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A total of 9.45 million self assessment (SA) tax returns were filed on time this year – the equivalent of 90.4% of taxpayers – and a record 7.65 million, 80.9% of all submissions, were done so digitally, HMRC have announced.
The busiest day for online returns was 31 January, when the Revenue received nearly 445,000 submissions, the rush hour occurring between 4pm and 5pm, when 37,460 returns were filed.
The Revenue has also issued a reminder of new penalties for late SA returns:
- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due was paid on time;
- after three months, additional daily penalties of £10 a day, up to a maximum of £900;
- after six months, a further penalty of 5% of the tax due or £300, whichever is greater; and
- after 12 months, another 5% or £300 charge, whichever is greater. In serious cases, the penalty after 12 months can be up to 100% of the tax due.
There are updated fines for paying tax late: 5% of the tax unpaid at 30 days, six months and 12 months.
HMRC said they are aware some people in SA should not be so. Taxpayers will be invited through the department's correspondence and advertising to provide basic information that will help tax officials assess whether SA is necessary.
If the taxpayer does not need to complete a return, the individual or business will be taken out of SA and the Revenue will cancel any penalty incurred.
