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1.8 million still to file self assessment returns

The self assessment deadline on 31 January was missed by 1.8 million taxpayers, according to figures from HMRC.

03 Feb 2021

The self assessment deadline on 31 January was missed by 1.8 million taxpayers, according to figures from HMRC.

However, those with a late tax return will not be charged a late filing penalty provided they submit their return online by 28 February.

HMRC's data showed that over 10.7 million people did submit their 2019/20 self assessment tax returns by the 31 January deadline.

The tax authority also warned that those who did not pay their self assessment tax bill by 31 January are now incurring interest on the outstanding balance and should pay their bill as soon as possible. It says taxpayers should pay any outstanding balance or arrange a payment plan before 3 March 2021 to avoid a 5% late payment penalty.

Those who are not yet able to file their tax return should pay an estimated amount as soon as possible, which will minimise any interest and late payment penalty.

Commenting on the data, Karl Khan, HMRC's Interim Director General for Customer Services, said: 'Thank you to the 10.7 million customers who have sent in their tax returns. We won't send anyone a late filing penalty if they complete their tax return by 28 February.

'We know that many individuals and small businesses are finding it harder to pay this year, due to the pandemic. Anyone who can't afford to pay their tax bill in full can set up a payment plan, once they've filed their return, to spread their tax bill into monthly instalments.'

Please contact us if you require any assistance with self assessment.

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020 7794 5757

Numera, 4th Floor Charles House, 108-110 Finchley Road, London NW3 5JJ

Numera is a trading name of Numera Partners LLP | Company Registration No. OC365787 | Place of Registration: England & Wales | Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

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Numera is a newly established forward-thinking firm of chartered accountants, with over 25 years in experience of audit, accountancy, taxation and business advisory services.

We work with clients in a large variety of industries and sectors; from sole traders to multi-million pound turnover organisations. We aim to create and maintain a close relationship with our clients. By being so involved, we are able to identify opportunities for our clients as well as possible risks that our clients may be faced with.

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