/24-7PressRelease/ - LONDON, UK, January 12, 2007 - HM Revenue & Customs reveals that around 900,000 people failed to turn up for last year's January self-assessment deadline, thus incurring an automatic 100 fine.
According to Sainsbury's Bank, there could be a healthy amount of personal loans taken this year. In fact, the bank believes that nearly 50 million will be availed in personal loans to pay off tax bills. The average loan amount for this purpose is expected to be just under 11,000.
Steven Baillie, loans manager of Sainsbury's Bank, states: "Some people can find themselves facing a tax bill that is considerably higher than they had been expecting and to help cover this, will take out a personal loan. With the 31st January deadline just around the corner, those doing this need to ensure that they have shopped around for a competitive rate, can get an instant decision and access to the funds as quickly as possible, and whatever they do, don't incur the 100 late penalty."
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