If you’re one of the millions of people that hasn’t yet filed their tax return for 20/21, are you thinking about doing it over the festive period?
It’s been a difficult year for many people, so we really hope that people do take some time to themselves over Christmas. Still it’s clear that some people see it as a good time to put tax ahead of telly and turkey, providing confidence, comfort and control going into the new year.
Our analysis shows that 3,000 self-assessment tax returns are expected to be filed on Christmas Day this year, plus a further 17,000 on New Year’s Day. Around 310,000 people are likely to file their tax returns between now and the end of December.
Nearly 12 million people need to file an annual tax return which means that only 54% of individuals will have completed their mandatory self-assessment forms before the start of 2022. This leaves five million people to file in the last four weeks before the deadline of midnight on 31 January.
Figures indicated that every day in January between 30,000 and 700,000 people scramble to submit their forms in time and nearly a million miss the deadline and get a penalty.
Our advice is simply to get started and fill in what you know as soon as possible. That will give you momentum. If you’re using untied a lot of this will be done automatically. If it’s your first time, don’t be afraid – there’s lots of support for you. And remember, if you need to contact HMRC for any reason, phonelines through to the helpdesk get busier the nearer to 31 January you are.
untied is about making taxes quick and easy. Just give us a shout on www.untied.io.