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The number of UK taxpayers who spent the festive period filing their self assessment online tax return has increased this year. HM Revenue & Customs has recently released figures which show that around 20,000 self assessment tax returns were filed online by individuals over the Christmas period.

Christmas day saw 1,100 taxpayers dealing with their tax return, while the study revealed that 100 people submitted their tax return at the turn of the New Year. Another 11,648 taxpayers spent New Year’s Eve completing and submitting their self assessment tax return online, while 8,935 were among the first taxpayers to file online on New Year’s Day. As the deadline for the 2010-11 tax return fast approaches, a number of businesses may be seeking assistance to complete their tax returns before the 31st January 2012, in order to avoid a large penalty charge.

For businesses who wanted the tax due to be collected through their 2012-13 tax code, the deadline was 30th December which means that the final deadline for the 2010-11 tax return is 31st January. New penalties mean that failure to comply with the relevant deadline will result in an instant £100 penalty charge. This applies even if you have nil tax due, or have already paid any tax due. If the tax return is still outstanding after three months, an additional £10 per day will be charged, to a maximum of £900 and in addition to the fixed £100 penalty. Further penalties will be added until the tax return is submitted.

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