Key dates and deadlines for small businesses
Running your own small business is hard work – you will find yourself trying to develop and grow your business, alongside managing the day-to-day operations acting as the finance, marketing, HR and sales departments – often all in the space of a few hours!
To help you manage and keep on top of your tax payments and deadlines, we have listed below the key dates to keep hold of and display in your office or save into your calendar – or both.
These dates are based on what is applicable to an “average” UK-based small business and depending on your circumstances there may be other tax deadlines which are applicable to you.
The handy download document is available to download here
January
| Date | Deadline/important dates |
| 1st | Corporation Tax payment deadline (if you have a Limited Company and the year-end is 31st March) |
| 31st | Self-Assessment tax return deadline. |
| 31st | First payment on account deadline, balancing payment deadline for Self-Assessment. |
March
| Date | Deadline/important dates |
| 31st | Corporation Tax filing deadline (if you have a Limited Company and the year-end is 31st March) |
April
| Date | Deadline/important dates |
| 6th | The new tax year starts! Any changes to tax rates, wages and pension contributions will come into effect today. There may also be other changes that come into force, which we try to keep our clients updated on via our newsletter. |
| 19th | Year-end payroll deadline – if you have employees, these all need to be filed and the PAYE paid. |
May
| Date | Deadline/important dates |
| 31st | Deadline for issuing any employees with their annual P60s. |
July
| Date | Deadline/important dates |
| 6th | Deadline for filing P11D(b) and issuing P11Ds to any employees – electronically |
| 22nd | Deadline for paying Class 1A NIC (This is only paid on benefits you give to any employees, such as private medical insurance) |
| 31st | Second Income Tax and NI payment on account deadline for Self-Assessment |
December
| Date | Deadline/important dates |
| 31st | Deadline for filing your company’s annual accounts if your company’s year-end is 31 March (the most common year end date). The payment deadline is on 1 January. |
VAT return deadlines
The majority of small businesses will file a VAT return four times a year, the most common set of quarterly VAT return dates are:
- 1st January – 31st March
- 1st April – 30th June
- 1st July – 30th September
- 1st October – 31st December.
Although this may differ for your business. If you are not sure then ask your accountant.
Each VAT return is due for filing one month and seven days after the end of one of these quarterly periods. Eg the VAT return that covers 1st January – 31st March needs to be filed to HMRC by 7th May.
Self Assessment payments on account deadline
If less than 80% of your income is paid at source and your tax bill is over £1,000, you’ll need to make payments on account.
These are advance payments on your next year’s Self Assessment tax bill.
Your payments on account are calculated by dividing the amount of your most recent Self Assessment tax return bill by two. You need to make the first payment by 31st January and the second payment by 31st July each year.
Hopefully this guide is useful, as stated at the start this is based on an “average” UK-based small business so some elements may differ slightly for you. As always if you do have any queries please get in touch.
