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Online Self Assessments

Self Assessments online filing

HM Revenue & Customs are thanking all customers who filed their Self Assessment tax returns by the 31st January deadline. A record breaking 11.1 million returns were received including 10.4 million online Self Assessment returns.

About 11.7 million customers were required to file their 2018 to 2019 tax returns by 11.59pm on 31 January. More than 700,000 submitted their tax returns on deadline day, the peak hour for filing was between 4pm to 4:59pm when 56,969 filed.

Thousands of customers filed their tax returns at the last minute, with 26,562 completing their returns from 11pm to 11:59pm on Friday 31 January 2020.

Customers who have missed the deadline should contact HM Revenue & Customs The department will treat those with genuine excuses leniently, as it focuses penalties on those who persistently fail to complete their tax returns and deliberate tax evaders. The excuse must be genuine and HMRC may ask for evidence.

Penalties for tax returns

The penalties for late tax returns are:

  • an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
  • after 3 months, additional daily penalties of £10 per day may be charged, up to a maximum of £900
  • 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
  • 12 months, another 5% or £300 charge, whichever is greater
  • there are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months

If you have missed the deadline or would like further advice on Self Assessment contact AJR & Co. Ltd to arrange a free 30 minute consultation.