Khandro, omicron is highly transmissible. Hospitalisation of a patient with Omicron in the UK has occurred this weekend but you are correct that no deaths have occurred here to date.
Epidemics don't always end because of herd immunity, but herd immunity is unlikely to be achieved with covid for a number of reasons.
Firstly, the virus continues to mutate and there have been subtle but minor changes to the spike protein in sequencing results since omicron came on the scene. These changes may be of no great significance but there have been hundreds of mutation since the Wuhan virus was discovered, some of which have proved dangerous, others not so.
Secondly, the difficulty is that herd immunity is unlikely to be achievable due to the massive number of people who do not wish to have the vaccine, the group that cannot be vaccinated for medical reasons and people like those with no fixed address that are missing from official records. People coming and going into the UK unrecorded is also problematical. Whilst the unvaccinated are out there in the community, they remain vectors of the disease and again herd immunity will never be possible. Remember that a new mutation is more easily achievable for the virus in the unvaccinated.
Vaccines are there to reduce the risk of hospitalisation, reduce the risk of serious illness and death and reduce the risk of a patient catching or transmitting the virus. Right now, if enough people catch the omicron variant and end up in hospital, that will be a catastrophe for the NHS and I'm with the great and the good on that.