Just 19 days left to file your tax return: here’s what to do

There are just 19 dreary January days left to complete your online self-assessment tax return and – here’s the important bit – pay what you owe. Miss the midnight deadline on Tuesday 31st January and you could face a stiff financial penalty.

More than 10 million of us were organised and settled our annual accounts on time last year, but nearly 900,000 let it go down to the wire. HM Revenue & Customs reported that 823,000 taxpayers waited until the 30th and 31st to file their returns. The Revenue’s single busiest day for returns was the 29th January, when 513,271 people submitted their records.

Men were the most likely to pay on time, as were those aged 65 or above, residents of Northern Ireland and people working in the agriculture, fishing and forestry sector.

Those who pay late risk costly punishment. If you fail to submit your return and settle up by the 31st of January, HMRC imposes a £100 fixed penalty – even if you don’t owe so much as a penny in tax.