Almost 2 million still need to file their tax returns before tomorrow’s deadline.
An automatic penalty fine of £100 will be issued to any of the 1.8 million people still needing to submit their self assessment tax return who do not file the return before February 1st. The fine will be applicable even if no tax is due.
HMRC reported that a total of 321,000 people filed their tax returns on Tuesday, at a record rate of 13,375 an hour. The tax office has had to overhaul their online data facilities in recent years in order to support the increase in online filing.
Over the past five years the number of people filing their tax returns online rather than on paper has almost doubled. January 2012 saw the greatest number of people choosing to submit their returns electronically with 81% of the 10.5 million people required to file a self assessment tax return doing so online.
It has also been revealed by HMRC that 1,548 people chose Christmas Day to file tax returns online, and 4,685 people chose Boxing Day.
If you are one of the 10% of people required to file a tax return who have not yet done so, you have until 12 midnight on Thursday to submit your return before facing penalties.
By submitting your tax return you might even be due a tax rebate so don’t delay!