UK Tax Return Statistics – The Good, The Bad and The Ugly

As the tax return deadline day 2019 draws closer (31st January), if you’re one of those who’re yet to file their self assessment – GoSimpleTax have put together some very interesting UK tax return statistics. Including the good, the bad and the ugly and leaving no stone unturned, here are some self assessment statistics from 2018 that are worthy of a mention. Take note from the bad examples and be sure that you’re submitting yours on time this year.  

But before we delve deeper into last years data, let’s take a look at the situation for 2019 as we know it currently.

UK tax return statistics

2019 – as it stands

 

UK tax return statistics

We’ve collected data from our GoSimpleTax software and compiled that with HMRC data to bring to you the tax return situation, as it stands in 2019. The deadline is approaching and the statistics that we’ve unveiled may surprise you with this in mind.

Almost HALF of taxpayers are still left to submit… HMRC released a statement on the 2nd of January this year entailing that they are still awaiting the return of a whopping 5.5 million self assessments. On January 23rd 2018, the governing body was still missing over 3 million filings, so let’s see how the stakes fair this year.

Approximately 52% of taxpayers have already filed their return… As of the end of last year (December 31st 2018), HMRC recorded that 52% of taxpayers had filed their self-assessments. However, almost half of the eligible population are still yet to submit a return.

88%, or 5 MILLION returns were completed online…  Of that 52% that have already submitted their tax return, 88% – or rather 5 million taxpayers filed their self assessment online before the end of 2018. We suspect that this is a result of the new government initiative, Making Tax Digital (MTD), which aims to see all tax-related activity carried out digitally by 2020.  

Financial Secretary to the Treasury, Mel Stride, said… “It is encouraging that around 52% of taxpayers have already completed their Self Assessment tax returns. With less than one month to go before the deadline, there are still many people that need to act now.”

2018 – in review

UK tax return statistics

We collated the GoSimpleTax data from the self-assessments that were filed last year over the 2018 deadline and compiled that with HMRC data to bring to you a review of 2018’s tax return submission activity.

There’s something about the 31st January… It would seem that late tax return filings, however, are not a new trend. GoSimpleTax’s submission data revealed that a huge spike of the total self assessments were submitted ON the deadline day and submissions in the final hour were not uncommon either….

Leaving it til’ the last minute seems all the rage… funnily enough on the 31st January last year, the last submission for the day was entered at 23:59:43 – close call!  It was also reported that in 2018, 2 MILLION people were yet to complete their self assessment just one day before the deadline.

Christmas is becoming a more attractive time to submit your tax return… Our data shows there has been a huge spike in the submissions on and around Christmas day. That includes Christmas Eve, Christmas Day and Boxing Day. This is supported by HMRC, who on the 27th December 2018 revealed that over 10,000 self assessment returns were filed on Christmas Day and Boxing Day.

All you need to know about this year’s self assessment deadline

UK tax return statistics

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline, which falls on the 31st January 2019 for all online tax returns.

The last tax year the return relates to started on 6 April 2017 and ended on 5 April 2018.

You’ll usually have to pay a penalty if your submission is late. In some cases, you can appeal if you have a just reason for a late submission – but you must send your return or advise HMRC that you don’t need to file a return before you appeal.

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