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The New Year is fast approaching meaning that you are probably getting your calendars sorted with the key dates and information to have a smooth transition into 2022. If you are a small business owner, you might be unsure of where to start with choosing the correct ones to remember therefore, we have compiled a list of everything that you need to know to ensure that you do not 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.

April – July

5th April 2022 – The tax year for 2021/2022 ends.  

6th April 2023 – The tax year for 2022/2023 begins.

19th April – This is the due date of PAYE quarterly payments for small businesses between the period of the 6th of January 2022 and the 5th of April 2022. This deadline is relevant to small businesses and contractors only. You are required to make payment quarterly if the combination of income tax, National Insurance and student loan deductions are less than £1,500 per month.

31st May – This is the deadline for forms P60 to be issued to employees. All employers are legally obligated to handle this, and it usually can be handled through your payroll software or accountant.

5th July – This is the deadline for reaching PAYE Settlement Agreement. This allows you to make a singular annual payment to cover all the tax and National Insurance due on minor or irregular expenses or benefits for your employees.

6th July- This is the deadline for forms P11D and P11D(b) to be submitted to HMRC.

6th July- This is the deadline for employers to report share incentives

19th July - PAYE quarterly payments are due for small employers for periods 6th April 2022 to the 5th of July 2022. Similar to the above, this is only relevant for the same small businesses and contractors only.

31st July – This is the second payment on account for self-assessments. The first would have been in January and this is the second required instalment.

October – January 2023

5th October – This is the deadline to register for your self-assessment if you are self-employed, a sole trader or a business owner.

19th October – This is when PAYE quarterly payments are due for small employers between the 6th of July 2022 and the 5th of October 2022.

31st October – This is the deadline for postal submission of self-assessment tax returns.

31st Jan – This is the deadline for filing your Personal Tax Return. However, we would always recommend getting ahead to stop you having to worry over the festive period.

By putting all of these in your diary, you will be able to work to these deadlines instead of panicking that you might have missed something. Being organised allows you to stay on track and keep your business afloat. For more advice, you can head over to Facebook and join our Profitable Business Growth group here.

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