Important Deadlines

Corporation tax

A company’s corporation tax return is due for filing within 12 months after the end of its accounting period. For companies with profits of up to £1.5m, the corporation tax is due for payment by 9 months and 1 day after the end of an accounting period.

Companies are required to notify HMRC when they become active within 3 months of doing so.

Self Assessment

An individual’s self assessment tax return, together with the balance of tax owed is due for filing by 31^st January following the end of a tax year (5^th April). There is an earlier deadline of 31^st December if you want your tax to be collected via your PAYE code. If filing a paper return, however, the usual deadline is 31^st October following the end of a tax year (5^th April).

Payments on account must be made by 31^st January in the current tax year and 31^st July after that.

So, for example, when filing a tax return for 2020/21 tax year, to file online you must file by 31st January 2022 and pay the balance of tax owing for 2020/21 together with the first payment on account for 2021/22. The second payment on account is due by 31st July 2022.

VAT

The deadline for submission of the return and the payment of vat owed is usually 1 month and 7 days after the end of the VAT period. So, for a vat return covering the period 1^st January to 31^st March the deadline will be 7^th May. Setting up a direct debit for the payment of vat can give you a few extra days to pay. These deadlines are different if you are using the annual accounting scheme.

Employers

Payments of PAYE deductions including CIS

Electronic payments: Payment is due by 22^nd of the month following the end of the tax month or quarter to which it relates.

Cheque payments: If paying by post, your cheque payment must be posted early enough to reach HMRC no later than the 19^th of the month following the end of the tax month or quarter to which it relates. HMRC always recommend paying electronically where possible.

If no payment is due for the period then you must notify HMRC of this.

Class 1A National Insurance

Electronic payments should clear by 22^nd July following the tax year to which they relate. Payments by post should reach HMRC no later than 19^th July following the tax year to which they relate.

Employers End of Year Submission

The filing deadline is 19^th April following the end of the tax year.

P11ds

Must be filed with HMRC by 6^th July following the end of the tax year to which they relate.

CIS returns

Must be filed every month by the 19^th following the end on the tax month. So for deductions made in the tax month 6^th April to 5^th May, then return must be filed by 19^th May. The deductions are paid with any other PAYE owed for the period, see above. If no payments have been made under CIS then a nil return must be filed.

Company Accounts

Usually, limited companies must file their accounts with Companies House within 9 months of the end of an accounting period. For more information follow the link:

www.companieshouse.gov.uk

Confirmation Statement

A limited company must deliver a CS01 (previously known as an annual return) to Companies House usually upon the anniversary of the formation of the company. For more information follow the link:

www.companieshouse.gov.uk/about/gbhtml/gp2.shtml#ch1