With the deadline for completing your Self Assessment having passed, not everyone filed on time. If you are one of these then you will have incurred an immediate fine of £100.
HMRC have revealed that 958,296 taxpayers (8.18% of the returns due) who were due to file their tax return have not done so. A slightly better figure than 2019 which just topped 1 million.
702,171 left it until the last day, with the peak time when people were submitting was between 4pm and 4.59pm when 56,969 returns were submitted. 26,562 were filed between 11pm and 11.59pm, leaving it rather late but still on time.
At the beginning of the year HMRC stated that 5 million need to be submitted with 3 million still needing submission in the last week.
HMRC were pleased that more than 10.4 million taxpayers chose to file online, which accounted for 93.95% of the total filed.
If you still need to submit your Self-Assessment, plus need to pay any taxes due, then it is important that you do so as soon as possible so that £100 fine mentioned above does to increase further. You have 3 months i.e 1st May before additional charges are incurred but after this date it is a daily charge and these increase with time. Our blog of last year highlights in more detail what these charges are.
You can appeal against some penalties, but you need to have a reasonable excuse such as,
- partner or close relative passed away shortly before the tax return or payment deadline
- no payments were required
- an unexpected stay in hospital
- delays related to a disability you have etc.
Excuses that have not been accepted over the previous decade are,
- my hamster ate my post
- a DJ was too busy with a party lifestyle – spinning the decks….in a bowls club
- my mother in law was a witch and put a curse on me
- I was up a mountain in Wales, and couldn’t find a post box or get an internet signal
If you need help with still submitting your Self Assessment then contact us on 0113 286 4486.
Source: Accounting Web, GOV.UK & GOV.UK
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