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A record breaking 11.1 million taxpayers made their contribution to the UK’s public services by hitting the 31st January deadline.

The number of people filing online soared to more than 10.4 million for the first time ever.

Interestingly, more than 700,000 submitted their tax returns on deadline day – the peak hour for filing was between 4pm to 4:59pm when 56,969 filed.

Thousands of customers filed their tax returns at the last minute with 26,562 completing their returns from 11pm to 11:59pm on Friday 31st January.

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, but anyone yet to file or pay should contact HMRC straight away because we are here to help.”

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

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The data also found that 1,096,186 taxpayers missed the deadline (9.48%) – HMRC has said that customers who have missed the deadline should contact them as soon as possible. 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.

The penalties for late tax returns are:

  • 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 3 months, additional daily penalties of £10 per day may be charged, up to a maximum of £900;
  • After 6 months, a further penalty of 5% of the tax due or £300, whichever is greater; and
  • After 12 months, another 5% or £300 charge, whichever is greater.
  • There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months.

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

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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