Self Assessment: less than one month to file tax return

Photo: HMRC

More than 12 million are expected to file a tax return for the 2021 to 2022 tax year by 31 January 2023

Almost 5.7 million Self Assessment taxpayers still need to file their tax return before the deadline on 31 January, according to HM Revenue and Customs (HMRC).

More than 12 million people in total are expected to file a tax return for the 2021 to 2022 tax year and this needs to be done online before 31 January 2023 to avoid a penalty.

HMRC has revealed that of the 42,500 people who submitted their return on 31 December and 1 January, 129 people submitted theirs on 1 January between midnight and 12.59am.

• New Year’s Eve: 25,043 tax returns were filed. The peak time for filing was between 2pm and 2.59pm, when 2,713 returns were received.
• New Year’s Day: 17,571 tax returns were filed. The peak time for filing was between 3pm and 3.59pm, when 1,697 returns were received.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “There is less than one month for customers to submit their tax returns and my message to those yet to start is: don’t delay, do it online.

“HMRC provides lots of useful information to help you get started. Visit GOV.UK and search ‘Self Assessment’.”

The deadline to submit a paper return has passed and tax returns can only be submitted online. Anyone who files after 31 January may face a penalty.

Self Assessment customers can submit their tax returns and pay any tax owed online at GOV.UK.

Those who provide HMRC with a reasonable excuse before the 31 January deadline can avoid a penalty after this date. 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, up to a maximum of £900
• after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
• after 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.

Customers need to pay any tax owed by the 31 January deadline. Information about the different ways to pay, including via the HMRC app, can be found on GOV.UK.