Self Assessment guidance issued as deadline nears & a 'lumpy tax burden' hits freelancers

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Last minute filings

Untied, the personal tax app, recently examined data from 2018/19 tax returns, which was the most recent year which did not have deadlines shifted due to coronavirus. Untied’s research found only a third of tax returns are filed by mid-October, even though individuals have already had eight and a half months to complete their self-assessment documentation.

The statistics, which were released to untied by HMRC under the Freedom of Information Act, showed that in a typical year, only a third (33 percent) of returns are filed by October 20. Almost half of all returns (43 percent) are filed in the month of January alone, in the last weeks before the deadline of midnight on January 31.

The same data also highlighted over 135,000 returns are filed during Christmas week, including just over 3,000 on Christmas Day, plus a further 17,000 on New Year’s Day (and over 700,000 on January 31).

Kevin Sefton, CEO of untied, the personal tax app, commented on the data.

READ MORE: ‘This is not excuse for the Chancellor to raid pensions’ – tax warning

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