Tax & admin Fred Heritage · 20 December 2016
Christmas Day will set record for submitting tax returns?
Record numbers of UK business owners are now submitting tax returns over the festive season, choosing Christmas Day as the perfect time to file self-assessment forms online, according to the latest data. On 25 December last year, a total of 2, 044 business owners in Britain filed self-assessment tax returns a new record and the figure is likely to rise again in 2016, research from accounting firm FreeAgent has found. Indeed, 2015 saw a 13 per cent increase in the number of business owners filing self-assessments and submitting tax returns on Christmas Day compared with 2014. Meanwhile, as many as 5, 402 company owners chose Boxing Day instead to complete their year-end forms online. A surprising number of Britons saw in the new year last year by submitting their tax return. Some 600 people submitted self-assessment forms between midnight and 10am on 1 January 2016. Since 2013, there has been a year-on-year rise in the number of business owners submitting tax returns on Christmas Day. That year, just 1, 566 submissions were completed throughout the day. Commenting on the growing trend, FreeAgent co-founder Ed Molyneux said: Instead of sitting down to a traditional turkey dinner or watching the latest Christmas TV specials, more and more people in Britain are celebrating the festive season by choosing to file their dreaded tax returns. clearly, when Christmas starts to feel a bit much, completing a tax return can actually be a great opportunity to excuse yourself from the festivities and have some quiet time away from the hubbub.
ABOUT THE EXPERTFred Heritage
Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.