An approximate one million individuals failed to meet the self-assessment tax deadline and now face an immediate £100 penalty from HMRC.
New figures released by HMRC indicate that 475,722 taxpayers procrastinated until the deadline day (January 31) to submit their tax returns, with 27,456 individuals filing theirs within the final hour before midnight.
Over 12 million people were anticipated to file a tax return and settle any taxes owed for the 2024/25 tax year, with more than 11.48 million individuals meeting the deadline.
Individuals required to file a self-assessment include those who are self-employed or generate additional income outside their primary job.
Myrtle Lloyd, HMRC Chief Customer Officer, expressed gratitude to the millions who filed their self-assessment tax return and settled any taxes due by January 31.
Lloyd advised those who missed the deadline to promptly submit their return to avoid potential penalties and late payment charges. She recommended utilizing HMRC’s digital channels for a swift and convenient tax resolution.
Tony’s Chocolonely experienced an increase in chocolate bar sales last year despite price hikes due to elevated cocoa costs.
The chocolate company disclosed revenues of €240 million (£207 million) for the fiscal year ending in September, marking a 20% surge from the previous year. Sales volume also increased by 4% year-on-year.
In the UK and Ireland, Tony’s reported revenues of €51.2 million (£44.2 million), up by 14% compared to the prior year.
CEO Douglas Lamont acknowledged the industry challenges faced due to price increases but noted their successful 4% volume growth amid the adversities.
A well-known hotel and restaurant abruptly closed its doors after operating for 46 years, leaving patrons saddened.
Guys Thatched Hamlet, situated near Bilsborrow in Lancashire, confirmed its closure, impacting its 65-room hotel located by the canal on St Michael’s Road. Reports indicate that all staff members have been laid off.
A closure notice affixed to the hotel entrance confirmed the cessation of operations after nearly five decades of service.
Aldi has rolled out price reductions on numerous products in January, covering a wide range from fresh and frozen foods to household essentials and personal care items.
The markdowns include essential items and healthy choices, such as red lentils now priced at 99p from £1.39 and reduced porridge sachets at 79p from 99p.
Julie Ashfield, Chief Commercial Officer at Aldi UK, emphasized the brand’s commitment to offering customers affordable prices without compromising quality, especially during times when shoppers face financial strain.
Approximately one million individuals are poised to receive fines for missing the self-assessment deadline, as confirmed by HMRC.
Out of the total of 11.48 million individuals who successfully filed their tax returns by January 31, a vast majority of 97.25% opted for online submissions.
A surge in last-minute filings was observed, with 475,722 taxpayers waiting until the final day to submit their returns, and 27,456 individuals submitting theirs in the eleventh hour.
For those who failed to meet the deadline, an initial £100 fixed penalty awaits, even if there is no tax liability. Subsequent daily penalties of £10 per day, up to a maximum of £900, will be imposed for delays exceeding three months.
Additional penalties for late payments start at 5% of the unpaid tax at 30 days, six months, and 12 months, along with accrued interest on delayed tax payments.
Hundreds of households may qualify for £300 worth of free supermarket vouchers as part of cost-of-living support initiatives.
Surrey County Council is distributing aid through the Household Support Fund, aiming to assist vulnerable families with essential items. Residents can apply for the Everyday Essentials E-Voucher scheme if they are facing financial difficulties.
The vouchers can be redeemed at various supermarkets, including Aldi, Asda, Farmfoods, Iceland, Morrisons, Sainsbury’s, Tesco, and Waitrose.
Santander has introduced a new 98% loan-to-value mortgage tailored for first-time homebuyers.
Dubbed ‘My First Mortgage,’ the five-year fixed-rate deal offers a rate of 5.19%, with no product fee and £250 cashback, available through Santander mortgage advisers or brokers.
Applicants must provide a minimum £10,000 deposit, with loan amounts ranging from £190,000 to £500,000.
David Morris, head of homes for Santander UK, recognized the challenges of saving for a deposit and highlighted the brand’s efforts to accommodate aspiring homeowners in today’s economic landscape.
Food price inflation has eased to its lowest level since last April, according to recent data.
Research by Worldpanel revealed a 4% average increase in grocery prices last month, a slight decline from December’s 4.3%. The report indicated a growing preference for supermarket own-brand products
