Tax Calendar Key Dates
Income Tax for the Year 2023/2024
31st January 2024 – 1st Payment on account due (based on the 2022/2023 liability).
5th April 2024 – End of 2023/2024 tax year
6th April 2024 – Start of 2024/2025 tax year
31st May 2024 – Employees must be provided with P60 documents by this date.
31st May 2024 – Pensioners must be provided with a P60 (or an income statement where no tax has been deducted) by any private pension providers.
6th July 2024 – Employees in receipt of benefits in kind (eg private medical insurance) should be provided with a P11d by this date.
31st July 2024 – The second payment on account for 2023/2024 is due for payment.
5th October 2024 – Deadline for new 2023/2024 Self Assessment registrations with HMRC
31st October 2024– Deadline for submitting a paper tax return (with very few exceptions)
30th December 2024 – Deadline for submission of a tax return where tax due (up to £3,000) is collected monthly through the 2025/2026 PAYE tax code, subject to having sufficient income taxed under PAYE.
31st January 2025 – Final deadline for submission of the Tax Return
31st January 2025 – Due date for the balance of any tax due for 2023/2024
31st January 2025 – 1st Payment on account towards any 2024/2025 tax liability
HMRC are modernising the tax system and will be introducing Making Tax Digital for income tax (MTD ITSA) from April 2026, for more information please see our article on the modernisation of the tax system.
VAT
VAT returns are made up to a month end and are usually submitted quarterly, but can be submitted annually or monthly. For quarterly or monthly returns the filing deadline for the return is one month and 7 days following the period end, payment is also due on the same day, unless a direct debit mandate is in place. E.g. for the quarter (or month) ending 30th June 2024 the filing and payment deadline will be 7th August 2024, although direct debit payments will be taken on 10th August.
For those on the Annual Accounting scheme instalment payments are required throughout the year, the VAT return and any balancing payment or refund is due 2 months after the VAT year end.
Corporation Tax
Corporation Tax deadlines are applied in relation to the year end of Company and vary in the 1st year (where they are typically up to 1 month shorter) and any subsequent period where the year end has been changed.
In a normal year a private limited company (not a PLC) has 9 months from the accounting year end to submit accounts to Companies House, 9 months and 1 day to pay any Corporation Tax and 12 months to file a Corporation Tax Return. For a Company with a 31st December 2023 year end the due dates would be as follows
Statutory Accounts due for submission to Companies House 30th September 2024
Corporation Tax payment due date 1st October 2024
Corporation Tax return filing due date 31st December 2024
For a year end of 31st March 2024 the dates would be:-
Statutory Accounts due for submission to Companies House 31st December 2024
Corporation Tax payment due date 1st January 2025
Corporation Tax return filing due date 31st March 2025
It should be noted that different Corporation Tax payment dates apply for large (annual profits above £1.5m) and very large (annual profits above £20m) companies.
Additional deadlines also apply where a Company is paying interest on credit balances held in directors loan accounts, please contact us for further details.
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