An approximate one million individuals have failed to meet the deadline for their self-assessment tax returns and are now subject to an immediate £100 penalty from HMRC.
According to the latest data from HMRC, 475,722 taxpayers chose to file their tax returns on the deadline day of January 31, with 27,456 individuals submitting theirs just before midnight.
For the 2024/25 tax year, over 12 million people were anticipated to file tax returns and settle any taxes owed. Surpassing expectations, more than 11.48 million individuals managed to file on time.
Individuals required to file self-assessment tax returns include those who are self-employed or earn additional income beyond their primary employment.
HMRC’s Chief Customer Officer, Myrtle Lloyd, expressed gratitude to the millions who successfully filed their self-assessment tax returns and paid any outstanding taxes by the deadline. Those who missed the deadline are urged to submit their returns promptly to avoid penalties and late payment interest.
Tony’s Chocolonely experienced a surge in chocolate bar sales last year despite price hikes attributed to increased cocoa costs. The company reported revenues of €240 million (£207 million) in the fiscal year ending in September, marking a 20% increase from the previous year. Sales volume also saw a 4% year-on-year growth.
CEO Douglas Lamont acknowledged the challenges faced by the industry due to price escalations but highlighted their achievement in growing sales volume amid such circumstances.
In a sudden development, the popular Guys Thatched Hamlet hotel and restaurant, a fixture for 46 years near Bilsborrow in Lancashire, has permanently closed, leaving customers saddened. The 65-room hotel, situated by the canal on St Michael’s Road, has ceased operations, resulting in the redundancy of all staff.
The closure notice affixed to the hotel’s entrance confirmed the end of its 46-year tenure. The extensive site, spanning nearly 14 acres, featured various amenities, including a tavern, restaurant, sports pavilion, function rooms, cricket ground, bowling green, and three car parks.
Aldi has implemented price reductions on a wide range of products throughout January, encompassing fresh and frozen foods, pantry essentials, household supplies, and personal care items. The reductions involve everyday staples and nutritious selections, such as red lentils now priced at 99p down from £1.39, and porridge sachets reduced to 79p from 99p.
Julie Ashfield, Chief Commercial Officer at Aldi UK, emphasized the company’s commitment to consistently reviewing prices to offer customers the most competitive rates without compromising quality. The latest price cuts cover numerous everyday products, including healthy options, as part of Aldi’s ongoing dedication to value-driven offerings.
Approximately one million individuals are facing penalties after missing the self-assessment tax deadline, as confirmed by HMRC. While 11.48 million individuals successfully filed their tax returns by January 31, with an overwhelming 97.25% completed online, a significant portion failed to meet the deadline, triggering an initial £100 fixed penalty regardless of owing taxes.
Late filers risk accruing additional daily penalties of £10 up to a maximum of £900 if they continue to delay filing. Furthermore, penalties for late payment commence at 5% of the unpaid tax after 30 days, escalating at six-month and twelve-month intervals. Interest charges will also apply to overdue tax payments.