HMRC has revealed an unexpected trend, with thousands of taxpayers choosing to file their Self Assessment Returns during the Christmas break. We always like to look at how many do, and this year’s summary makes interesting reading!

A Christmas Surprise: Filing Statistics

HMRC’s recent data shows that 40,072 people submitted their Self Assessment Tax Return over the Christmas period. This number includes:

• 23,731 returns filed on Christmas Eve
• 4,409 returns submitted on Christmas Day
• 11,932 returns completed on Boxing Day

The peak filing hour on Christmas Day was between 15:00 and 15:59, with 368 submissions, while on Boxing Day the most popular hour was between 16:00 and 16:59 when 1,108 filed. HMRC feels these figures demonstrate a growing trend of taxpayers choosing to get ahead with their tax obligations, even during traditionally festive times.

We’d differ slightly in our interpretation, in that filing in December for a January deadline when you’ve had since April to do so, should hardly be classed as ‘getting ahead’, but we do agree December is better than January!

Why over Christmas?

Several factors may have encouraged this festive filing:

1. Peace of mind: Filing early in the break allowed taxpayers to enjoy the rest of the holiday season without the looming tax deadline.
2. Financial planning: Our favourite justification for getting your Return in sooner rather than later is knowing your tax liability early gives individuals more time to budget and plan for payment.
3. Avoiding the January rush: Filing earlier helps avoid the stress and potential technical issues that can (usually!) occur close to the 31st January deadline.
4. Potential refunds: Earlier filers can receive any tax refunds sooner, though if we thought there was a chance of a refund, we’d have that Return in far earlier!
5. Timing: Christmas Day fell midweek in 2024, but a lot of businesses closed on the previous Friday, allowing plenty of time for those last minute preparations to be out of the way. Did some people take advantage of the lull before Christmas really got going to get their Return out of the way?
6. An excuse: Slightly tongue in cheek perhaps, but grabbing a few minutes of peace to file may be preferable to some people than spending more time with their extended family, or, for some, being painfully aware that they’re on their own. Either way, getting it out of the way is a positive step.

An increasing trend…

Substantial numbers of festive filers is not a new event, with HMRC having reported similar patterns in previous years, with thousands of taxpayers choosing to file during the Christmas period.

HMRC believe this behaviour reflects a growing preference for digital services and a desire to manage financial obligations proactively.

And if you haven’t yet filed, the deadline is coming!

For those who haven’t yet filed, please remember the key deadline is 31st January 2025 for your Return for the year ended 5th April 2024 to be filed and for any tax due to be paid.

Filing during the festive season might not be your preference, but getting your Self Assessment done and out of the way for another year can provide numerous benefits. If you’re putting yours off because you’re unsure of any aspect of the Return or need assistance with the filing process, why not get in touch?

We’d be happy to help, though if you become a client we will encourage, cajole and nag you to have your information to us by the end of July in future years, so be prepared for that! As a small firm of two, we cannot cope with a huge flurry of submissions late in the year, so are very clear with clients that they need to help us if we’re to help them!