From pensioners to teenagers, HMRC reveals who files a tax return
HMRC has revealed that more pensioners filed a tax return for the 2020 to 2021 tax year compared to young people.
Overall, those aged 65 and over accounted for 16% of individuals who submitted a tax return, whereas 16 to 24 year olds made up 2.7% of total filers.
The new data is part of analysis by HMRC into the demographic data of the Self-Assessment population. The findings also show:
• people aged 45 to 54 were the largest group of filers, accounting for 24% of all tax returns submitted;
• more than 294,000 16 to 24 year olds filed a return; and
• 62% of those who submitted a return last year were men, compared to 38% who were women.
The data also showed that almost 146,000 people submitted their tax return at the earliest opportunity between 6 and 11 April 2021.
More than 12 million people are expected to file a Self-Assessment tax return for the 2021 to 2022 tax year. Anyone yet to submit theirs has missed the 31 January to complete it, pay any tax owed or set up a payment plan, so they risk having to pay a penalty.
If you would like further information or have any questions, please contact Martin Back on 023 8046 1232