A lot of businesses forget the below and fall foul of penalties!
31 January – deadline for filing self-assessment tax returns and paying personal tax liabilities
5 April – fiscal tax year end
31 May – deadline for providing P60’s to employees
6 July – deadline for filing P11D’s & P11D(b) and providing P11D’s to employees
22 July – deadline for paying Class 1A National Insurance
31 July – deadline for paying second payment on account for self-assessment tax
5 October – deadline for registering for self-assessment
31 October – deadline for filing paper copy self-assessment tax returns
30 December – deadline for filing self-assessment tax returns if you want the tax to be collected through your PAYE code
Penalties & Interest
Self-assessment Tax Returns
£100 automatic late filing penalty
Additional £10 per day up to £900 maximum for self-assessment tax returns filed up to 3 months late
Additional £300 or 5% of tax due for self-assessment tax returns filed up to 6 months late
Additional £300 or 5% of tax due for self-assessment tax returns filed more than 12 months late
Plus interest due on tax paid late until the liability is settled in full
All the above is supplied courtesy of Brenda Coombes
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