I am pleased to say that we filed all of the personal tax returns before the deadline of midnight on the 31 January 2014.
It seems that HMRC is reporting a record breaking year for tax return filing. They say it received 10.03million returns by the filing deadline beating last year’s total of 9.61million returns
Surprise, surprise the busiest day for filing online returns was 31 January, when HMRC received 569,847 forms, with 21,027 of these forms being filed between 11pm and midnight!
Although these are fantastic results HMRC says it was expecting around 10.74million returns, with around 6.6% of the required returns failing to meet the deadline triggering initial fines totalling around £70million for late filers.
A late filed tax return results in a £100 late-filing penalty. There are further late-filing penalties after three, six and 12 months.