Important Dates from your accountant

To make sure you’re ‘in the know’ about upcoming dates and deadlines in the UK accounting tax calendar, we’ve popped them all into a handy list so they’re in one place. All you need to do now is pop the dates in your diary, or print this page out and pin it up for a bit of numbers-based artwork if that’s your thing.

 

2023 Accounting Calendar

 

January

1^st: VAT Penalty Changes

A new penalty and interest regime for the late submission of VAT returns and late payment will apply for periods beginning on or after 1^st January 2023. These replace the previous default subcharges.

 

14^th: CT61 Income Tax Due Date

Filing for CT61 Income Tax for the quarter to 31^st December due.

 

31^st: Self Assessment Tax Return Deadline

Deadline to file your Self Assessment Tax Return for the tax year ending 5^th April 2022.

 

31^st: Income Tax Payments Due

First Payment on Account for Income Tax is due for the financial year 2022/2023 and balancing payment for 2021/2022.

 

February

2^nd: P46 (Car) Submission Deadline

Final day to submit P46 (Car) for employees whose car/fuel benefits changed during the quarter to 5^th January 2023.

 

March

1^st: New Advisory Fuel Rates

New Advisory Fuel Rates (AFR) come into force from today.

 

15^th: HM Treasury Spring Budget 2023

 

April

1^st: Corporation Tax Rate Rise to 25%

From 1^st April 2023, the corporation tax rate rises to 25%, affecting companies with profits of £250,000 and over. A small profit rate of 19% will apply to companies with profits below £50,000, with a marginal rate for profits between £50,000 and £250,000.

 

1^st: R&D Changes

Research and Development (R&D) reforms will apply from 1^st April 2023.

 

1^st: Business Rates

The 50% relief for retail, hospitality and leisure businesses ends, and properties will be revalued to April 2021 values.

 

5^th: End of 2023 Tax Year

The last day of the tax year of 2023.

 

PAYE

For employees

This is the last date to claim a refund for tax overpaid in earlier years. 5^th April 2023 is an important tax rebate date – the deadline for claims relating to tax year 2018/2019.

 

SELF ASSESSMENT

This is the final date for claiming a rebate for any tax overpaid in earlier years. 5^th April 2023 is an important tax rebate date – the deadline for claims relating to the tax year 2018/2019.

 

6^th: Start of 2023 Tax Year

The first day of the new tax year, 2024. New tax rates come into effect.

 

6^th: Income Tax 45% Rate Change

From 6^th April 2023, the 45% additional rate of income tax threshold will be reduced from £150,000 to £125,140.

 

6^th: Making Tax Digital

MTD for income tax self-assessment (ITSA) will not take effect until 6^th April 2024 for self-assessment taxpayers (not partnerships), it will be mandatory for individuals who were self-employed or collecting property income before 6^th April 2023 with total gross income exceeding £10,000 in a tax year. The requirements are different for those who became a landlord or sole trader after 6^th April 2023.

 

6^th: Basis Period

New rules for basis period reforms are taking effect for the 2023/24 tax year (tax year beginning 6^th April 2023) affecting how unincorporated businesses’ and partnerships trading income is allocated to tax years.

 

6^th: Capital Gains Tax

The annual exempt amount will be cut from £12,300 to £6,000 from 6^th April 2023 and then to £3,000 from April 2024.

 

19^th: Final PAYE Return Deadline for Employers

Deadline to file final PAYE Return for Employers for periods 6^th April 2022 to 5^th April 2023.

 

May

3rd: P45 Deadline for Car/Fuel Benefit Changes

Final day to submit P46 (Car) for employees whose car/fuel benefits changed during the quarter to 5^th April 2023.

 

31^st: P60 Deadline for 22/23

Deadline for employees to receive P60 for the 2022/2023 tax year.

 

PAYE

For employers

This is the final date for giving employees a P60 form. This form shows employees how much taxable salary they were paid in the previous year and how much Income Tax was deducted for their wages.

 

June

1^st: Advisory Fuel Rates

Advisory fuel rates for company car users to be used from this date.

 

July

 

5^th: PAYE Settlement Agreement Deadline

Deadline to reach PAYE Settlement Agreement for the 2022/2023 tax year.

 

6^th: P11D Deadline for 22/23

Submissions for P11D due for the 2022/2023 tax year.

 

PAYE

For employers

This is the final date for submitting a P11d form to HMRC and giving employees a copy. This form provides information on any taxable benefits or expenses paid to employers or directors in the previous tax year.

 

6^th: Reporting of Share Incentives Deadline

Returns of information on employees Share Incentive should be filed on or before this date.

 

31^st: Second Payment On Account Deadline

Deadline for Second Payments On Account for the self-employed.

 

August

3rd: P46 Deadline for Car/Fuel Benefit Changes

Final Day to submit P46 (Car) for employees whose car/fuel benefits changed during the quarter to 5^th July 2023.

 

September

1^st: Advisory Fuel Rates

New Advisory Fuel Rates (AFR) for company car users come into force today.

 

October

5^th: Self Assessment Registration Deadline

Deadline to submit Self Assessment Registration to HMRC, including Income/Capital Gains.

 

31^st: Paper SA Tax Returns Deadline

All paper Self Assessment tax returns are due at the end of October.

 

November

2^nd: p46 (Car) Submission Deadline

Final day to submit P46 (Car) for employees whose car/fuel benefits changes during the quarter to 5^th October 2023.

 

December

1^st: Advisory Fuel Rates

New Advisory Fuel Rates (AFR) for company car users come into force today.

 

30^th: Overdue Tax Collection to be collected monthly

Deadline for anyone who is self-employed but also receives income under PAYE to elect to have overdue tax collected monthly under a PAYE tax code. To qualify, income must be less than £3,000 and the person must submit an online Self-Assessment tax return by that date.

 

 

As well as the above dates, there are many recurring Monthly and Quarterly Deadline/Due Dates to be aware of.

 

7^th

VAT registered only

VAT Return submission and payment deadline.

The deadline for VAT Returns and payments of Accounting is due on the 7^th after the end of each month.

 

14^th

Limited Companies Only

Corporation Tax Quarterly Instalment Due Date

Quarterly instalment payments of corporation tax must be paid on the 14^th after the end of the month.

 

19^th

Employers Only

Deadline for postal CIS, NICs and PAYE payment

Postal CIS, NICs and PAYE payment must reach HMRC by the 19^th of the month.

 

22^nd

Employers Only

Electronic remittance Deadline for CIS, NICs and PAYE

Electronic CIS, NICs and PAYE payment must be completed on the 22^nd if you pay monthly or quarterly.

 

 

Annual Due Dates for Limited Companies

 

12 months after year end:

Annual Filing Corporation Tax Due Date

Limited Companies Only

Corporation tax return filing is due 12 months after the end of a limited company’s financial year.

 

9 months after year end:

Company Accounts Filing Due Date Companies House

Limited Companies Only

9 months after your accounting period, annual accounts must be filed with Companies House.

 

9 months and 1 day after year end:

Corporation Tax Payment due date

9 months and 1 day after your accounting period, a Company’s Corporation Tax Liability is due for payment.

 

Other Important Dates

Report and pay Capital Gains Tax on residentials property

You have 60 days from completion on your residential land and/or property to declare and pay any Capital Gains Tax Liability.

 

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