TAX NEWS - June 2010

UK Tax: Record number of taxpayers file tax returns online

The number of people submitting their tax returns on the internet rose to record levels this year, officials have revealed.

According to HM Revenue and Customers (HMRC), 5.8 million people handed in their self assessment form by the January 31st deadline in 2009.

However, this went up to more than 6.4 million this time around - an increase of almost 12 per cent.

Stephen Timms, financial secretary to the Treasury, has welcomed this development and outlined some of the advantages of filing tax returns online.

"It's easier, quicker and HMRC processes your return faster, so any money you're owed is repaid more quickly," he commented.

He urged those who have not yet made the switch from paper to online to do so, as millions are already benefiting from this system.

HMRC figures showed that most online tax returns were submitted on Friday January 29th - just two days before the deadline.

The organisation spent the run-up to the cut-off point reminding consumers that they could face a £100 penalty if they submit their self assessment forms late.