TaxPersonal TaxRevenue could collect £80m in fines as record number of taxpayers miss self-assessment deadline

Revenue could collect £80m in fines as record number of taxpayers miss self-assessment deadline

More than 800,000 self-assessment tax returns due by last week's January 31 deadline have yet to be submitted to the Inland Revenue, the highest total ever.

A Revenue spokesman said today that of the 9.088m forms issued, 7.888m or 87% of returns were received by 31 January.

However, a new move by the Revenue effectively extended the deadline to 7.30am on February 2.

By the end of February 1, 8.143m or 89.6% had been received.

A further 68,000 were dropped in overnight and so were deemed to be liable for the £100 late filing penalty.

In total, this means 8.2m were filed without penalties which meant 90.2% of returns were submitted in time.

The Revenue said it was hoping for a 90% success rate and so was ‘delighted’ at the figures.

For the first two years of self-assessment, around 650,000 missed the deadline.

This year 877,000 missed it, meaning that potentially the Revenue could collect over £80m in penalties.

Almost a million tax returns to miss deadline, according to Revenue figures

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