Key Tax Dates for Business Owners
April 6th heralds the start of the new tax year in the UK. Here are the key tax dates that business owners need to know for 2015/16.
PAYE, NICs and CIS
Remittance of PAYE, NICs and CIS is due to HMRC monthly, no later than:
• 19th of the month by postal payment
• 22nd of the month by electronic payment
VAT
Returns and payments on VAT are due according to your business’ accounting year:
| For accounting quarter ending on | Payment due on |
| 28 February | 7 April |
| 31 March | 7 May |
| 30 April | 7 June |
| 31 May | 7 July |
Other key tax dates
6 April – Tax year begins.
19 April – Final submission of Real Time Information (RTI) for last tax year, including end of year questions.
22 April – Deadline for electronic payments to be cleared by HMRC for previous tax year.
31 May – Deadline for employees to receive P60; P11d to be filed with HMRC.
6 July – P9D, P11D, P11D(b) for 2014/15 to be filed with HMRC.
19 July – Deadline for Class 1A payment (postal).
22 July – Deadline for Class 1A payment (electronic).
31 July – 2nd Payment on Account of tax for 2014/15; Additional 5% surcharge added to unpaid tax bills for 2013/14 tax year.
30 September – PLCs file accounts at Company House.
1 October – New minimum wage applies; Corporation Tax due for small companies with accounts period ending 31 December.
5 October – Deadline to register for Self-Assessment for 2014/15 Tax Year.
19 October – Payment of tax and Class 1B NIC in respect for PSAs.
31 October – Deadline for filing Paper Income Tax Return with HMRC.
30 December – Deadline for filing Income Tax return with HMRC if you want any Tax collected through your PAYE Coding (under £3,000).
1 January – Corporation Tax due for small/medium companies with accounts period ending 31 March
31 January – Deadline for ‘balancing payments’ (Self-assessment) for 2014/15; 1st Payment on Account of tax for 2015/16.
1 February – Interest charged on unpaid 2014/15 tax bill balance from this date.
5 April – Tax year ends.
As an alternative to remembering all of these dates, however, you could opt to leave everything for your accountant to calculate and submit with the help of a modern online accounting package!
