Save content
Have you found this content useful? Use the button above to save it to your profile.
HMRC's duck campaign
HMRC

Three million tax returns left to submit

by

HMRC has revealed that over three million tax returns need to be completed before the 31 January deadline, as accountants make the final push towards the finish line.

27th Jan 2020
Save content
Have you found this content useful? Use the button above to save it to your profile.

With the self assessment deadline looming, figures released from HMRC last Friday shows that three million tax returns still need to be filed.

HMRC started 2020 with five million tax returns still outstanding. Although two million have since been filed, that still leaves a considerable amount of returns for accountants to shovel in the last remaining days of January.

In recent years, AccountingWEB has seen readers attempt to ease the annual burden through charging for late delivery of accounts and shifting the majority of its tax work to earlier in the year. But the 17.4% of returns still remaining demonstrates that the January rush and recalcitrant clients are still causing accountants long working days and sleepless nights at the start of the year.

SA submission figures obtained by Informi illustrate the extent of the last-minute taxpayers, with the needle only moving in December when one million tax returns were submitted, which accounts for 8.6% of the annual total. 

Register for free to continue reading

It’s 100% free and provides unlimited access to the latest accounting news, advice and insight every day. As well as access to this exclusive article, you can:


Content lock down, tick icon

View all AccountingWEB content


Content lock down, tick icon

Comment on articles


Content lock down, tick icon

Watch our digital shows and more

Access content now

Already have an account?

Replies (12)

Please login or register to join the discussion.

avatar
By claudialowe
27th Jan 2020 16:35

And only 7 of them belong to my clients - yay! One thinks that it is still far too early to bring me their paperwork, well they can go whistle Dixie, the others will all be filed in time, including the one that has been given a 5 week extension :-)

Thanks (0)
By James Green
27th Jan 2020 17:34

Feeling very smug this year - all done today :-)

Thanks (0)
By Tim Vane
27th Jan 2020 17:40

Why does this article assume that accountants will be submitting these 3 million returns? I think it is much more likely that the vast majority are un represented taxpayers who are leaving it until the last minute.

Thanks (5)
Replying to Tim Vane:
By ireallyshouldknowthisbut
27th Jan 2020 18:22

Well quite. We filed (or at least prepared) around 300 before Xmas and have done 15 or so in Jan.

I now have 9 out for signature or payment, and 7 not complete, but deliberately so as they did not come in until Jan so I want them to get a squeaky backside, albeit all are very quick returns, I could do all 7 in under a day.

Thanks (0)
gnone
By Usergnome
27th Jan 2020 19:54

“ With the self assessment deadline looming, figures released from HMRC last Friday shows that three million tax returns still need to be filed.

HMRC started 2020 with five million tax returns still outstanding. Although two million have since been filed, that still leaves a considerable amount of returns for accountants to shovel in the last remaining days of January.”

Say what you want about HMRC but that is impeccable maths.

Thanks (1)
avatar
By Cloudcounter
28th Jan 2020 08:51

Not exactly news, is it?

I haven't checked but this could be a straight cut and paste from the article posted this time last year, and the year before, and the year before . . . . . .

Nothing changes

Thanks (0)
By Husbandofstinky
28th Jan 2020 10:50

'Sleepless nights'

Err No.

Thanks (0)
avatar
By David Gordon FCCA
28th Jan 2020 12:08

It is only the most straight forward of returns which may be prepared April, May June. 31st March year end clients will not have their stuff ready for at least three or four months.

Further I have noticed at least one practice which "Stores" all its approved returns in a bundle. It then undertakes a major filing exercise in January.

Thanks (0)
Replying to David Gordon FCCA:
avatar
By Roland195
28th Jan 2020 17:12

I know a practice like this too - will store every single SA return to file at a chosen point mid January with the rationale that this limits the enquiry risk by filing them alongside millions of others while not raising a red flag by filing on the 31st.

They possibly misunderstand how the enquiry window works but aside from what it is they feel the need to hide, you can only imagine how stressful this is for the staff and the clients trying to make online payments.

Thanks (0)
7om
By Tom 7000
28th Jan 2020 16:38

246 left....

Thanks (0)
avatar
By Vaughan Blake1
28th Jan 2020 17:13

What bugs me is that the media is full of tax return preparation stories as though doing your tax return in the last week of January is the norm. Maybe it is for the journalists who write these articles.

Thanks (0)
avatar
By North East Accountant
28th Jan 2020 17:44

Just think what fun we'll all have when HMRC introduce MTD for everyone and then move from quarterly to monthly to real time filing with daily deadlines across your entire client base.

We'll look back oh so fondly at the once per annum January rush.

Thanks (0)