When is the tax return deadline?
January 31 marks the deadline for self-assessment customers to file their online tax returns.
You may face a £100 penalty if you fail to report after that date.
The deadline for filing paper form tax returns was October 31 last year, but thousands can still file online.
Either way, there’s a calculator on the Government’s website you can use to figure out how much you’ll have to pay in fines if you file late.
The toughest saving challenge
The fiver challenge is one of the most hardcore savings tests but it’ll leave you rolling in it if you succeed.
It works wonders for those saving for a milestone, like a home deposit, wedding, car, or another big purchase.
To make this challenge more achievable, you can take it on with a partner – so each of you save £2.50 to begin with.
This challenge works the same as the 52-week challenge, but you go up in multiples of £5 rather than £1.
So you save £5 in week one, £10 in week two, and up to £260 in week 52.
Lidl’s homeware range back in store
The Sanitas Heated Underblanket is back on shelves for £19.99.
With six heat settings, you can be sure to find a temperature that heats your needs.
The gadget also comes with an auto shut-off system so you won’t be able to leave it on all night by mistake.
The blanket costs just 2p per hour to run, compared with a 24KW boiler costing £13.44.
Lifetime Allowance to be scrapped this year
The Lifetime Allowance will be no more come April 2024.
Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said, “This is great news for those with large pension pots who faced tax charges if they breached the £1,073,100 limit.
“Its removal sounds easy in practice, but the reality is that the industry has to get to grips with a complex set of rules before this can happen.”
The move specifically targets doctors who leave the NHS early to avoid being trapped by taxes on their savings.
Reduce heating bill by 10% by turning it down by one degree
You can reduce your overall heating bill by 10% by turning it down by just one degree, according to Energy Saving Trust.
If you are able to brave the cold a bit more – you can shave more than £380 off your energy bills if you turn your thermostat down by three degrees from 23°c to 20°c.
The World Health Organisation suggests that most healthy people should heat their homes to 18°C, so you could save even more by reducing it even further.
14 errors that could be costing you a small fortune
According to Uswitch, around 93% of households admit to one of these bad energy habits.
This includes anything from overfilling the kettle to leaving lights on – but doing so could unnecessarily add hundreds of pounds more to our energy bills.
Take a look at the top errors below.
This post first appeared on thesun.co.uk
