An estimated one million individuals have failed to meet the self-assessment tax deadline and are now facing an immediate £100 penalty from HMRC.
According to the latest data from HMRC, 475,722 taxpayers filed their tax returns on the deadline day of January 31, with 27,456 individuals submitting theirs within the final hour before midnight.
For the tax year 2024/25, more than 12 million individuals were anticipated to file their tax returns and settle any tax liabilities. Surpassing expectations, over 11.48 million people filed on time.
Individuals required to file a self-assessment include those who are self-employed or receive additional income outside their primary employment.
Myrtle Lloyd, HMRC Chief Customer Officer, expressed gratitude to the millions who completed their self-assessment tax return and paid any outstanding taxes by the deadline. She emphasized the importance of those who missed the deadline to promptly file their returns to avoid penalties and late payment interest.
HMRC strongly advises utilizing their digital platforms as the most efficient method for managing tax affairs. Interested individuals can access further information by searching ‘self assessment’ on GOV.UK.
In other news, Tony’s Chocolonely experienced increased sales of chocolate bars despite price escalations due to higher cocoa expenses. The chocolatier reported revenues of €240 million (£207 million) in the year ending September, which marked a 20% rise from the previous year, with sales volume increasing by 4% year-on-year.
Furthermore, the UK and Ireland revenue for Tony’s amounted to €51.2 million (£44.2 million), reflecting a 14% surge from the prior year. CEO Douglas Lamont acknowledged the challenges faced due to industry price hikes but highlighted the successful 4% volume growth achieved.
On a different note, a well-known hotel and restaurant abruptly closed after operating for 46 years, leaving patrons dismayed. Guys Thatched Hamlet near Bilsborrow in Lancashire has officially ceased operations, with reports indicating all staff members have been let go.
A notice affixed to the hotel’s entrance confirmed the closure, noting the extensive amenities the site offered, including a tavern, restaurant, sports pavilion, function rooms, cricket ground, bowling green, and multiple car parks.
The closure announcement stated, “After 46 years of trading, we can confirm Guy’s Thatched Hamlet has now closed.”
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