We are approaching the year end and I thought it would be handy to post a list of important dates and deadlines that may be of benefit to you and your business.
Make a note of the dates that apply to you and avoid any penalties or sign up to our newsletter and receive a printable version.
Start if the new tax year 2021/22
Updates to tax rates, minimum wages and pensions take affect
Year end payroll deadline
Deadline for issuing employees with their P60
Deadline for filing P11D(b) and issuing P11Ds to any applicable employees
Deadline for paying Class 1A NIC (applicable on benefits paid to employees)
Second payment on account for the year end 5th April 2021 due
Deadline for registering as self employed for the tax year ending 5 April 2021 (https://www.gov.uk/register-for-self-assessment)
Deadline for submitting SA1 form informing HMRC you have income from property
Deadline for submitting paper self assessment tax return for year end 5 April 2021
Deadline for submitting self assessment tax return for year end 5 April 2021 and you owe less than £3,000. You can request that HMRC collect this via your PAYE tax code if you submit by this date
Deadline for submitting self assessment tax return for year end 5 April 2021 and paying any tax due
First payment on account due for year end 5 April 2022
Last day of the 2021/22 tax year
Deadline for submitting a PAYE tax rebate claim for 2017/18
Deadline for claiming overpaid tax for 2017/18 under self assessment
Corporation tax payments are due 9 months and 1 day after the financial year end. Eg. If your year end is 31st October 2020 your corporation tax payment would be due by 1st August 2021.
Payments for PAYE and NI are due by the 22nd of the month after payment of wages (19th if paying by cheque). Eg. for wages paid on 30th April the PAYE and NI would be by 22nd May.
VAT returns are due for submission and payment 1 month and 7 days after the quarter end date. Eg. If your quarter end is 31st March then you would need to submit and pay your VAT by 7th May.