A record 97% of taxpayers in the UK filed their 2021-22 self-assessment tax returns ahead of the 31st January deadline, but an estimated 600,000 still missed the deadline, earning instant £100 late filing penalties. Of the 12,060,872 self-assessment tax returns due for the 2021-22 financial year, 11,733,465 were filed on time. Of those, 3,275 were filed on Christmas Day, with the peak hour on 31st January being 4-5pm, when 68,462 returns were received by HM Revenue and Customs (HMRC). The deadline for filing paper tax returns was 31st October, but 10,965,993 taxpayers chose to complete their forms electronically, representing 96.2% of all tax returns filed, by the January cut-off date. Andy Gibbs, Head of Group Technical at TaxAssist Accountants, said: “If you have missed the deadline to submit a 2021-22 self-assessment tax return, it’s vital that you contact your accountant or HMRC as soon as you can. “They will be able to work out if you have a legitimate reason for failing to meet your self-assessment obligations on time. “If you don’t have a reasonable excuse an accountant can work with you to prepare your tax return as soon as possible to avoid accumulating further late filing penalties. “It may be that you are not required to file a tax return, meaning your accountant can help you cancel any filing requirements.” Self-assessment tax returns in figures • 12,060,872 self-assessment tax returns due for 2021-22 • HMRC estimates 600,000 taxpayers missed the deadline • 11,733,465 (97.3%) returns received by 31st January, including expected returns, unsolicited returns and late registrations • 10,965,993 returns were filed online (96.2% of returns expected, following adjustments) • 385,296 paper tax returns were filed (3.4% of returns expected, following adjustments)
