Despite calls for an extension to the Self Assessment deadline due to the extraordinary year, HMRC are reminding people required to submit a tax return to make sure they have filed online and paid any tax due by the end of January 2021.
As is tradition, some people have decided to make the most of their downtime during Christmas Day and hopped online to send in their tax return. According to previous statistics, it takes around 3.5 hours to get a tax return completed, from reconciliation of figures to inputting online into the HMRC website.
From Christmas Day through to Boxing Day 31,400 people filed a tax return, with 20,200 on Dec 24th, 2,700 on Dec 25th and 8,500 on Dec 26th.
The figures published by HMRC show that despite the events of the year, relatively similar amounts of people were filing the same time in the previous year.
The tax return due would cover income earned between April 2019 and April 2020, the 2019/2020 tax year. You can use our multiple income tax estimate tool to get an estimate of what your tax bill could be.
HMRC have provided people with the ability to spread any tax payments due by setting up a payment plan (up to £30,000). If the bill is higher than £30,000 HMRC can be contacted directly to create a payment plan.
The Time to Pay option allows a monthly direct debit to be created to pay the tax bill, with interest being applied from February 1st 2021.