News: 2nd January 2014

HMRC reports increase in Christmas Day online tax returns

HMRC reports increase in Christmas Day online tax returns

HM Revenue and Customs (HMRC) has confirmed a one per cent year-on-year increase in the number of online tax returns filed on Christmas Day.
 
It was revealed that 1,566 people found the time to file their 2012/13 online tax return during their Christmas Day festivities, compared with the 1,548 people who filed online on Christmas Day in 2012.
 
The busiest filing hour throughout Christmas Day was surprisingly just before the lunchtime, from midday to 1pm, with 144 people submitting their completed return before sitting down to enjoy the festivities and watch the Queen’s speech.
 
This surprising number who submitted their tax returns on Christmas Day followed 17,000 individuals who submitted their tax returns online on Christmas Eve; a 19 per cent increase on the 14,330 returns received on Christmas Eve in 2012.
 
The only day during the festive season to experience a fall in the number of year-on-year online tax return submissions was Boxing Day. Another 4,493 people filed online during Boxing Day, a four per cent fall from the 4,685 received on Boxing Day in 2012.
 
In total however, 23,059 online returns were received over the three-day period – a 12 per cent overall increase on the 2012 total of 20,563.
 
The deadline for filing 2012/13 online tax returns to HMRC, and paying any tax owed, is 31st January 2014. The deadline has now passed for taxpayers owing less than £3,000, wishing for HMRC to collect the tax they owe through next year’s tax code.
 
Around 10.9 million people are expected to fill out a Self-Assessment return for the 2012/13 tax year.
 
Those who miss the 31st January 2014 deadline for tax owed from 2012/13 will be hit with an instant £100 fixed penalty, which applies even if there is no tax to pay.



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