An estimated one million individuals have missed the deadline for self-assessment tax submissions, resulting in a £100 fine imposed by HMRC.
Recent statistics from HMRC reveal that on the deadline day of January 31, 475,722 taxpayers submitted their tax returns, with 27,456 individuals filing just before midnight. Out of an anticipated 12 million tax filers for the 2024/25 fiscal year, over 11.48 million met the deadline.
Individuals required to file self-assessment tax returns include self-employed individuals and those with additional income beyond their primary employment.
Myrtle Lloyd, HMRC Chief Customer Officer, expressed gratitude to the millions who complied with the deadline, emphasizing the importance of prompt filing to avoid penalties and late payment interest. HMRC recommends the use of digital channels on GOV.UK for efficient tax management.
Despite higher cocoa costs leading to price increases, Tony’s Chocolonely experienced a boost in sales, generating revenues of €240 million (£207 million) in the year ending September, marking a 20% increase from the previous year. Sales in the UK and Ireland reached €51.2 million (£44.2 million), a rise of 14%.
Chief Executive Douglas Lamont acknowledged the challenges faced due to industry price hikes but highlighted the company’s 4% volume growth amid the adverse market conditions.
Guys Thatched Hamlet, a renowned hotel and restaurant near Bilsborrow in Lancashire, has closed its doors after 46 years of operation, leaving patrons saddened. The closure was confirmed with a notice posted at the establishment’s entrance, signaling the end of its long-standing presence.
Aldi has slashed prices on a wide range of products in January, spanning fresh and frozen foods, pantry staples, household essentials, and personal care items. The price reductions encompass everyday essentials and nutritious choices, such as red lentils reduced to 99p from £1.39 and porridge sachets discounted to 79p from 99p.
HMRC reported that approximately one million individuals failed to meet the self-assessment deadline, facing an initial £100 penalty. Late filers risk additional daily penalties of £10 up to a maximum of £900 if the return is not submitted within three months. Further penalties apply for late payments, including interest on outstanding taxes.
Surrey County Council is offering free supermarket vouchers worth £300 to hundreds of households as part of the Household Support Fund, aimed at assisting vulnerable families struggling to afford essentials. Residents can apply for the vouchers through the Everyday Essentials E-Voucher scheme at various supermarkets, including Aldi, Asda, Morrisons, Tesco, and Waitrose.
Santander has introduced a new 98% loan-to-value mortgage tailored for first-time homebuyers. The ‘My First Mortgage’ five-year fixed-rate deal offers a rate of 5.19%, with no product fee and £250 cashback, accessible through Santander mortgage advisers or brokers. Applicants must provide a minimum deposit of £10,000, with loan amounts ranging from £190,000 to £500,000.
