Self Assessment Deadline: 55% of returns in (HMRC)

Around 5.4 million self assessment tax returns are still outstanding, and have less than a month to submit.

HMRC expects 12.1 million tax returns to be filed for the 2019/20 financial year, with 6.2 million (55%) already being returned – of which 93% were done online.

On 1 January, 18,000 individuals decided to submit their tax returns, with the largest number submitted between 15:00 and 15:59.

HMRC are also allowing for payment plans to be setup online. If you’re unable to make your full payment by 31 January, you can setup a payment plan to spread the cost of your tax bill – HMRC will only charge interest (2.6%) on the amount due.

Key Facts:

  • 12.1 million total Self Assessment returns due
  • 6.6 million returns received, as at 4 January 2021
  • 5.4 million returns still to file, as at 4 January 2021
  • 6.2 million returns, as at 4 January 2021, filed online (93% of total filed)
  • 450,000 returns, as at 4 January 2021, filed on paper (7% of total filed)

Support to send returns

If you haven’t yet sent your return and need help preparing your business accounts, checkout the Malgra Tax Return Hub