Key UK Tax Deadlines Every Small Business Should Know

Missing a tax deadline can mean automatic penalties and interest from HMRC or late-filing penalties from Companies House. The good news is that most deadlines follow a predictable pattern. Here are the key dates every UK small business owner should know.

Self Assessment (sole traders, partners and landlords)

• 5 April: end of the tax year.
• 5 October: deadline to register for Self Assessment if you started self-employment or received new untaxed income in the previous tax year.
• 31 October: deadline for paper tax returns.
• 31 January: deadline for online tax returns and for paying any balance owed, plus your first payment on account for the current year.
• 31 July: second payment on account due.

If you are within Making Tax Digital for Income Tax, you will also need to send quarterly updates by 7 August, 7 November, 7 February and 7 May.

Limited companies

• Corporation Tax payment: due nine months and one day after the end of your accounting period (for most small and medium-sized companies).
• Corporation Tax return (CT600): due 12 months after the end of your accounting period.
• Annual accounts to Companies House: due nine months after your company’s financial year end. A newly incorporated company usually has 21 months from incorporation to file its first accounts.
• Confirmation statement: must be filed at least once every 12 months, within 14 days of the end of the review period.

Remember: Corporation Tax is usually due before the return itself. Many directors are caught out by paying three months too late.

VAT

For most VAT-registered businesses filing quarterly, VAT returns and payments are due one calendar month and seven days after the end of each VAT period. For example, a quarter ending 30 September is due by 7 November. Returns must be submitted using Making Tax Digital-compatible software.

Payroll (PAYE)

• On or before each payday: send a Full Payment Submission (FPS) to HMRC under Real Time Information.
• 22nd of each month: pay PAYE and National Insurance electronically (19th if paying by post) for the previous tax month.
• 31 May: give P60s to employees employed on 5 April.
• 6 July: submit P11D forms for employee benefits and expenses, and pay any Class 1A National Insurance by 22 July (electronically).

Tips to never miss a deadline

• Keep your bookkeeping up to date throughout the year rather than leaving it until the last minute.
• Set up calendar reminders a month before each deadline.
• Put money aside for tax every month so payments are never a shock.
• Use an accountant who manages your compliance calendar for you.

Let us manage your deadlines

Financial United tracks every filing and payment date for our clients and sends timely reminders, so you can focus on running your business. Get in touch for a free, no-obligation quote.