Based on the information gathered from various sources, it has been reported that a substantial number of taxpayers missed the self-assessment tax return deadline. Specifically, it was confirmed by HMRC that 605,849 taxpayers failed to meet the January 31st deadline, while 11,581,962 taxpayers successfully submitted their tax returns for the 2022-23 tax year by the midnight cutoff on the same date. This figure marks a significant increase compared to the previous year, where only 300,000 individuals missed the annual filing deadline out of 11,733,465 completed and timely tax returns.
Failing to meet the tax return deadline carries consequences, including an automatic penalty of £100 for late filing. Additionally, HMRC imposes interest on late payments at a rate of 7.75%, emphasising the importance of settling outstanding tax obligations promptly. For individuals unable to pay in full, setting up a Time to Pay payment plan with HMRC is advised.
Notably, 778,068 taxpayers completed their returns on the deadline day, with 32,958 filers submitting between 23:00 and 23:59, and 61,549 filing between 16:00 and 16:59—marking the peak hour for filing.
Abul Nurujjaman, head of Taj Accountants and Cloud BPO, stressed the significance of taking the deadline seriously, stating, “It is imperative to treat the deadline with utmost seriousness. We consistently emphasise to our clients and stakeholders the significance of submitting their self-assessment on time, providing guidance on the proper procedures for timely submission and strategies to mitigate potential challenges. By approaching this matter with earnestness and collaborating closely with their accountants, individuals can effectively address late filing issues and safeguard themselves from incurring penalties.”
Furthermore, it’s worth noting that the phone helplines were unavailable, prompting individuals with inquiries to resort to HMRC’s webchat and online services for assistance.
Myrtle Lloyd, HMRC’s director general for customer services, expressed gratitude to the millions of self-assessment customers and agents who met the deadline and encouraged those who haven’t filed to explore available options for managing their tax obligations.
