Over one million taxpayers face fines after missing self-assessment deadline

An estimated 1.1 million people in the UK were absent from the reduction of January 31 to submit the annual declarations of self -evaluation tax, according to HM and Customs (HMRC).

Each Fair failer now faces a penalty of at least 100 pounds, unless they can prove that they have a right reason to delay them.

HMRC revealed that more than 11.5 million taxpayers were able to complete the process on time, with a set of activity at the last minute on the day of the deadline. More than 31000 feet in the last hour before midnight. Self -evaluation usually applies to those who work for their own account or have multiple sources of income, ensuring the processing of both tax declarations and any related payments.

While the official deadline for paying any due tax was also on January 31, HMRC does not impose late payment penalties until March 1. However, Barclays customers have left the last minute due to the bank’s information technology problems, which resulted in delaying some tax payments on Friday. Barclays has since confirmed to customers that no person will be left outside his pocket as a result of his technical issues.

Sanctions in the loss of the deadline

Those who have not applied at the appointed time must submit their return immediately to avoid the escalation of fines. The punishment system includes:
• A preliminary penalty of 100 pounds, even if there is no due tax
• Additional daily penalties of 10 pounds after three months, up to 900 pounds
• Another penalty of 5 % of the tax due (or 300 pounds, whichever is greater) after six months
• Another 5 % of the tax due (or 300 pounds) after 12 months

Late taxpayers also face other fees if they fail to settle any amounts due, with 5 % of unpaid tax in 30 days, six months and 12 months, in addition to interest on late payments.

Martel Lloyd, General Manager of HMRC Customer Services, thanked those who managed to meet the deadline and urged late notes to quickly provide returns to reduce the impact of the sanctions.

Any person planning to challenge the fine must complete their return first, before submitting a written appeal or via a specific HMRC model. However, the Tax Authority has faced criticism from deputies for its customer service lines – stating that HMRC CEO is strongly denied, describing the “poorly poor service” service allegations as “completely basis.”

Online platforms such as EBay and Vinted are now obligated to disclose sales data for individuals who sold 30 or more elements, or got at least 1700 pounds. Change does not provide any new taxes on these transactions; Instead, the information is simply involved to help individuals ’revenues via HMRC and ensure correct tax compliance.

With the self -evaluation window closing now, the HMRC message is clear: if you miss the deadline as soon as possible. You can not only reduce installation penalties, but you can also start any official appeal if you think you have reasons to compete for the fine.