Posted by Nick Day on 17 Feb 2012
A Record Number of On-Time Taxpayers
Her Majesty’s Revenue and Customs (HMRC) has said that taxpayers meeting the filing deadlines on-time this year were the highest since HMRC was created.
Some 9.4 million, or 90.4 per cent of taxpayers managed to file their 2010-2011 Tax Return on time and avoid incurring late filing penalties. This compared to only 79 per cent last year.
Due to industrial action, HMRC moved the deadline to the 2nd of February, but this did not prevent the 31st of January from being the busiest online filing day. Some 445,000 returns were received this day, with 37,460 of those being filed between 4pm and 5pm – a rate of one every 6 seconds!
Exchequer Secretary to the Treasury David Gauke said:
“I’m delighted so many people filed their tax returns online this year. The record number proves that it’s quick, easy and secure to do.
1 Million Taxpayers Late
Despite the record hand-in on-time filing, the 1 million taxpayers who failed to pay do so face an automatic £100 penalty, and subsequent daily charges of £10 will start to accrue 3 months after the 2nd February deadline.
It will be interesting to see whether HMRC’s systems generate automatic penalty notices where Returns were filed on the extended deadline dates of 1st/2nd February. If so, the notices should be appealed.
- New Offshore Bank Accounts for Expat Employees
- Employee-Ownership Trusts
- Charging Capital Gains Tax on Non-UK Residents & UK Property
- Penalties for Late Tax Returns
- Commonwealth Games – non-resident tax exemption