A record number of taxpayers filed a Self Assessment return by the 31 January deadline, it has been revealed.
According to HM Revenue & Customs (HMRC), which published the figures, over 11.1 million tax returns were filed in time, avoiding an automatic £100 penalty fine. The regulator says around 700,000 of those were submitted on deadline day.
This is compared to the 10.4 million Self Assessment returns filed by 31 January 2019.
Commenting on the figures, Angela MacDonald, HMRC’s Director General for Customer Services, said: “It’s great to see that the majority of customers have submitted and paid their tax returns before 31 January.
“While few people enjoy the process it’s good to get it out the way and know you have contributed towards our vital public services. I’d like to thank everyone who filed and paid on time.”
However, the figures suggest that there are still some 1.3 million tax returns outstanding. Taxpayers who file a late return will receive an automatic £100 fixed penalty fine, but the penalties rise significantly if a tax return is late by more than three months. The penalty tiers are as follows:

• an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
• after three months, additional daily penalties of £10 per day may be charged, up to a maximum of £900
• after six months, a further penalty of 5 per cent of the tax due or £300, whichever is greater
• after 12 months, another 5 per cent or £300 charge, whichever is greater
• there are also additional penalties for paying late of five per cent of the tax unpaid at 30 days, six months and 12 months

“Customers who have missed the deadline should contact HMRC. The department will treat those with genuine excuses leniently, as it focuses penalties on those who persistently fail to complete their tax returns and deliberate tax evaders. The excuse must be genuine and HMRC may ask for evidence,” added HMRC.
Do you need help and support completing your tax return? For advice, get in touch with our expert team today.