Tax Rebates & Refunds

Research shows most Brits are unaware of tax return deadline

January 23, 2013
Posted in Income Tax — Written by Geoffrey

According to a new survey, around two thirds of self-employed British workers don’t know when the deadline is for filing self-assessment tax returns.

The research, carried out by OnePoll and Crunch Accounting, involved asking business owners and sole traders (self-employed people) a number of questions relating to filing self-assessment tax returns. The study revealed that:

• 68 per cent admitted not knowing when the tax return deadline was
• 61 per cent were unlikely to actually make the January 31st deadline
• 52 per cent admitted to receiving fines in the past for filing their tax returns late
• The West Midlands was the worst area for late tax return filing, with 77 per cent expected not to have their returns in on time

This is worrying news, especially since HM Revenue & Customs (HMRC) has spent a considerable amount of time and money on public awareness and government advertising campaigns to let people know of the tax return deadline date.

It also may mean that in addition to self-employed people receiving their tax rebates late, HMRC may also collect a large sum in penalty fines this year. There is an automatic fine of £100 per person for missing the deadline, but additional penalties can be charged for each day and month that passes without the return being sent in.

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