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“A Guide to UK Tax Due Dates: Stay on Top of Your Financial Responsibilities”
Managing your finances is a crucial aspect of professional and commercial life in the United Kingdom and understanding the various tax due dates is a fundamental part of this responsibility. Staying informed about these dates will help you avoid penalties and ensure that you meet your tax obligations in a timely manner. In this blog post, we’ll provide you with an overview of the key tax due dates in the UK to help you stay organized and avoid any last-minute rushes.
All of HMRC’s key tax dates are right here – including deadlines for self-assessment, submitting VAT returns, monthly PAYE dates, and the P11D deadline for 2023-24.
When does the 2023-24 tax year begin and end?
The 2023-24 tax year runs from April 6th, 2023 and ends on April 5th 2024. Each tax or financial year has a series of important deadlines that are crucial for businesses, investors, and trustees to follow. Penalties can be applied by HMRC for late submissions and payments.
April 2023
- 5th April – End of the last tax year deadline for claiming your PAYE tax refund for the 2018/ 2019 tax year.
- 6th April – First day of the new tax year 2023/24, time to gather detailed documents for your 2022/23 tax return.
- 19th April – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd April – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
May 2023
- 3rd May – P46 (car) paper submissions – company car changes in the period 6th Jan – 5th April
- 19th May – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd May – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 31st May – PAYE copies of 2022/23 P60 documents must be issued to employees and deadline for Automatic Exchange of Information (AEOI) returns for the year ended 31st December 2022
June 2023
- 19th June – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd June – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 30th June – VAT tax return deadline
July 2023
- 4th July – Deadline by which employees must make good PAYE income tax arising in respect of employment related securities before a penal s222 charge applies.
- 6th July – Filing deadline date for Expenses and Benefits forms P11D(b) and P11D to reach HMRC.
- 19th July – Deadline for payment of PAYE and NUCs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd July – Deadline for online payment of PAYE and NUCs etc to HMRC’s Accounts Office
- 31st July – PAYE Settlement Agreement calculation deadline (specified in PAYE Settlement Agreement), second payment on account (POA) due for individuals, trusts, and partnerships.
Deadline for making ‘scheme pays’ elections (where eligible) to request a pension scheme pays the annual allowance tax charge for the 2021/22 tax year.
August 2023
- 2nd August – P46 (car) – company car changes in the period 6th April – 5th July
- 19th August – Deadline for payment of PAYE and NICs etc to HMRC’s Accountants Office by non-electronic methods
- 22nd August – Deadline for online payment of PAYE and NICs etc to HMRC’s Accountants Office
- 31st August – PAYE Settlement Agreement calculation deadline (specified in PAYE Settlement Agreement)
September 2023
- 19th September – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd September – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 30th September – VAT tax return deadline
October 2023
- 5th October – Deadline to register with the HMRC if you became self-employed or started receiving income from property.
- 19th October – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd October – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 31st October – Deadline for paper Self-Assessment returns for 2022/23 tax year (midnight)
November 2023
- 2nd November – P46 (car) – company car changes in the period 6th July – 5th October
- 19th November – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd November – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
December 2023
- 19th December – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd December – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 30th December – Deadline for online submission of Self-Assessment tax returns for year ending 5th April 2022 for HMRC to collect employment or pension income tax through PAYE tax codes if less than £3,000 is owed.
- 31st December – Deadline for filing your company’s annual accounts if you have a limited company with an accounting year end of 31st March.
January 2024
- 19th January – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd January – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
- 31st January – Standard filing deadline for online returns and payment of tax owed including first payment on account. For taxable trusts, this is the deadline for the annual update/ confirmation of the details held on the HMRC Trust Register
- Exemptions – HMRC must receive a paper tax return by 31st January if you are a trustee of a registered pension scheme or a non-resident company. You cannot send a return online.
February 2024
- 2nd February – P46 (car) – company car changes in the period 6th October – 5th January
- 19th February – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd February – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
March 2023
- 19th March – Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic methods
- 22nd March – Deadline for online payment of PAYE and NICs etc to HMRC’s Accounts Office
April 2024
End of tax year 2023/24
A note on VAT tax return deadlines
Small businesses typically file a VAT return four times a year, with deadlines governed by the Making Tax Digital (MTD) for VAT legislation. This requires all VAT-registered businesses to use MTD-compliant software. The most common quarterly VAT return dates are as follows:
- 1st January – 31 March
- 1st April – 30 June
- 1st July – 30 September
- 1st October – 31 December
Each VAT return must be filed one month and seven days after the end of the corresponding quarterly period. For instance, the VAT return that covers 1 January-31 March 2023 must be submitted to HMRC by 7 May 2023.
Exceptions
Submit your online return by 30 December if you want HMRC to automatically collect tax you owe from your wages and pension. You must be eligible.HMRC must receive a paper tax return by 31 January if you are a trustee of a registered pension scheme or a non-resident company. You cannot send a return online.
Staying informed about UK tax due dates is essential for individuals and businesses alike. Missing deadlines can result in penalties and unnecessary stress. To avoid these issues, use financial management tools, set reminders, and consider seeking professional advice when necessary. Being proactive and organized will help you meet your tax obligations while focusing on your financial goals. Remember that tax laws can change, so it’s advisable to consult with a tax professional or refer to the latest information on the HMRC website to ensure compliance with current regulations.
If you want to find out more, get in touch with our team today.
We are reachable at shikha@omnirichfinancials.com for any queries.
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“A Guide to UK Tax Due Dates: Stay on Top of Your Financial Responsibilities”
Managing your finances is a crucial aspect of professional and commercial life in the United Kingdom and understanding the various tax due dates is a fundamental part of this responsibility. Staying informed about these dates will help you avoid penalties and ensure that you meet your tax obligations in a timely manner. In this blog post, we’ll provide you with an overview of the key tax due dates in the UK to help you stay organized and avoid any last-minute rushes.
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