More than 3,000 people filed self-assessment tax returns on Christmas Day this year, perhaps taking advantage of the lull after the King's Speech and before a tense family game of Monopoly.
While families up and down the country gathered to celebrate the festive period, more than 22,000 people spent the holidays between Christmas Eve and Boxing Day telling the taxman how much they earned this year.
A total of 3,275 did so on Christmas Day, 15pc higher than last Christmas. However, the overall number of returns filed over the three days was down 30pc compared to last year, when the omicron Covid variant ruined many families' plans.
Tax returns must be filed online by midnight on January 31 2023, and relate to the tax year that ended on April 5 2022. But hundreds of thousands of people fail to submit their forms on time each year. The forms require a great deal of care as mistakes can also lead to a penalty, with the taxman charging 100,000 people last year for inaccurate returns.
Penalties for late submissions can escalate quickly.
Those who miss the deadline face an immediate £100 fine and a further £10 daily penalty for up to three months days after the deadline, up to a maximum of £900. If after six months a return has still not been filed, taxpayers could also be liable for the greater of 5pc of the tax due or £300. After 12 months, you may be penalised another 5pc or £300, whichever is higher.
Once you have filled out your tax return, you may discover that you owe tax. You can find out the different ways to pay this by visiting the HM Revenue & Customs website or app. Those who are unable to pay their tax bill may be able to arrange help through an affordable payment plan, known as “Time to Pay”.
Stefanie Tremain, of the tax specialist Blick Rothenberg, added that if your tax bill is below £3,000, and your income is taxed under PAYE, then you can ask HMRC to collect the tax directly from your income for 2023-24 if you file your return by 30 December.