Breaking Records: HMRC's Self Assessment Filing Frenzy on 31st January

As the tax year came to a close on January 31st, a record-breaking 11.5 million individuals successfully filed their Self Assessments for the 2022/2023 period. The annual rush to meet the deadline showed the procrastination habits of taxpayers across the UK once again. 778,000 of these taxpayers waited until the very last day to submit their return, proving that there’s a tendency for many to put off this important task until the eleventh hour.

Year after year, the majority of taxpayers seem to embrace the adrenaline rush of meeting the January 31st deadline. Whether it's a case of forgetfulness, lack of time management, or the hope that more time will somehow make the process less daunting, the procrastination phenomenon is alive and well. 

Looking ahead, significant changes loom on the horizon with the introduction of Making Tax Digital (MTD) in 2026. MTD is a government initiative designed to revolutionise the tax system, making it more efficient and easier for individuals and businesses to manage their tax affairs. With MTD, the traditional annual rush to file Self Assessments on January 31st will be a thing of the past as people will have to file quarterly.

Acknowledging the impending shift towards a more digitised tax system, our app has been meticulously designed with the future in mind. We understand that the transition to MTD will require individuals to adapt to a new way of managing their tax obligations on the go. Our user-friendly interface and intuitive features aim to streamline the process, ensuring a smoother and more efficient experience for users.

More stats on the amount of people filing in the last days and weeks of the deadline can be found on HMRC’s website here: 

https://www.gov.uk/government/news/a-record-115-million-tax-returns-filed-by-the-deadline