The UK tax year runs from 6th April to 5th April every year. These curious dates are based on historical changes in the calendar and decisions made by the Treasury dating back several hundred years. They are now fixed in stone and other key dates in the UK tax year revolve around them.
There are a number of key dates for filing returns, paying taxes, making claims and issuing or submitting tax-related documents. The dates are different depending on whether tax is based on PAYE, Self-Assessment or CIS (Construction Industry Scheme). It’s essential to be aware of what the tax year dates are because missing any dates could result in fines and penalties from HMRC.
5th April – For employees, this is the last date to claim a refund for tax overpaid in earlier years. 5th April 2023 is an important tax rebate date – the deadline for claims relating to the tax year 2018/2019.
6th April – The first day of the new tax year for employees and employers.
31st May – 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 tax year and how much Income Tax was deducted from their wages.
6th July – 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 employees or directors in the previous tax year.
5th April – The final day of the tax year for employees and employers.
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Self-Assessment is the basis of taxation for anyone who is self-employed or receives income from pensions or property.
31st January – The final date for submitting a Self-Assessment tax return online for the previous tax year, which ended on 5th April. This is also the date for making a balancing payment on any outstanding tax due for the previous tax year. This is the balance over and above any tax already paid on account. Finally, 31st January is the date for making the first payment on account for the current tax year.
5th April – The final date for claiming a rebate for any tax overpaid in earlier years. 5th April 2023 is an important tax rebate date – the deadline for claims relating to the tax year 2018/2019.
5th April – In future, this will be the final day of the Self-Assessment accounting period, also known as the basis period. Currently, self-employed people set their own start and end dates for their accounts and submit Self-Assessment returns based on the figures from that base period. From 2024, the basis period will be aligned with the tax year.
6th April - In future, this will be the first day of the Self-Assessment accounting period, also known as the basis period.
31st July – The final date for making the second payment on account for the current tax year.
5th October – The deadline for anyone starting self-employment or receiving income from property after 6th April to register their business with HMRC for payment of tax under Self-Assessment.
31st October – The deadline for submitting a paper copy of the Self-Assessment tax return. Anyone missing that deadline can submit the return online instead by the deadline of 31st January.
30th December – The 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 £3000 and the person must submit an online Self-Assessment tax return by that date.
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The key dates for the Construction Industry Scheme (CIS) apply to contractors in the construction industry who employ sub-contractors. They must deduct tax from any payments made to sub-contractors and submit the payments to HMRC via a CIS Monthly Return.
Sub-contractors who are self-employed pay tax under Self-Assessment and follow the same key dates as other self-employed workers. However, as some of their tax due will be collected monthly by the contractor, they will only pay further tax if they have self-employed income from other sources.
19th day of each month – Contractors must file their CIS Monthly Return within 14 days of the end of the tax month, which ends on the 5th day of the month. The CIS submission deadline means they must submit monthly returns to HMRC for the previous month by the 19th day of the current month following the last tax month. For example, if a contractor is making a return for the period 6th May to 5th June, it must reach HMRC by 19th June.
Read More: What is a CIS monthly return?
These key dates are important. If you miss any dates, you may face penalties from HMRC, so it is essential to keep an eye on the calendar and collect any relevant information you need in advance.