A record number of individuals have filed their tax returns online for the year ending 5th April 2019. Most managed to do so with plenty of time to spare, although around 26,000 squeezed their submissions in between 11pm and midnight on the deadline day - 31st January 2020. But, despite these record numbers, according to HMRC projections a staggering 958,296 taxpayers missed the deadline completely. This represents 8.18% of those expected to submit returns!
Failing to submit on time can be an expensive business. Without a reasonable excuse, an initial £100 fine is levied, then penalties of £10 per day will start to apply for those who have still not submitted their returns within three months of the initial deadline.
If you are one of those 958,296 who haven’t submitted a return for the tax year ending 5th April 2019, don’t delay any further. The quickest way to get this done and minimise any future penalties is to send everything to us and we’ll get to work straight away so that you don’t incur future fines after the next three months deadline has passed. And if you believe you do have a genuine reason for delaying your return (there are some!) then again, please check with us. We are happy to help!
Chris Leslie, Tax Senior