Sainsbury's Bank: Don't miss assessment deadline

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Sainsbury's Bank: Don't miss assessment deadline

People are being urged not to miss the self-assessment tax deadline by loan manager at Sainsbury's Bank Steven Baillie, as this scenario will result in a £100 fine being issued by HM Revenue & Customs.

Last year, around 900,000 individuals missed the deadline and Sainsbury's Bank says that almost £50 million will come from personal loans in order to settle tax bills.

For those wishing to take out a loan to cover the cost of a personal tax bill, Sainsbury's Bank offers its customers the opportunity to purchase one starting at 6.5 per cent typical APR.

Mr Baillie said: "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 January 31st 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."

Sainsbury's Bank personal loans are available between £1,000 and £25,000 and require no repayments during the initial three months.

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