Guide to key deadlines for Self Assessment, Annual Accounts, Corporation Tax and VAT

• 5TH OCTOBER
  
  If you need to register for Self Assessment for the tax year ended 5th of April (for example you have become self employed, have other taxable income, or need to claim tax reliefs) then it needs to be done within 6 months. This is also the date you must register a partner or partnership.
  
  Your accountant can do this for you if they are given the relevent details in time


• 31ST OCTOBER
  
  If you prefer to file a paper tax return then you will need to observe this deadline


• 30TH DECEMBER
  
  If you/we file your tax return online and you are employed then this is the deadline for requesting HMRC to collect any oustanding tax owed monthly via your PAYE tax code (ie monthly from your salaried income)


• 31ST JANUARY
  
  We/you must submit your online Self Assessment tax return for the year to the previous 5th April by midnight.
  
  You will also need to make two payments on this date (they can be a single transaction):
  
  01. The balance remaining of any tax due for the last tax year i.e. the tax due per this return.
  
  02. The first payment on account for the next tax year. This is normally based on 50% of last year’s tax liability but in some cases we may advise that it could be appropriate to reduce it


• 31ST JULY
  
  The second payment on account for the open tax year (ie year to the next 5th April) is now due


• 31ST JANUARY (1 year anniversary of previous returns deadline)
  
  If you need to amend your previously submitted tax return because there was an error on it or any of the numbers were provisional, you will need to resubmit it by this deadline, i.e. you have 12 months from the original submission deadline

• 21 MONTHS after the date you registered with Companies House
  
  File the first set of statutory accounts with Companies House.
  
  For assistance with your annual accounts or to have us prepare and submit them on your behalf please get in touch


• 9 MONTHS after your company’s financial year ends
  
  File annual accounts with Companies House


• 9 MONTHS AND 1 DAY after your ‘accounting period’ for Corporation Tax ends
  
  Pay your Corporation Tax or tell HMRC that your limited company does not owe any.
  
  For assistance with your Corporation Tax returns and Corporation Tax planning, or to have us prepare and submit your Corporation Tax return on your behalf please get in touch


• 12 MONTHS after your ‘accounting period’ for Corporation Tax ends
  
  File a Company Tax Return. The vast majority of small companies, particularly those using an accountant, will submit their tax return at the same time as submitting the company accounts

• If you expect your VAT taxable turnover to be more than £85,000 in the NEXT 30-DAY PERIOD, or your VAT taxable turnover was more than £85,000 over the LAST 12 MONTHS
  
  Generally if either of these two thresholds points are met then you will need to register your business for VAT. If you register later than this you may still be liable to pay VAT for the period you should have been registered for.
  
  For assistance with your VAT returns and VAT planning, or to have us prepare and submit your VAT returns on your behalf please get in touch


• 1 CALENDER MONTH AND 7 DAYS after the end of a VAT accounting period
  
  Most small businesses will have quarterly VAT accounting periods. For example, if a period runs from 1st January to 31st March, then the return and payment will need to be made by 7th May.