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Men more likely to submit tax returns on time

Men appear to have come out on top in the battle of the taxes with new figures revealed by HM Revenue & Customs (HMRC) indicating that male taxpayers are more likely to file their self-assessment tax returns on time than their female counterparts.

Just 294 of every 10,000 tax returns completed were filed late by men, while 303 of every 10,000 tax returns were submitted late by women.

HMRC discovered that it’s not only gender which can influence whether an individual will miss the 31st January deadline for online self-assessment tax returns: age can also play a part.

Just 118 of every 10,000 tax returns were filed late by those aged 65 and over, making them top of the class. However, those aged 18-20-years-old are much more likely to miss the deadline with almost a tenth of tax returns overdue on average.

The likelihood of late tax returns can also depend on the industry a professional works in. The most organised industry is the agriculture, fishing and forestry industry, with just 71 in every 10,000 tax returns filed late. Lawyers and accountants rank close behind in second with just 147 late returns for every 10,000 tax returns submitted.

Those working in the administrative and support services are said to be most likely to file their self-assessment returns beyond the 31st January deadline, with 359 of every 10,000 tax returns overdue.

Looking geographically, taxpayers residing in Northern Ireland are the most likely to submit their tax return on time with only 223 of every 10,000 tax returns filed late, followed by Wales (259 per 10,000) and Scotland (291 per 10,000). English taxpayers were the biggest culprits for late returns (297 per 10,000).

Ruth Owen, Director General of Personal Tax at HMRC, said: “It doesn’t matter if you’re a man or woman, young or old, whether you live in Newcastle or Cardiff, - if you need to complete a tax return, you need to do it now.

“Our online service has a wide range of resources to help taxpayers complete their tax return and can be accessed 24-hours a day to suit everyone’s working pattern.

“Our advice is not to leave it until the 11th hour – act now to prevent getting caught up in a last-minute rush.”

If you’re self-employed or a small business owner, your local TaxAssist Accountant can work with you to accurately calculate your tax liabilities, prepare and submit your tax return to HMRC with minimal hassle; allowing you to concentrate firmly on the running of your business.

If you’d like minimise your risk of an HMRC investigation into your tax affairs, talk to your local TaxAssist Accountant today on 0800 0523 555 or drop us a line using our online enquiry form.

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