2,700 Self Assessment (SA) tax returns sent in on Christmas day

2,700 Self Assessment (SA) tax returns sent in on Christmas day

Dec 31, 2020 | HMRC, Tax | 0 comments

More than 2,700 customers filed their Self Assessment tax return on Christmas Day, HMRC has revealed.

The peak time for completing tax returns was 14:00 to 14:59, with more than 200 customers sending their online forms.

Because the Self Assessment deadline is on 31 January 2021, HMRC see thousands of customers using the Christmas period to complete and return their documents.  Customers are given the option to complete their tax returns online ahead of the deadline or at a time that suits them.

Once the tax returns are completed and submitted and the customers are informed of how much tax is owed by the HMRC, they can now setup a payment plan to spread the cost of their tax liabilities to the value of £30,000.

In total, 31,400 customers completed their 2019 to 2020 tax returns between 24 and 26 December:

  • Christmas Eve: 20,200 tax returns were filed. The peak time for filing was 11:00 to 11:59 when 2,892 returns were received
  • Christmas Day: 2,700 tax returns were filed. The peak time for filing was 14:00 to 14:59 when 214 returns were received
  • Boxing Day: 8,500 tax returns were filed. The peak time for filing was 15:00 to 15:59 when 858 returns were received
2,700 Self Assessment (SA) tax returns sent in on Christmas day

UK Budget set for 3rd March 2021

Dec 30, 2020 | Tax | 0 comments

Chancellor Rishi Sunak sets the UK Budget for 3rd March 2021

Rishi Sunak has described the Budget as ‘will set out the next phase of the plan to tackle the virus and protect jobs’.

Sunak become Chancellor in February 2020 after Sajid Javid’s shock resignation.  This will be Sunak’s second Budget after his first being 11th March 2020.

The March 11th 2020 Budget was heavily steered towards the government’s first response to the coronavirus pandemic, which focused on new jobs and business support with £30bn of commitments.

There was speculation there would be an autumn Budget but this did not happen although Sunak has provided both a ‘summer economic update’ and a ‘winter economy plan’, still focusing on Covid-19 support.

The spending review was held in late November, with Sunak emphasising the UK was facing an ‘economic emergency’, and revealing the economy is set to contract by 11.3%, the largest fall in over 300 years.

There has been no suggestion that of any planned tax increases or other means to reduce the government’s borrowing, which means that next years Budget will be the first time he can announce changes to the UK tax.