An estimated one million individuals failed to meet the self-assessment tax deadline, resulting in an immediate £100 penalty from HMRC.
According to the latest data from HMRC, 475,722 taxpayers submitted their tax returns on the deadline day (January 31), with 27,456 individuals filing theirs in the final hour before midnight.
For the tax year 2024/25, over 12 million people were anticipated to file tax returns and settle any outstanding tax liabilities. Of these, more than 11.48 million individuals managed to file on time.
The requirement to file a self-assessment applies to those who are self-employed or receive supplementary income apart from their regular employment.
HMRC’s Chief Customer Officer, Myrtle Lloyd, expressed gratitude to the millions who complied with the self-assessment deadline. Lloyd advised individuals who missed the deadline to promptly file their returns to avoid penalties and late payment charges.
Emphasizing the ease and speed of using HMRC’s digital channels for tax matters, Lloyd recommended accessing more information by searching “self assessment” on GOV.UK.
In a positive business development, Tony’s Chocolonely experienced increased sales of chocolate bars in the past year, despite price hikes due to elevated cocoa costs.
The chocolatier reported revenues of €240 million (£207 million) for the year ending September, marking a 20% rise from the previous year. Additionally, sales volume increased by 4% year-on-year.
Tony’s Chocolonely disclosed that revenues in the UK and Ireland amounted to €51.2 million (£44.2 million), a 14% surge compared to the prior year.
CEO Douglas Lamont acknowledged the challenges faced by the industry due to price escalations but highlighted the company’s achievement in growing sales volume by 4%.
In a disappointing turn of events, a well-known hotel and restaurant abruptly closed its doors after operating for 46 years, leaving customers saddened.
Situated near Bilsborrow in Lancashire off the A6, Guys Thatched Hamlet officially announced its closure. The hotel, featuring 65 rooms and located by the canal on St Michael’s Road, terminated all staff members.
A closure notice affixed to the hotel’s entrance confirmed the end of operations after 46 years of service, detailing the vast 14-acre site’s amenities, including a tavern, restaurant, sports pavilion, function rooms, cricket ground, bowling green, and three car parks.