More Taxpayers on Time

Record number of people file their tax returns on time

A record number 9.61 million people filed their 2012 tax returns on time according to HMRC, whether that was on or before 31st October 2012 (paper tax returns) or 31st January 2013 (electronic filing) deadlines. All this meant that 93% of those individuals required to file a tax return did so without incurring the automatic £100 late filing penalty.

A further record was achieved for online filling, with 7.93 million returns being filed by internet, representing 82.5% of total Self Assessment tax returns filed on time. Paper returns made up the remaining 1.68 million (17.5%).

Not surprisingly, the 31st January was still the busiest day for filing, with HMRC receiving 578,000 tax returns. Between 16:00 – 17:00 that day, HMRC received 46,000 returns, more than 12 per second.

A good number of people achieved HMRC's publicised “inner peace” before January by finishing off and filing their tax returns over the Christmas period:

From the outset of April last year 10.6 million people were told they needed to complete a Self Assessment tax return but this was whittled down to 10.34 million after more than 300,00 people contacted HMRC to inform the Revenue that they should not be in the Self Assessment system and were subsequently relieved of this duty.

Those taxpayers who have yet to file their tax returns will already have incurred the £100 fixed penalty but they should act now as the penalties increase after 3, 6 and 12 months.