Business News

1 In 3 Tax Returns Still Outstanding

A third of online tax returns are still outstanding, with less than a week to go before the 31 January deadline for online submissions, according to the latest HMRC figures.

HMRC announced on 24 January 2018 that just over 3 million self-assessment tax returns have yet to be submitted.

Around 8 million people have already filed their return for 2016/17.

Self-assessment customers can submit their returns through their personal tax account.

If you’re submitting it online for the first time, you’ll need to register for self-assessment online, but keep in mind that it can take a few days for the registration to arrive in the post.

Anyone who hasn’t submitted their tax return by the deadline will get a £100 penalty – even if they do not owe any tax.

Angela MacDonald, HMRC director-general of customer services, said:

“The 7-day countdown to 31 January has now begun.

“Put a stop to that niggling feeling and do your self-assessment now.

“Our helpful online services offer support and advice, so you can complete your tax return quicker than you think.”

For any help or advice with financial planning talk to RPD

 

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