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HomeNewsUK NewsHMRC urges 3.4 million customers to complete self assessment of tax returns

HMRC urges 3.4 million customers to complete self assessment of tax returns

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The HM Revenue and Customs (HMRC) has urged fewer than 3.4 million customers to complete self assessment of tax returns as the deadline is on 31 January, a statement said.

More than 12 million customers are expected to file a tax return for the 2021 to 2022 tax year and pay any tax owed by the deadline. Currently, almost 8.7 million customers have filed their returns, the statement added.

Last year, more than 10.2 million customers filed their tax returns for the 2020 to 2021 tax year by the deadline, said HMRC.

People who need help can visit GOV.UK to access a wide range of resources including guidance, webinars and YouTube videos.

Myrtle Lloyd, director general for customer services, said: “There’s no need for customers to call us, they can save time and search ‘self assessment’ on GOV.UK for a wealth of information and resources to help them complete their tax return.”

Customers can pay their tax bill in around 60 seconds via the free and secure HMRC app. It also provide information for those yet to complete their tax return including their National Insurance number, Unique Taxpayer Reference and any PAYE information.

Customers who are unable to pay what they owe in full can also set up a payment plan, allowing them to spread the cost into manageable monthly instalments.

According to the HMRC, customers can use self-serve Time to Pay on GOV.UK if they have filed their tax return for the 2021 to 2022 tax year, owe less than £30,000 and can pay in full within 12 months.

For customers who pay their current estimated tax bill via Payment on Account, the first instalment for the 2022 to 2023 tax year is due on 31 January.

Those who file returns after 31 January may face 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, up to a maximum of £900 after 6 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 percent of the tax unpaid at 30 days, 6 months and 12 months.

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