Tax year
The Start of the Tax year April 6th
The End of the Tax year April 5th
Key accounting dates throughout the year
Self-Assessment Tax Return
Tax Return Deadline 31st January
Overpaid tax deadline for reclaiming 5th April
Deadline for second payment on account for Tax year ending in current year 31st July
Deadline to register for Self-assessment for self-employed and rental profits 5th October
PAYE
P60s Issued to employees 31st May
P11D’s issued to employees 6th July
PAYE Bill must be paid by 22nd of the next month (monthly)
Or payable by the 22nd of the month ending if paid quarterly
VAT Returns
The return deadline is (m+2 or VAT Return deadline) plus 1 month and 7 days.
With the VAT annual accounting scheme, you make an advanced payment towards your bill, based on your last return and submit 1 return a year.
There are 12 Months in your VAT accounting period, the return is due 2 Months after the VAT accounting year (m+12) + 2 Months.
Advance payments are to be made towards annual accounting VAT, monthly advance payments are to be paid in months (m4, m5, m6, m7, m8, m9, m10, m11, m12) and paid quarterly (m4, m7, m10), with the final payment in both cases being paid as stated above, (m+12) + 2 Months.
Corporation Tax Return
Assessable on company’s accounting period, no longer than 12 Months, may be shorter in first year.
Corporation Tax payable 9 Months & 1 Day.
Tax return 12 Months after Accounting period
Late fling penalties include…
1 Day £100
3 Months another £100
6 Months HMRC estimate tax bill and + 10%
12 Months a further 10%
Year End Company accounts
Filing annual accounts 9 months after financial year ends
Confirmation Statement
Review period 12 Months
File within 14 days of the review period