their tax return now and pay any tax owed. It said one of the quickest ways to pay is via its app.
I’m urging anyone who missed the deadline to submit their return as soon as possible to avoid any further penalties
Myrtle Lloyd, HM Revenue & Customs
Those who cannot pay their tax bill in full may be able to set up “time to pay” arrangements.
Myrtle Lloyd, HMRC’s director-general for customer services, said: “I’m urging anyone who missed the deadline to submit their return as soon as possible to avoid any further penalties.”
Penalties for those who missed the deadline include an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time.
The initial penalty can be followed by, after three months, additional daily penalties of £10 per day, up to a maximum of £900.
After six months, there could be a further penalty of 5% of the tax due or £300, whichever is higher, and after 12 months another 5% or £300 charge, whichever is greater.
There are also additional penalties for paying late – 5% of the tax unpaid at 30 days, six months and 12 months. Interest will also be charged on any tax paid late, HMRC said.
HMRC estimates that 1.1 million people failed to file by the deadline risking £100 late filing penalties, a potential windfall for the taxman of £110 million
Charlene Young, pensions and savings expert at AJ Bell
This year’s figure is down on the number of returns received before the deadline last year. Some 11,581,962 returns were received for the 2022-2023 tax year by January 31 2024.
Charlene Young, a pensions and savings expert at AJ Bell, said: “HMRC estimates that 1.1 million people failed to file by the deadline risking £100 late filing penalties, a potential windfall for the taxman of £110 million.”
She added: “After Barclays suffered a systems-wide outage on Friday January 31, some taxpayers who held on to their cash until the last minute or were waiting for payday could have found they were unable to send money.
“HMRC is said to be working with Barclays and reassured those genuinely affected will be able to appeal any late payment fines through the usual channels.”
