Jonathan Yeomans, tax technical officer at untied, the UKs personal tax app, commented on HMRC’s figures today showing that 63,500 people filed their tax return on 6 April:
“Getting your taxes filed on time is vital if you want to avoid an HMRC fine. However, more than 63,500 individuals in the UK took this guidance to the extreme last month when they filed their returns on the very first day of the tax year.
“These figures go to show that some individuals like to get their tax admin out of the way as soon as they can. It certainly beats the usual last minute rush in January! The good thing about filing your taxes early is that you don’t have to pay HMRC any earlier – it just gives you up to ten months to budget for your tax bill. It can also be used as a basis to justify a claim to reduce any payments on account in July 2021. Several of our own users filed their returns on 6 April via the untied app, with our first 2020/21 tax return coming in at 3.36am. It’s a great feeling to wake up and see that people have been using untied overnight as the process is so easy.”
According to HMRC figures, there were still around 1.1 million 2019/20 self-assessment tax returns outstanding at the beginning of March 2021. This was nearly 10% of all expected tax returns. The average over the previous three years was only 7%.
For further information:
Chantal Heckford email@example.com