Below are the key dates for personal, employment and business tax including VAT and payroll.
Private Client
31 January – Standard filing deadline for online returns and payment of tax owed including first payment on account. Individuals, trusts and partnerships
1 February – Day on which initial late filing penalty £100 is charged (i.e. one day late for online returns due on 31 January).
5 April – End of tax year Individuals, trusts and partnerships
6 April – Start of tax year Individuals, trusts and partnerships
1 May – If online return not filed by today (i.e. 3 months late for online returns due 31 January), daily penalties of £10/day are charged for each subsequent day that return is not filed (maximum 90 days late). Individuals, trusts and partnerships
31 July – Second payment on account (POA) due Individuals, trusts and partnerships
1 August – If online return not filed by today (i.e. 6 months late for online returns due 31 January), a penalty will be charged of the greater of 5% of the liability to tax or £300
5 October – Deadline for notifying HMRC of chargeability/registering for self-assessment Individuals, trusts and partnerships
31 October – Standard filing deadline for paper returns Individuals, trusts and partnerships
30 December – Filing deadline for online returns if HMRC are to collect owed tax automatically from wages and pension (you must be eligible for this). Individuals, trusts and partnerships
31 January – If online return for prior tax year not filed by today (i.e 12 months late for online returns due 31 January the prior year), an additional penalty of 5% of the liability to tax (or £300 if greater) is charged. Deadline for amending a tax return.
Trusts
All of the dates in the private clients list also apply to trusts except for the 30 December deadline for HMRC to collect tax through your tax code (this is not relevant for trusts).
In addition, trusts have:
31 January – For taxable trusts, this is the deadline for the annual update/confirmation of the details held on the HMRC Trust Register.
1 September 2022 – One off deadline for non-taxable trusts in existence on or after 6 October 2020 to be registered on the HMRC Trust Registration Service.
Business Tax
The main deadline is 12 months after the end of the accounting period for submission of the corporate tax return, which could be any day of the year but generally the end of most months.
Corporate tax payment is as follows:
- ‘Small’ companies – due 9 months and 1 day after the end of the accounting period,
- ‘Large’ companies (profits > £1.5m) – first instalment due six months and 13 days after the first day of the accounting period. Quarterly thereafter.
- ‘Very large’ companies (profits > £20m) – first instalment two months and 13 days after the first day of the accounting period. Quarterly thereafter.
We also take care of corporate NRL returns, but these are now within corporation tax and so subject to the same rules as above.
For the Annual Tax on Enveloped Dwellings (ATED), an annual return is due by 30 April at the beginning of each year (running 1 April – 31 March). Companies who fall into the regime part way through a year must submit a return within 30 days of acquiring a relevant property (UK residential >£500,000), or within 90 days if the property is a new build. Payments are due by the same dates.
VAT
For VAT returns, the reporting dates vary depending upon individual reporting cycles.
- Quarterly returns (staggered and so all three cycles available) are the norm with repayment traders often on monthly – due date for filing quarterly and monthly returns/paying tax is 1 month + 7 days after the end of the period. E.g. Due date for period ending 30 June is 7 August.
- Some taxpayers are on annual returns (all 12 cycles available) – due date for filing annual returns is 2 months after end of the period. E.g. Due date for period ending 31 July is 30 September.
3 or 9 interim payments of fixed amounts as advised by HMRC need to be made on last working day of the 4th and each successive month/quarter during the year. Any balancing payment needs to be paid by the due date for filing the return. (If balancing adjustment in favour of taxpayer, this will be repaid in due course after submission of return).
- Taxpayers within the payments on account regime (essentially large payers having an annual liability > £2.3 million) – due date for filing quarterly returns is the end of the following month. E.g. Due date for period ending 30 June is 31 July.
8 interim payments of fixed amounts as advised by HMRC need to be paid by the end of months 1,2,4,5,7,8,10 and 11 during the year. Balancing payments (if any) need to be paid to take into account months 3,6, 9 and 12 when filing the quarterly returns.
Taxpayers can agree special reporting periods with HMRC and there are other schemes and time limits for making notifications. Partial exemption is worth a mention (as it affects quite a few taxpayers although not many) but there is no point in worrying about any others.
All taxpayers have a tax year which normally covers the year to 31 March, 30 April or 31 May (depending upon reporting cycle). Different tax years can be agreed. Tax years don’t count for much unless annual adjustments need be made under the partial exemption rules. Any adjustments because of partial exemption need to be made on the first VAT return of the following year or the final return of the year in question.
Employment Tax
3 May – P46(car) paper submissions – company car changes in the period 6/1 – 5/4
31 May – Short Term Business Visitor reporting
4 July – Deadline by which employees must make good PAYE income tax arising in respect of employment related securities before a penal s222 charge applies
6 July – P11D, Employment Related Securities returns filing deadline. Deadline for agreeing PAYE Settlement Agreements
19/22 July – deadline for payment of class 1A NIC (later date if paying electronically)
31 July – PAYE Settlement Agreement calculation deadline (specified in PAYE Settlement Agreement)
2 August – P46(car) – company car changes in the period 6/4 – 5/7
31 August – PAYE Settlement Agreement calculation deadline (specified in PAYE Settlement Agreement)
19/22 October – Deadline for payment of income tax and class 1B NIC arising under PAYE Settlement Agreement (later date if paying electronically)
2 November – P46(car) – company car changes in the period 6/7 – 5/10
2 February – P46(car) – company car changes in the period 6/10 – 5/1
5 April – P46(car) electronic submissions – company car changes in the period 6/1 – 5/4
Payroll
19th of every month – Deadline for payment of PAYE & NICs etc to HMRC’s Accounts Office by non-electronic method. Last day for submitting a real time information employer payment summary to apply to tax month.
22nd of every month – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method. For employers who qualify for quarterly payments, the payment deadline is as above but for the month following the end of the quarter.
31 May – Employers must give a form P60 to each employee working for them at 5th April and for whom they have filed a FPS.
6 July – Filing deadline date for Expenses and Benefits forms P11D(b) and P11D to reach HMRC. Last date to give forms P11D to relevant employees
31 July – PAYE settlement agreement submission date. Real Time Information submissions should be filed on or before pay day.
