A historic achievement unfolded as 11.5 million taxpayers successfully submitted their Self Assessment tax returns for the 2022 to 2023 tax year, setting a new record, according to the latest revelation from HM Revenue and Customs (HMRC).
Successful Tax Returns Filing Peak During Critical Hours
More than 12.1 million taxpayers were anticipated to file their tax returns and settle any outstanding tax obligations. Among those who met the deadline, 778,068 taxpayers managed to complete their submissions on 31 January.
Notably, 61,549 of them filed during the peak hour from 16:00 to 16:59, and 32,958 customers filed between 23:00 and 23:59, emphasising the rush close to the deadline.
Despite the looming deadline, taxpayers demonstrated resilience and adherence to their obligations, contributing to this notable feat. The statistics reflect both the magnitude of the task at hand and the collective commitment to meeting tax-related deadlines.
Late Tax Returns Filers Urged to Take Action
HMRC is actively encouraging individuals who missed the deadline to take immediate action by submitting their self assessment tax returns. Late filing and late payment penalties are applicable for failing to meet the specified deadline.
Myrtle Lloyd, HMRC’s Director General for Customer Services, expressed gratitude to the millions who met the deadline and encouraged those yet to file to explore payment plan options if unable to pay in full.
It's a crucial reminder that, despite the celebratory record, there are still individuals who need to fulfil their tax obligations. The proactive outreach from HMRC underscores the importance of addressing outstanding submissions and the potential benefits of engaging with available payment plans.
Conclusion
The Self Assessment tax returns payment deadline was also on 31 January, and individuals with outstanding tax payments are advised to settle them at the earliest convenience.
Various payment methods are available, including online platforms, the HMRC app, bank transfers, or setting up a Time to Pay payment plan. It's crucial for taxpayers to be cautious of scams and avoid sharing HMRC login details with anyone, including tax agents.
