Millions of taxpayers filed their Self Assessment tax return for the 2023 to 2024 tax year by the deadline.More than 11.5 million taxpayers beat the Self Assessment deadline to file their tax return for the 2023 to 2024 tax year by 31 January and avoid a £100 late filing penalty, HM Revenue and Customs (HMRC) can reveal.The number of people who filed their return on deadline day was 732,498, with the most common time being 16:00 to 16:59 when 58,517 people filed. Thousands left submitting their return until the very last minute when 31,442 filed between 23:00 and 23:59.Myrtle Lloyd, HMRC’s...

04 February, 2025

As Small Business Saturday approaches, HM Revenue and Customs (HMRC) has launched a new interactive online tool and clearer guidance for people working for themselves and individuals considering self-employment.Aimed at supporting new and existing ‘sole traders’ to better understand their responsibilities, the new interactive tool explains the records they may need to keep, taxes that may apply to their business, and includes other useful information, for example how to pay a tax bill.Whether preparing a first business plan, finding their feet as a fledgling firm, or already an established enterprise - small businesses across the UK can access the support and information...

05 December, 2024

HMRC interest rates for late payments will be revised following the Bank of England interest rate cut to 4.75%.The Bank of England Monetary Policy Committee announced on 7 November 2024 to reduce the Bank of England base rate to 4.75% from 5.0%.HMRC interest rates are linked to the Bank of England base rate.As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will reduce.These changes will come into effect on:18 November 2024 for quarterly instalment payments 26 November 2024 for non-quarterly instalments paymentsInformation on the interest rates for payments will be updated shortly. How HMRC interest rates are...

09 November, 2024

Self Assessment customers have less than one month to file their tax returnsWith less than a month to go to the Self Assessment deadline, HM Revenue and Customs (HMRC) is urging nearly 5.7 million customers to file their tax return for the 2022 to 2023 tax year.HMRC data shows almost 6.5 million customers have already beaten the Self Assessment clock by filing their tax return including 49,317 customers who used the New Year holiday to get a head start on their tax obligations:25,593 customers filed their tax return on New Years Eve, with the most popular time being between 12:00...

02 January, 2024

In an era where digital transformation is revolutionising various sectors, HMRC stands at the forefront, revolutionising the process of Self Assessment tax return filing. With an ever-expanding array of online resources and tools, HMRC aims to empower taxpayers with a hassle-free and streamlined approach to managing their tax obligations.The traditional process of contacting helplines for tax-related queries is gradually being replaced by a comprehensive online infrastructure. HMRC, recognising the evolving needs and preferences of taxpayers, has strategically invested in an array of digital services to accommodate this shift.Myrtle Lloyd, HMRC’s Director General for Customer Services, emphasizes the pivotal role of...

28 November, 2023

Self Assessment customers have just 100 days left to submit their tax return ahead of the deadline on 31 January 2024, HM Revenue and Customs (HMRC) has said.And with the clock ticking down, customers can find various types of help from webinars to step by step guides at the click of a mouse.Anyone who needs support to complete their return for the 2022 to 2023 tax year can access the online help available on GOV.UK. It explains how to access HMRC’s services and ask for help, without having to call HMRC.Completing a tax return sooner means that customers can find out what they owe...

23 October, 2023

Bids for the 2024 to 2027 Voluntary and Community Sector Grant Funding, worth £5.5 million, open on 24 July. HM Revenue and Customs (HMRC) is awarding £5.5 million to voluntary and community organisations to support customers who may need extra help with their tax affairs.HMRC is inviting eligible organisations to bid for the funding, worth £1.8 million a year from 2024 until 2027, through HMRC’s Voluntary and Community Sector Grant Funding programme. Bids can be submitted between 24 July and 21 August 2023 with successful organisations being announced in October ready for the new funding to start from 1 April 2024.This is the 12th...

17 July, 2023

HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 5%.The Bank of England Monetary Policy Committee announced on 22 June 2023 to increase the Bank of England base rate to 5% from 4.5%.HMRC interest rates are linked to the Bank of England base rate.As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase.These changes will come into effect on:3 July 2023 for quarterly instalment payments 11 July 2023 for non-quarterly instalments paymentsInformation on the interest rates for payments will be updated shortly. How HMRC interest rates are...

22 June, 2023

National Insurance Contributions (NICs) are the payments made by workers and employers to support certain state welfare programs in the UK, such as the National Health Service (NHS), state pensions, and jobseeker’s allowance. As a worker, it is essential to stay updated with your contributions and monitor your overall contribution history over time.If you are a UK worker, you can check your NICs by accessing the online service provided by the UK government. In this article, we will discuss how to check your National Insurance contributions, the importance of keeping track of contributions, and how this information helps towards...

13 June, 2023

The government is giving people more time to pay National Insurance contributions towards their State Pension.Taxpayers now have until 5 April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension - an extension of nearly 2 years - the government announced today (12 June).Extending the voluntary National Insurance contributions deadline until 2025 means that people have more time to properly consider whether paying voluntary contributions is right for them and ensures no-one need miss out on the possibility of boosting their State Pension entitlements.The original deadline was extended to 31 July...

12 June, 2023

A trial to redirect Self Assessment queries from the helpline to HMRC's digital services will run between 12 June and 4 September 2023.HM Revenue and Customs (HMRC) will pilot a new seasonal model for the Self Assessment (SA) helpline, to prioritise helping those with urgent queries.For 3 months from 12 June 2023, HMRC will trial directing SA queries from the helpline to the department’s digital services, including its online guidance, digital assistant and webchat.This will free up 350 advisers (full-time equivalent) to take urgent calls on other lines and answer customer correspondence. If focused on urgent calls, these advisers will answer around 6,600 each...

08 June, 2023