Nearly half of taxpayers would rather go to the dentist than submit their tax return

The deadline for sending your 2016 to 2017 tax return to HMRC and paying any tax owed, has come upon us.

Even if you don’t actually owe any tax, you do still need to have filled out your tax return. If you send it late, you will receive a £100 penalty and the longer you delay it, the more you will have to pay – you could expect to pay as much as £1,000 for a return that is three months late.

Data revealed that a week ago, around eight million people had filed their tax return, however, it was also found that just over three million taxpayers were still to complete their self-assessment.

Angela MacDonald, HMRC Director General of Customer Services, commented, “The 7-day countdown to 31 January has now begun. Put a stop to that niggling feeling and do your Self-Assessment now. Our helpful online services offer support and advice, so you can complete your tax return quicker than you think.”

A recent survey from Which? shows that four in 10 people would rather take a trip to the dentist than complete their tax forms, which may explain why there are so many people leaving filing and paying until the last minute.

Which? surveyed over 4,000 members of the public to investigate the nation’s tax return habits. More than half (53%) would rather do the ironing or clean the bathroom (53%) than complete their returns. Meanwhile 54% preferred to visit their in-laws. Just over one in four (41%) would rather spend time unblocking a drain or visit the dentist (41%).

Gareth Shaw, Which? Money Expert said, “It is clear that few people enjoy the annual process of completing their tax returns. And while completing household chores can seem more appealing, putting it off can leave consumers with hefty fines – going into the thousands.

“However, returning tax doesn’t need to be like pulling teeth. We’d recommend using online calculators, such as the Which? tool, which offers a jargon-free, simplified process that even submits your data directly to the HMRC.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.