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There are many key important dates in the UK tax year to be aware of and they can be hard to keep track of. For the newly incorporated companies and people who are new to self-employment, these dates and deadlines might never have been on your radar. Being aware of these dates is equally as important as being upto speed with the current tax rates, allowances and thresholds for the year, so be sure to make note - it could save you in the long run!
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We’ve put together an accounting date timeline, so you can keep track of all your deadlines (except your limited company filing deadlines which varies based on company formation dates and other changes made), along with information on what you’ll be required to do. Use this timeline to set up your calendar reminders and be organised with your accounting and finances.
Also, be sure to check out our super handy Tax Calendar which you can subscribe to from your own Google calendar. To receive automated reminders on key tax dates so you can stay on top of your tax reporting and filing responsibilities.
March 2023
1st - New Advisory Fuel Rates (AFR) for company car users
HMRC will publish the new AFR’s so that company car users can see the advisory fuel rates, when you can use them, and how they’re calculated.
April 2023
5th - Personal Tax Year Ends
A tax year runs from the 5th of April to the 6th of April each year. Often a new tax year means new tax rates and regulations come in.
Our ‘get ready for the end of tax year’ article will provide you with all the information you need to prepare and maximise your tax efficiency.
6th - Personal Tax Year Begins
The new tax year always begins on the 6th of April. Being aware and prepared of any changes for the new tax year is extremely important for managing your finances and avoiding any unexpected payments.
We’ve got an in-depth article covering “Personal and business tax changes for the new tax year” to help you get ready for any new changes in this tax year.
19th - Deadline for employers' final PAYE return (Full Payment Submission) to be submitted & automatic interest is charged where PAYE Tax, Student Loans, Class 1 NI, or CIS deductions are not paid by this day of the month
Full Payment Submission (FPS) informs HMRC of employee’s details, pay, and deductions for the previous financial tax year. You’re required to submit these details by the deadline of the 19th of April.
May 2023
3rd - Deadline for submitting P46 for employees whose car/fuel benefits changed during the quarter to 5th April
The deadline for when you’re required to submit your P46 depends on when you provided the company car, stopped, or changed the company car. If this was done in the quarter ending the 5th of April, then your deadline to file your P46 for these changes would be the 3rd of May.
You can find the form online on HMRC’s website.
31st - Deadline for forms P60 to be issued to employees
A P60 is a summary of your pay and deductions from a specific tax year. On the 31st of May every year your employer will automatically issue your P60 for you. If you’re self-employed you won’t obtain the P60 form as you’re not part of the PAYE scheme. But, if your business has other employees on the books, you’ll be required to issue their P60.
Not sure what a P60 is or why it’s required? Check out our “P60 form” article.
July 2023
6th - Deadline for P11D, P11D(b) and Employment Related Securities to be submitted to HMRC
The P11D form is used to report benefits in kind. These are items or services which you (or your employees) receive from your company in addition to your salary, such as private healthcare, interest-free loans (to pay for train season tickets, for example) and company cars. The deadline for this form to be submitted to HMRC is the 6th of July.
ERS schemes are a method of transferring shares to employees of the company (including directors). ERS schemes can either be tax-advantaged or non-tax advantaged. These also have to be submitted to HMRC by the 6th of July.
Discover more information on P11D forms and the ERS schemes in our Crunch articles.
31st - Second Payment on Account due
This date is for the self-employed to make their second payment in advance towards their tax bill for the year. HMRC split this over two payments to help the self-employed keep on top of their tax bills and payments.
For further information on payment on account, you can check out our POA article covering all you need to know.
August 2023
3rd - Deadline for submitting a P46 (Car) for the quarter ending the 5th of July
The deadline for when you’re required to submit your P46 depends on when you provided the company car, stopped, or changed the company car. If this was done in the quarter ending the 5th of July, then your deadline to file your P46 for these changes would be the 3rd of August.
You can find the form online on HMRC’s website.
October 2023
5th - Deadline for Self Assessment registration to notify HMRC of Income/Capital Gains Tax
By the 5th of October you must’ve registered with HMRC for your Self Assessment following the end of the tax year. If you miss this deadline, you could receive a fine from HMRC, but you’d still be required to register as soon as possible.
We’ve got a step-by-step guide for self-employed income tax, along with a free tax calculator, to help you understand how to register with HMRC for your tax return.
31st - Deadline for postal submission of Self Assessment Tax Returns for tax year ended 5th April to be received by HMRC
The deadline for submitting your paper tax return is the 31st of October. This is earlier than the online submission to allow HMRC enough time to process your paper Self Assessment as this is a longer process. To submit yours, you have to request a paper form from HMRC as they’re no longer automatically sent out.
November 2023
2nd - Deadline for submitting a P46 (Car) for the quarter ending the 5th of October
The deadline for when you’re required to submit your P46 depends on when you provided the company car, stopped, or changed the company car. If this was done in the quarter ending the 5th of October, then your deadline to file your P46 for these changes would be the 2nd of November.
You can find the form online on HMRC’s website.
January 2024
31st - Deadline for filing Self Assessment and Capital Gains Tax & Payment of Self Assessment Tax and first Payment on Account due
Your Self Assessment tax return and capital gains tax is required to be submitted to HMRC by the deadline of the 31st of January or you could endure a fine. Your remaining balance of tax for the previous tax year is due, and your first payment on account for income tax for the current tax year is also due.
February 2024
2nd - Deadline for submitting a P46 (Car) for the quarter ending the 5th of January
A P46 (Car) form needs to be sent to HMRC if you’ve provided a company car to employees, stopped providing a company car, or provided someone with an additional car. If this was done in the quarter up until the 5th of January, then your deadline to submit this will be the 2nd of February.
You can find the form online on HMRC’s website.
Submission deadline for your VAT returns 2023
All businesses are required to submit a VAT return. The submission deadline for your VAT return is 1 month and 7 days after the end of the VAT period. This is for both monthly and quarterly payers. For example, if you have a VAT period that ends on the 30th of October, your VAT return will be due by the 7th of December.
The deadlines are as follows:
7th of January - Deadline for VAT Returns period ending 30th November
7th of February - Deadline for VAT Returns period ending 31st December
7th of March - Deadline for VAT Returns period ending 31st January
7th of April - Deadline for VAT Returns period ending 28th February
7th of May - Deadline for VAT Returns period ending 31st March
7th of June - Deadline for VAT Returns period ending 30th April
7th of July - Deadline for VAT Returns period ending 31st May
7th of August - Deadline for VAT Returns period ending 30th June
7th of September - Deadline for VAT Returns period ending 31st July
7th of October - Deadline for VAT returns period ending 31st August
7th of November - Deadline for VAT Returns period ending 30th September
7th of December - Deadline for VAT Returns period ending 31st October
Monthly deadlines for CIS, NICs and PAYE to HMRC
These are the monthly deadlines for payment to HMRC. For example, if your business has employees and you deduct income tax, National Insurance, student or postgraduate loans etc on a monthly basis, you’ll have until the following deadlines each month to ensure HMRC receives payments. The same rules apply for the Construction Industry Scheme.
The date of the 19th is for submission of older methods, such as cheques by post, to allow HMRC enough time to process these. But, the 22nd is the deadline for payments that clear quickly, such as Bacs. If the deadline is not met, you could receive a fine from HMRC.
To find out more on running payroll, check out the HMRC website.
19th - Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22nd - Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
Get the support you need
If you’re newly self-employed or new to starting your limited company, just started up a business, or you’re just trying to get all of your important accounting dates in your calendar, but you have some burning questions or need some extra support, get in touch with our friendly expert advisors. Our team is always here to assist you with answering your queries or showing you round our software - plus, we've even created online tax calculators to help you when it comes to crunching numbers! Take a look now.
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