Important Dates For 2020/21 Tax Year

tax-dates

The new tax year is only a matter of weeks away & whether you are a business owner, self-employed individual or employer it is vital that you are aware of the dates your tax obligations,

As such here is our guide to the key tax dates for the 2020/21 tax year.

April 2020

1 April – 2020 financial year begins
Due date for payment of Corporation Tax for period ended 30 June 2019
5 April – 2019/20 tax year ends
6 April – 2020/21 tax year begins
IR35 in the private sector comes into force
7 April – Deadline for VAT returns and payments of Accounting Quarter period ending 29 February 2020
19 April – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 April – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

May 2020

1 May – Due date for payment of Corporation Tax for period ended 31 July 2019
7 May – Deadline for VAT returns and payments of Accounting Quarter period ending 31 March 2020
19 May – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 May – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
31 May – Give a P60 to all employees on your payroll

June 2020

1 June 2020 – Due date for payment of Corporation Tax for period ended 31 August 2019
7 June 2020 – Deadline for VAT returns and payment Accounting Quarter period ending 30 April 2020 if filed online
19 June 2020 – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 June 2020 – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

July 2020

1 July – Due date for payment of Corporation Tax for period ended 30 September 2019
5 July – Deadline for PAYE Settlement Agreement (PSA)
6 July – Submit P11D forms online to HMRC, give employees a copy of the information and inform HMRC the total amount of Class 1A National Insurance owed on form P11D(b)
7 July – Deadline for VAT returns and payments of Accounting Quarter period ending 31 May 2020
19 July – Monthly deadline for postal payments of CIS, Class 1 A NICs and PAYE to HMRC
22 July – Monthly deadline for electronic remittance of CIS, Class 1 A NICs and PAYE to HMRC
31 July – Second Payment on Account (POA) for Income Tax for 2019-20
PAYE settlement agreement submission date

August 2020

1 August – Due date for payment of Corporation Tax for period ended 31 October 2019
2 August – Deadline for submitting P46 (Car) for quarter ending 5 July 2020
7 August – Deadline for VAT returns and payments of Accounting Quarter period ending 30 June 2020
19 August – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 August – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

September 2020

1 September – Due date for payment of Corporation Tax for period ended 30 November 2019
7 September – Deadline for VAT returns and payments of Accounting Quarter period ending 31 July 2020
19 September – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 September – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

October 2020

1 October – Due date for payment of Corporation Tax for period ended 31 December 2019
5 October – Deadline for Self Assessment registration to notify chargeability of Income Tax/Capital Gains Tax for 2019/20
7 October – Deadline for VAT returns and payments of Accounting Quarter period ending 31 August 2020
19 October – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 October – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
31 October – Deadline for postal submission of Self Assessment tax returns for tax year ended 5 April 2020 to be received by HMRC

November 2020

1 November – Due date for payment of Corporation Tax for period ended 31 January 2020
2 November – Deadline for submitting P46 (Car) for quarter ending 5 October 2020
7 November – Deadline for VAT returns and payments of Accounting Quarter period ending 30 September 2020
19 November – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 November – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

December 2020

1 December – Due date for payment of Corporation Tax for period ended 28 February 2020
7 December – Deadline for VAT returns and payments of Accounting Quarter period ending 31 October 2020
19 December – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 December – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
30 December – Deadline for online submission of self-assessment tax returns for year ending 5 April 2019 for HMRC to collect employment or pension income tax through PAYE tax codes if less than £3,000 is owed.
31 December – Due date to file Corporation Tax for companies with 31 December 2019 year end
Due date to file company accounts with Companies House for limited companies with 31 March 2019 year end

January 2021

1 January – Due date for payment of Corporation Tax for period ended 31 March 2020
7 January – Deadline for VAT returns and payments of Accounting Quarter period ending 30 November 2020
19 January – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 January – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
31 January – Deadline for filing Self Assessment Tax Returns for tax year ended 5 April 2020 and 2019/20 Capital Gains Tax
Balancing payment of tax due for 2019-20 and first Payment on Account for Income Tax for 2020/21

February 2021

1 February – Due date for payment of Corporation Tax for period ended 30 April 2020
7 February – Deadline for VAT returns and payments of Accounting Quarter period ending 31 December 2020
19 February – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 February – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC

March 2021

1 March – Due date for payment of Corporation Tax for period ended 31 May 2020
7 March – Deadline for VAT returns and payments of Accounting Quarter period ending January 2021
19 March – Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
22 March – Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
31 March – Corporation tax returns filed by companies with 31 March 2020 year end

April 2021

1 April – 2021 financial year begins
5 April – 2020/21 tax year ends
6 April – 2021/22 tax year begins

If you are running a LTD company it is also advisable that you are aware when the companies tax year ends & thus when the accounts & tax returns need to be received by HMRC & Companies House respectively.

If you require any assistance with your tax duties & obligations for the new tax year please get in contact with ourselves for a free, no obligation consultation.