New tax record set by UK


6th February 2013

Thursday of last week was a major rush to get all the online self assessment tax returns in on time, and according to data from Accountancy Age, we have seen record breaking numbers of files returned in time for 2011/2012.

9.61 million people managed to meet the deadline avoiding the £100 instant fine that the 730,000 late returners will have received. Of the 9.61 million people who have filed their returns online, 82.5% of them did their returns online, leaving just 17.5% filing their returns using the paper method. The interent really is beginning to take over most aspects of our lives!

Fun facts:

  •     A shocking 1,548 filed their returns on Christmas Day!
  •     4,685 followed suit on Boxing Day.
  •     Another 27,161 filed online on New Year's Eve.
  •     Followed by 12,077 on New Year's Day!

Looks like we don't all pack work in over the festive period!

Useful information for LATE Returns

On top of the £100 instant fine, a daily fine of £10 is added up to the value of £900 (if you have not paid up to three months after the deadline). Should six months go by with no payment, an additional penalty of £300 or 5% is imposed, depending on which one higher. After a year, a further £300 or 100% of tax owed is appointed.

Please take a look at our self assessment tax return page, to discover how we can help you with your tax returns.

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