An estimated one million individuals failed to meet the self-assessment tax deadline, resulting in a £100 fine imposed by HMRC.
Recent data from HMRC reveals that 475,722 taxpayers chose to submit their tax returns on the deadline date of January 31, with 27,456 individuals filing in the final hour before midnight.
Out of an anticipated 12 million tax filers for the 2024/25 tax year, more than 11.48 million managed to meet the deadline. Those obligated to file a self-assessment include self-employed individuals and those earning supplementary income apart from their primary employment.
HMRC’s Chief Customer Officer, Myrtle Lloyd, expressed gratitude to the millions who successfully completed their self-assessment tax returns by the deadline. Lloyd emphasized the importance for those who missed the deadline to promptly file their returns to avoid potential penalties and late payment charges.
Tony’s Chocolonely experienced a surge in chocolate bar sales despite increased prices due to elevated cocoa costs. The chocolatier reported revenues of €240 million (£207 million) for the year ending in September, marking a 20% increase from the previous year. Sales volume also saw a 4% year-on-year growth.
The company disclosed that revenues in the UK and Ireland reached €51.2 million (£44.2 million), reflecting a 14% rise compared to the prior year. CEO Douglas Lamont acknowledged the challenges faced amidst industry price hikes but celebrated the overall 4% growth in sales volume.
A longstanding hotel and restaurant, Guys Thatched Hamlet, abruptly closed its doors after operating for 46 years, leaving patrons disheartened. Located near Bilsborrow in Lancashire, the 65-room hotel situated by the canal on St Michael’s Road ceased operations, resulting in the redundancy of all staff members.
Santander announced 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 provides £250 cashback. The mortgage, requiring a minimum deposit of £10,000, supports loans ranging from £190,000 to £500,000.
Insurance costs have seen a decline, benefiting consumers who opt for monthly payments. The Financial Conduct Authority (FCA) reported a 4.1 percentage point drop in premium finance interest rates since 2022, resulting in annual savings of around £157 million for monthly payers. FCA’s efforts aim to ensure fair value for consumers and monitor market practices closely.