Have yourself a merry little tax return: thousands file self-assessments on Christmas Day

Published by Edmund Greaves on 27 December 2018.
Last updated on 27 December 2018

File your tax return between Christmas and New Year for cash-flow advantage

Thousands of taxpayers filed self-assessment returns on Christmas Day, according to HM Revenue & Customs (HMRC).

HMRC says that 2,616 taxpayers filed self-assessment returns on 25 December.

Of those, 204 filed their returns between midnight and 8am. A total of 1,372 submitted theirs between 8am and 4pm, while 1,040 filed between 4pm and midnight.

HMRC says that the peak hour for filing on Christmas Day was between 1pm and 2pm, with 723 returns submitted.

On Boxing Day, the numbers rose, with 8,465 returns submitted.

Angela MacDonald, HMRC’s director general for customer services, says: “This year, more than 2,600 taxpayers chose to file their returns on Christmas Day.

“Whether you fit it in while cooking the Christmas turkey, after the kids have gone to bed, or after the Queen’s Speech, our online service is available for you to file your tax return at a time that suits you.”

HMRC says that it expects another 11 million taxpayers to submit their returns by the 31 January deadline.

Filing a self-assessment return

Most taxpayers in the UK do not have to submit any documents as their taxes are deducted by their employer using the PAYE system.

However, workers who have earned additional untaxed income not already deducted via PAYE do need to file a tax return if they earned more than £1,000. This can include other work, rental income or even income from investments, savings, trusts and settlements.

Self-employed workers who earned more than £1,000 in the past year also need to file a return, as do small business owners. Any taxable income and capital gains must be declared each year.

Find out more on the government website. https://www.gov.uk/self-assessment-tax-returns/who-must-send-a-tax-return

Free Consultation: 5* Rated Financial Adviser

Advertisement
  • UK's no. 1 financial adviser rating site, 80,000+ client reviews
  • Enter your postcode to see the top 5 rated advisers near you
  • Search 5,000+ fully vetted financial advisers
  • Claim a free 1 hour consultation to clarify your options

 

Leave a comment