1.8m aged 65 and over submitting tax returns

Latest data from HMRC has revealed that many more pensioners are filing tax returns than younger taxpayers. Those aged 65 and over accounted for 16% of all individuals who submitted a tax return in 2020/2021 compared to just 2.7% of 16 to 24 year olds. More than 1.8m people aged 65 and over submitted a tax return during the year. Figures for the 2020/2021 tax year showed that people submitting annual tax returns are increasingly older. Tax returns are normally sent to those who are self employed or have the most complex tax affairs. The demographic research revealed that people aged 45 to 54 are now the most likely group to submit a tax return. Nearly 2.6m people in this age group submitted a return. Data also showed that many more men than women are submitting self assessment tax returns. HMRC demographic research of the Self Assessment population found: • 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, 2.7% of total filers • 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. The tax return deadline for this year is 31 January and late tax returns risk a penalty.

1.8m aged 65 and over submitting tax returns

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