Warning from Martin Lewis as two million face mounting tax bill
The deadline has been extended but charges will mount from this week
Updated
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HMRC confirms 1.8m taxpayers miss Self Assessment deadline but may not face late fine
No £100 penalty will be incurred if tax returns are submitted online by February 28, 2021.
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HM Revenue and Customs (HMRC) has confirmed that around 1.8 million taxpayers missed last month’s Self Assessment deadline.
More than double number miss the deadline in 2021 than did in 2019
More people than ever before have missed the annual tax return deadline with some 1.8m people failing to file their forms on time.
Close to 15pc of the 12.1 million people due to file returns missed the cut-off this year, HM Revenue & Customs has said. The 1.8 million figure was nearly double the 958,000 people who filed late in 2020 and more than double the 730,000 who missed the deadline in 2019.
They now face having to stump up for additional interest charges and late payment fines which can snowball into the thousands if left unpaid.
Self assessment: late tax returns almost double at 1.8 million 3 February 2021: A record-high number of taxpayers missed the self assessment tax return deadline and ICAEW has urged late filers to act well ahead of the new 28 February cut-off.
While more than 10.7 million people submitted their 2019/20 returns by the 31 January deadline, the 1.8 million who failed to file is almost double the 958,296 from last year.
Remaining taxpayers whose tax return is now late will not be charged a late filing penalty, provided they submit their return online a month later by 28 February.
Reflecting on the figures, ICAEW’s Tax Faculty says the number of missed returns this year confirms that the automatic waiver of late-filing penalties was needed. “The coronavirus pandemic has had a huge impact on the resources of taxpayers, agents and HMRC alike,” says Caroline Miskin, Technical Manager at the faculty. “Waiving penalties for SA returns until 28 Febru