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HMRC Says 92 Percent Of Self Employed Filed On Time

by Robert Lee, Tax-News.com, London

02 February 2016


HM Revenue and Customs (HMRC) has said that it received more than 92 percent of the total expected UK Self Assessment tax returns ahead of the January 31 deadline.

The UK tax authority revealed that it received 10.39m Self Assessment returns for the 2014-15 year. 11.2m returns were due and around 870,000 are outstanding.

43 percent of the total returns received were submitted in January 2016. More than 89 percent of taxpayers opted to use the online Self Assessment service to calculate and pay the tax they owe.

Ruth Owen, Director General for Personal Tax, said: "We all know it's easy to put off completing your Self Assessment tax return, which is why it's fantastic to see more customers than ever before completing theirs on time this year. Each year we're dedicated to making the Self Assessment process easier and more intuitive."

"Our biggest innovation this year was the launch of the Personal Tax Account, with more than 825,000 customers accessing it as they completed their tax returns. Our new online tools proved just as popular, with more than 328,967 customers taking part in webchats in the last two weeks of January, ensuring they were able to submit before the January 31 deadline."

HMRC charges an initial GBP100 (USD143.62) fixed penalty for late returns, which applies even if there is no tax to pay or if the tax due is paid on time. Further penalties are applicable after three, six, and 12 months.

HMRC announced that it has also successfully checked 3.4m returns and intercepted more than 17,000 fraudulent or incorrect repayment claims, worth more than GBP96m. The Department uses a mixture of risk rules, scorecards, and watch lists to look for criminal attacks and suspicious claims.

Jennie Granger, Director General for Enforcement and Compliance, said: "Our success in using cutting-edge technology to sift and sort through millions of pieces of data is stopping fraudulent repayments in their tracks. Our highly skilled tax specialists are experts at reacting quickly to identify suspicious activity, protecting tax revenues that fund essential public services."

TAGS: compliance | tax | tax compliance | Personal Tax | United Kingdom | tax authority | HM Revenue and Customs (HMRC) | revenue statistics | penalties | HM Revenue and Customs (HMRC) | individual income tax | services | Compliance | Tax

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