If you are a business owner, you might be unsure of where to start with choosing the correct financial dates to remember. So, to help you out, we have compiled a list of everything that you need to know to ensure that you don’t miss a thing!
From when the new tax year begins to when you need to meet any deadlines, we have all of the key dates down below and ready for you to use. Of course, if you have any questions, you can also contact us here.
31st January – Self-assessment tax deadline and Capital Gains Tax deadline
People who have to file self-assessment tax returns must do so by 31st January, this is also the deadline to pay any tax owed from that return.
This is the deadline for filing Capital Gains Tax payments on assets sold in 2021/2022. The Capital Gains Tax (CGT) allowance for the current tax year is £12,300.
15th March – The Spring Budget
The financial forecasts for the year ahead, as well as any proposed changes to the tax system are due to be delivered on the 15th of March.
4th April – PAYE registration deadline
PAYE requires that you register for payroll benefits and then meet monthly obligations to file remittances and pay HMRC. You also need to file benefits forms on your employees’ behalf every year.
5th April – End of the tax year
If you’re planning to utilise your entire annual ISA allowance, the full £20,000 will need to have been paid into your accounts by this date. Anyone wanting to pay extra into their pension should also try and do this before 5th April.
6th April – New tax year: pensions, benefits and tax changes
Increases to various state benefits and tax reliefs will kick in on the 6th of April. Chancellor Jeremy Hunt has reduced the threshold at which the top 45p rate of income tax becomes payable from £150,000 to £125,140. This will also take effect from 6th April.
5th October – Deadline to register for self-assessment
This applies if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership.
31st October: Postal self-assessment deadline
If you choose to file your self-assessment by post rather than online, you have an earlier deadline of 31st October.
November: Autumn Statement
Usually delivered in November, the Autumn Statement is another big statement from the chancellor.