Whether you are employed and paying tax via the PAYE system, a small business using PAYE for your employees, or self-employed, you will be aware that HMRC’s tax year runs from 6th April to 5th April the year after. However, there are other key dates and deadlines throughout the year which are important to note, to avoid incurring penalties for late filing of a tax return or payment of tax due, particularly if the deadline happens to fall on a Bank Holiday or weekend. All deadlines run up to 11:59 pm on that day.
Key Tax Dates for Self-Employed People
2023
Tuesday, 5th October 2023:
If you became self-employed during the tax year to 5th April 2023, and have not had to submit a Self Assessment tax return in the past, you need to register with HMRC by this date in order to receive your UTR (Unique Taxpayer Reference) and an activation code. You need both pieces of information to file your first Self Assessment return. This is also the deadline to register if you began to receive rental income during that tax year.
Tuesday, 31st October 2023:
For those who have chosen or been instructed by HMRC to complete a paper version of their Self Assessment tax return, it must be received by HMRC by this date. As the deadline falls on a Tuesday, it aligns with the standard submission date without adjustment.
Saturday, 30th December 2023:
Self-employed individuals with earnings from paid employment can ask HMRC to collect tax due of less than £3,000 via their employer’s PAYE system from April 2023, by submitting their online tax return by this date.
2024
Wednesday, 31st January 2024:
This is the deadline for HMRC to receive all or any balancing payment from your tax liability for the tax year 2022/2023. Online self-assessment tax returns must be filed by this date. This deadline also applies to the first Payment on Account for the next tax year.
Monday, 5th April 2024:
Under Self Assessment, this is the last day to claim a refund for overpaid tax for the tax year 2018/2019.
Tuesday, 6th April 2024:
Start of the 2024/2025 tax year.
Wednesday, 31st July 2024:
The deadline for your second Payment on Account for the 2024/2025 tax year.
For Businesses Operating PAYE
PAYE and National Insurance Class 1 contributions must reach HMRC by the 22nd of the month for monthly payments. For payments by cheque, HMRC must receive the cheque by the 19th. Key dates include:
2023
- Friday, 22nd October
- Monday, 22nd November
- Wednesday, 22nd December
2024
- Thursday, 22nd January
- Friday, 22nd February
- Friday, 22nd March
Tuesday, 5th April 2024:
End of the 2023/2024 tax year and the deadline to claim any tax refund due from PAYE for the tax year 2018/2019.
P60 and P11D Deadlines
Friday, 31st May 2024:
Employers must provide employees with P60 documents for the 2023/2024 tax year by this date.
Friday, 5th July 2024:
Deadline for filing Form P11D detailing employees’ taxable benefits and expenses not paid through the payroll.
VAT and Corporation Tax Deadlines
VAT returns and payments depend on your chosen financial year. The Making Tax Digital regulations require online filing. Deadlines are typically one month and seven days after the accounting period ends.
For Corporation Tax, the payment deadline for businesses with taxable profits of £1.5 million or less is nine months and one day after the accounting period ends. For larger businesses, payments are spread across four instalments.
This update ensures all dates and requirements are accurate as of 12 March 2024, providing clarity for those navigating UK tax obligations in the current tax year.
