Self Assessment online filing statistics
HMRC has issued a press release detailing the number of online filings made for the 2012-13 Self Assessment returns. The use of the online service continues to grow year on year. This year a total of over 8.48 million online filings were made by the 31 January 2014 deadline. A further 1.55 million tax returns were submitted in a paper format. This means that 93.4% of returns were submitted on time (be it the paper or online deadline).
The highest numbers of returns were made on the 31 January 2014 when 569,847 online filings were recorded. Of these, over 21,000 taxpayers left it until the final hour to submit their returns. HMRC’s news release on the subject included some interesting statistics on online filings with 1,566 people filing online on Christmas Day and 4,493 on Boxing Day.
Any returns that were filed after the 31 January 2014 deadline will be subject to a penalty. A £100 penalty for late submission of the Self Assessment returns applies even if taxpayers have no tax to pay or have paid any tax due on time.
In addition, the following penalties apply to Self Assessment returns that are filed late:
- From 3 months late: taxpayers will be charged an automatic daily penalty of £10 per day up to a £900 maximum.
- From 6 months late: taxpayers will be charged additional penalties which are the greater of 5% of tax due or £300.
- Over 12 months late: there are additional penalties based on the greater of 5% of tax due or £300. In serious cases this penalty may be increased up to 100% of tax due.