HM Revenue and Customs (HMRC) has reported that nearly 300,000 Self-assessment customers have filed their tax returns within the first week of the new tax year, demonstrating a proactive approach to tax compliance.
This significant number of early filers is encouraging, especially considering that the deadline for filing tax returns for the 2023 to 2024 tax year is not until 31 January 2025.
The surge in early submissions underscores HMRC’s call for taxpayers to avoid last-minute stress and file their returns promptly. By doing so, individuals have the opportunity to meticulously review their information for accuracy and potentially spread the cost of their tax bill through budget payment plans.
Myrtle Lloyd, HMRC’s Director General for Customer Services, highlighted the benefits of early filing, stating, “Filing your Self Assessment early means people can spend more time growing their business and doing the things they love, rather than worrying about their tax return.
The breakdown of filing data reveals that almost 70,000 individuals submitted their returns on the opening day of the tax year, with a steady flow of submissions in the subsequent days.
HMRC has provided a range of digital services to facilitate tax management for customers, ensuring quick and easy access to essential information and support. Helpline and webchat advisers are also available to assist those with complex tax affairs or who require additional support.
As part of ongoing updates, HMRC has announced that the High Income Child Benefit Charge threshold has increased to £60,000 from 6 April 2024, applicable to tax returns for the 2024 to 2025 tax year.
Taxpayers are reminded to remain vigilant against scams and phishing attempts, ensuring the security of their personal and financial information.
