By Jonathan London on 3rd February 2015

Total of 890,000 facing fines for missing tax deadline

A worrying amount of people are now facing fines due to missing Saturday’s (January 31st) self-assessment tax return deadline.

While HM Revenue & Customs (HMRC) actually saw the most people ever submit their returns online this year, with 10.24 million being returned by midnight, a total of 890,000 are now facing a £100 fine for missing the tax deadline.

Although this number is undoubtedly significant, it is not as high as the 2010 record which saw an astounding 1.6 million fail to return theirs.

It is perhaps of little surprise that the busiest days for filing returns digitally was January 30th and 31st, with the busiest hour being between 13.00GMT and 14.00GMT on the 30th. There was an impressive 50,000 returns submitted within the hour, equating to a whopping 830 per minute!

Those who waited until the last minute and decided to submit theirs on deadline day were more likely to have done so just before lunch with the busiest hour being between 11.00GMT and 12.00GMT. Almost 32,000 returns were received, at 530 per minute.

HMRC’s director general of personal tax, Ruth Owen, said: This is another record-breaking year for Self Assessment, with 210,000 more people filing their returns on time than last year.…

For the 890,000 who did not submit theirs on time, as well as the initial £100 fine, HMRC adds further penalties after three, six and 12 months, meaning that this amount could soon snowball should they not get their affairs in order as soon as possible.

Ms Owen added: We’re grateful to the overwhelming majority of people who sent their returns on time. If you’re one of the minority who missed the deadline, you still need to get your tax return to us as soon as possible, to avoid further penalties and interest mounting up.…

If you have yet to submit your returns, Boox can offer you the best advice on what your next steps should be.

Jonathan London Written by Jonathan London

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