9.61 million tax returns filed in time for the 31st January 2013 online deadline

9.61 million tax returns filed in time for the 31st January 2013 online deadline

February 1st 2013 2:00 pm

general

A few figures have been released by HMRC for yesterday's online tax return submission deadline. Around 10.6 million people ...

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A few figures have been released by HMRC for yesterday's online tax return submission deadline. Around 10.6 million people were sent notices to complete a tax return for income during 2011/2012 tax year. 300,000 people requested their tax return to be cancelled as they did not have a reason to be self assessed. So, leaving behind around 10.34 million self assessment tax returns to be with HMRC by the 31st  January then.

How many tax returns were filed?

A total of 9.61 million of the required tax returns were filed on time. Prior to the 31st October 2012 paper deadline, 1.68 million (17.5 % of total received on time) were filed. By yesterday, 31st January, 7.93 million (remaining 82.5 % of total received) were submitted online. As usual the rush to submit on deadline day meant the 31st January was again the busiest submission period. 578,000 returns were sent, with 46,000 being submitted during 4pm and 5pm!

Around 730,000 tax returns still to be submitted

The remaining outstanding tax returns are now subject to a fixed £100 late penalty, even if no tax is due on the return or paid on time. If three months from now no return is submitted then an additional £10 per day, up to a £900 maximum can be applied. Six months after this point a 5% surcharge on the tax due is made or £300, whichever is larger. If a return is still outstanding 12 months from now, another 5% surcharge is applied.  

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