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1m set to file tax returns close to deadline day

16-01-2020

Data from tax return software provider GoSimpleTax suggests that around a million self-employed taxpayers are expected to file their annual tax returns in the final 72 hours before the January 31 deadline. The firm points to figures showing that one in 10 freelancers waited until deadline day to file their returns last year. The Telegraph, which notes guidance suggesting it is better to submit returns on time even if they contain errors than to hand them in late and incur penalties, details five changes for people submitting returns this month for the 2018/19 tax year. These include an increase in the personal allowance; an increase in the income tax threshold; and a reduction in the amount of dividend income that can be earned from investments held outside of an Isa.

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