HMRC announced yesterday that 2.8 million people were still to file their tax returns.
The final deadline is midnight on Friday 31st January. This time last year around 578,000 filed on the last day.
HMRC’s Director General of Personal Tax, Ruth Owen, said:
There’s not much time left, so make a start on your tax return today. Leave it too late, and you’ll be hit with a penalty.
It is reported 8.3 million self assessment tax return forms have been sent in so far.
Filling in a tax return is normally for the self employed, high net individuals and for the employed who have job expenses over £2500. Due to changes in the child benefit system the 2012-2013 tax year has meant higher rate earners who claim child benefit, will also need to fill in a return.
Estimates show that in the region of 103,000 parents who are in this situation still have to file their tax return online.
Self Assessment Tax Return Fines
If you miss the deadline you will incur a late penalty fine of £100. This fine will be payable even if you don’t owe any income tax.
If you delay sending in your tax return longer the late penalties get higher the longer you leave it. You could easily have penalties in excess of £1600 if your return isn’t submitted within 12 months of the deadline.
