Over a MILLION fail to submit Self Assessment tax return before deadline, reveals HMRC

Image credit: HMRC

HM Revenue and Customs (HMRC) has reported a staggering number of 11.5 million taxpayers who successfully filed their Self Assessment tax returns for the 2022 to 2023 tax year by the deadline of midnight on 31 January.

However, an estimated 1.1 million customers missed this crucial deadline, raising concerns about potential penalties.

The latest figures from HMRC indicate a record-breaking compliance rate, with more than 12.1 million taxpayers expected to file a tax return and settle any taxes due.

Yesterday saw a flurry of last-minute submissions, with 778,068 taxpayers filing their returns on the deadline day itself. Notably, the peak hour for filing was between 4pm and 4.59pm, with 61,549 customers completing their submissions during this period. Additionally, 32,958 individuals raced against time, submitting their returns in the final hour between 11pm and 11.59pm.

In light of these statistics, HMRC is actively encouraging those who have missed the deadline to submit their tax returns as soon as possible.

HMRC imposes late filing and late payment penalties for those who fail to meet the 31 January deadline.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “Thank you to the millions of Self Assessment customers and agents who met the deadline. Anyone who has yet to file and is concerned that they cannot pay in full may be able to spread the cost of what they owe with a payment plan. Search ‘pay your Self Assessment’ on GOV.UK to find out more.”

Bradley Post, MD of RIFT, was however critical of HMRC and the scale of the late filers. He said: “A record number of people are now completing a self assessment tax return and the majority managed to do so before the 31st January deadline expired, albeit some only made it by the skin of their teeth.

"However, 1.1 million people also missed the deadline and now face an initial £100 fine which will start to ramp up should they fail to complete their self assessment within the next three months. 

"This equates to an increase of 100,000 more people missing the deadline versus last year with HMRC expected to dish out fines to the tune of at least £110 million. 

"It’s fair to say that many taxpayers will feel aggrieved at this given that there has been less support from HMRC in the run up to the self assessment deadline. 

"Just recently, HMRC made the decision to close their helpline ahead of the January self assessment deadline, with those in need of advice left to use HMRC’s online chat service. 

"This move has now potentially impacted over a million people, many of whom will have been undertaking the task of completing a self-assessment for the first time.”"