Categorized | news

750,000 Miss Tax Return Deadline – DOH!

Despite me talking about the 31st January tax return deadline over the last few weeks, it seems that many self employed people have not been listening.

750,000 to be exact, who according to HMRC did not get their online tax return submitted by midnight last night. This includes contractors as well remember, many of whom are no doubt regular readers of this website.

The only word that comes to mind is “DOH!” Do these people not realise that a £100 fine will now be on the way to their mailbox. They must pay it as well, because if they don’t then even more fines could be added on top. It really is a good idea to just write out a cheque and learn from your mistake.

With that being said, there was over 10 million self employed people that did get their online tax return in on time. So it appears that quite a few of you have got things sorted and are not messing about…probably with the help of a contractor accountant, no doubt.

It was certainly a rush to the finish line for approximately 30,000 people last night between 11pm and 11:59pm, all of whom just managed to get their return submitted before the clock struck 12.

A minute or two later and they would have been fined, so you can imagine that quite a few people were breaking a sweat.

Things are getting better though. Yes 750,000 of our nations self employed did not get their tax return through on time, but last year that number was at 840,000. People are learning.

Perhaps it has a lot to do with the advert from HMRC that did the rounds recently? The advert featured ducks quacking as a way to remind everybody of the tax return deadline. Money well spent then.

If you are one of the contractors who missed the deadline yesterday then all may not be lost and you might not have to write a cheque. The reason? Because a good excuse will save you from being fined, although many have tried and many have failed going down this particular road.

Remember last week when I wrote a blog post about the most ludicrous excuses for filing a late tax return? In that post I mentioned how one man claimed it was because of “aliens,” while another mentioned it was because his business “didn’t really do anything.”

The one excuse you definitely don’t want to be using is “I don’t have a contractor accountant.” The HMRC are not going to fall for that one because they know how straight forward it is to find a professional.

Right here on this website is one such place, where in no time at all you can hire a contractor accountant to make sure your next tax return is submitted in time.

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