HMRC has stated that more than three million taxpayers are yet to file their self assessment tax return despite the deadline looming.
Taxpayers must file their tax return by midnight on 31 January 2020. The only exception to this is if you received a notice from HMRC to make an online tax return after 31 October 2019. In this case, you have three months from the date of issue to submit your return.
Those who are late in submitting their return face a penalty of £100, even if there is no tax to pay, or if the tax has been paid on time. Additional penalties are due for continued late payments and late filing.
Last year, 735,258 taxpayers filed their returns on 31 January and 731,186 taxpayers missed the deadline completely.
Commenting on the numbers, Jesse Norman, Financial Secretary to the Treasury, said: 'The deadline is fast approaching for more than three million taxpayers who have not yet managed to file their tax returns. With only one week until 31 January, HMRC strongly encourages people to file their self assessment.
'Anyone who believes they might not be able to file on time should make sure to call or email HMRC.'
We can help with all aspects of self assessment, including filing returns on your behalf. Please contact us.