UK Tax Year Dates and Filing Deadlines 2024

Last Updated: Jul 05, 2024
|
post featured image

Key Takeaways

  • In the UK, the calendar year, which runs from January 1st to December 31st, is not the same as the financial year, also known as the tax or fiscal year.
  • The tax calendar starts on April 6th and ends on April 5th of the following year.
  • Tax calculations, assessments, and financial reporting are based on the tax cycle rather than the calendar year.

When does the UK tax year start?

The UK fiscal year begins on 6 April each year, marking the start of the financial period for which individuals and businesses must report their income, expenses, and any applicable deductions to HM Revenue and Customs (HMRC).

When does the UK tax year end?

The UK accounting year concludes on the 5th of April the following year. By this date, taxpayers must have completed their financial documentation in readiness to submit their tax returns to HMRC.

What are the key dates and filing deadlines for limited companies in the UK?

Limited companies in the UK do not have exact filing dates because these dates depend on the individual company’s dynamics, such as the incorporation date and the company’s chosen accounting period.

Corporation Tax Deadlines

Register for corporation tax

3 Months after incorporation.

Corporation tax return (CT600)

12 months after the end of your accounting period.

Paying your corporation tax bill

9 months and one day after the end of the accounting period.

Additional Company Filings Deadlines

Confirmation Statements

A confirmation statement must be filed at least once every 12 months, and the filing due date is 14 days after the end of a confirmation period or at the business’s first anniversary.

Annual Accounts

Private limited companies must file annual accounts 9 months after the end of their financial year.

Dormant Accounts

Companies not actively trading must file dormant accounts 9 months after their tax accounting year ends.

Don’t do business alone. Join a Community.

Subscribe to our newsletter and join the ranks of 100,000+ entrepreneurs who receive weekly insights, legal updates, and compliance reminders directly in their inbox.




What are the UK’s main tax year dates and filing deadlines for an llp?

Like limited liability companies, Limited Liability Partnerships (LLPs) in the UK do not have exact filing dates but rather follow general guidelines for key dates and filing deadlines, as shown below.

LLP filing timelines

Confirmation Statements

A confirmation statement must be filed at least once every 12 months, and the filing final date is 14 days after the end of a confirmation period or at the business’s first anniversary.

Annual Accounts

LLPs must file the first annual accounts 21 months after incorporation and subsequent accounts 9 months after the end of their tax cycle.

Partnership tax return

12 months after the end of its accounting period.

Dormant Accounts

LLPs not actively trading must file dormant accounts 9 months after the end of their fiscal year.

Insight

Although an LLP is a pass-through entity, it is still required to file a partnership tax return. This means that while the LLP itself does not pay income tax, it must report its income, deductions, and other tax-related information to the tax authorities. The profits and losses of the LLP are passed through to the individual partners, who then report their share on their individual tax returns.

What are the UK tax year dates and filing deadlines for self employed individuals?

The current tax year started on the 6th of April 2024 – the 5th of April 2025. Below is a list of key dates

Date Event
Important tax dates in the UK

The tax year starts on 6 April.

The tax year ends on 5 April (the following year)

Self Assessment key dates and deadlines

30 April

The date penalties apply for unfiled individual returns for the 2023/24 tax year.

31 July

Last date for making the second payment on account towards the current tax year liability.

Final date for tax credit renewal

5 October

Deadline to register for self-assessment. Use the form CWF1 for self-employment or the SA1 form for non-self-employed income.

31 October (midnight)

Deadline for paper filing for individual tax returns for the previous tax year.

30 December

Final date for online submission of personal tax returns for the previous tax year.

31 January

Deadline for online tax returns for the previous tax year.

Final date for paying the first payment on account instalment towards settling the current year’s tax bill.

What are the UK’s VAT tax return deadlines for LLPs and LTDs?

In the UK, eligible small businesses must file VAT returns four times annually. These due dates are regulated by the Making Tax Digital (MTD) for VAT initiative, which mandates using MTD-compliant software for all VAT-registered businesses. The standard quarterly VAT return periods and deadlines are as follows:

  • January 1 – March 31: April 7

  • April 1 – June 30: July 7

  • July 1 – September 30: October 7

  • October 1 – December 31: January 7

VAT registration made easy. Start your compliance journey for £60 + VAT.

Get your business VAT-compliant quickly and affordably with our seamless registration service. Don’t miss out!

Each VAT return must be submitted within one month and seven days after the end of the relevant quarter. For example, the VAT return from 1 January to 31 March 2024 must be filed with HMRC by 7 May 2024.

VAT deadlines

VAT Registration

30 days after you determine that your annual total VAT taxable turnover exceeds the £90,000 threshold.

Submitting VAT returns

One calendar month and 7 days after the end of an accounting period.

Paying VAT owed

1 calendar month and seven days after the end of the accounting period.

Annual Account Scheme

2 months after the end of the 12-month accounting period.

Businesses on payments on account

Pay monthly, with the payment due by the last working day of each month

What is the significance of income tax weeks in the UK?

Tax weeks ensure consistency and accuracy in the administration of taxes and contributions throughout the tax year in the UK.

A tax week is a successive seven-day period starting 6th April, the beginning of the tax cycle, meaning one tax year is divided into 52-53 tax weeks. Within the UK tax system, income tax weeks are helpful in —

  • Determining tax thresholds and allowances — Tax thresholds, such as the personal allowance and tax bands, are set per tax week.

  • Aligning pay periods with employees paid weekly — Tax weeks align with weekly pay periods for many employees.

  • Reporting PAYE Information — Employers use tax weeks to report employee pay and deductions to HMRC under the Real Time Information (RTI) system.

  • Calculating National Insurance Contributions (NICs) — NIC thresholds are determined per-tax-weekly, ensuring accurate deductions.

What is the significance of a tax month in the UK tax system?

A tax month runs from the 6th of one month to the 5th of the next month and is used to structure final dates and obligations as follows —

  • PAYE (Pay As You Earn) Tax and NICs — Employers use tax month to align employee earnings with income tax deductions and NICs from employees’ wages.

  • Submission of Payroll Information to HMRC — Employers must submit payroll information, including earnings, deductions, and NICs, using the Real Time Information (RTI) system each tax month.

  • Deadlines for Making Tax Payments — The tax month determines the last date for employers to make PAYE and National Insurance payments to HMRC.

The tax month framework helps maintain consistency and accuracy in reporting by streamlining tax collection and compliance processes.

What is the deadline for registering for self assessment?

Sign up by 5 October after the end of the tax year in which you became self-employed or earned untaxed income. For instance, if you began self-employment or received additional income during the 2023/24 tax year (from 6 April 2023 to 5 April 2024), you must register with HMRC by 5 October 2024.

Insight

If you earn dividends, own rental property, or have income that HMRC does not collect tax through your tax code, you must treat it as self-employed income and file a self-assessment tax return accordingly.

When is the deadline for submitting an online self assessment tax return to HMRC?

The end date to submit your online tax return to HMRC for the previous tax year, which runs from 6 April to 5 April, is 31 January. The tax agency also expects individuals to settle their income tax bill and state insurance contributions by this date. Meeting this deadline is crucial to avoid penalties and ensure compliance with HMRC’s tax regulations.

What are the key tax dates and deadlines for filing a self-employed paper return?

For self-employed individuals who prefer filing paper self-assessment tax returns, understanding the key dates and deadlines is crucial for timely compliance with HMRC regulations.

Self assessment tax dates to remember
Date Event

5 October

Deadline to notify HMRC if you need to file your tax return online.

31 October

Final date for submitting a paper self-assessment tax return

31 January

Last date for paying any outstanding tax owed for the previous tax year.

31 July

Due date for making the second payment on account towards the current tax year’s liability

What are the important PAYE tax dates in the UK?

Any institution with employees must adhere to PAYE tax dates to ensure compliance with HMRC regulations and timely filing of tax returns.

Date Event
Monthly and Quarterly Dates

9th of Each Month (Postal Payments)

For cheques sent by post, the payment must reach HMRC by the 19th of each month following the end of the tax month.

22nd of Each Month (Electronic Payments)

Electronic payments, including Direct Debit, Faster Payments, Bacs, CHAPS, and debit/credit cards, must reach HMRC by the 22nd of each month following the end of the tax month.

Quarterly Payments

Deadlines for these payments are the 22nd after the end of the quarter (Which will be the 22nd of July, October, January, and April) (19th if paying by post).

Annual Reporting Dates and Deadlines

31 May (following the end of the tax year)

Issue P60s to all employees, which outlines the total pay and deductions for the tax year.

6 July

Submit P11D and P11D(b) forms, which report expenses & benefits provided to employees and Class 1A NICs due, respectively.

19 July (postal payement)

Last date for postal payments of Class 1A NICs reported on the P11D(b) form for the previous tax year.

22 July (electronic payments)

Due date for electronic payments of Class 1A NICs reported on the P11D(b) form for the previous tax year.

End of tax year filings

5 April

End date for claiming your PAYE tax refund for the 2019/20 tax year.

19 April

Real Time Information (RTI) submissions, specifically, the Final Full Payment, must be made on or before your employees’ last payday of the tax year but by 19th April.

How do you file a tax return in the UK?

Tax returns can be filed either online or by post. Online filing is generally faster and more secure, with built-in checks to reduce errors. To file online, log in to your HMRC account and follow the prompts to complete your Self-Assessment tax return.

Insight

If you make an error in your paper or online tax return, you can amend it. HMRC allows amendments to be made up to 12 months after January 31 (the deadline) following the end of the tax year. For example, for the tax year ending on April 5, 2024, the deadline for filing your return is January 31, 2025. You can amend any mistakes in your return until January 31, 2026. This flexibility enables taxpayers to correct inadvertent errors or update information initially reported incorrectly.

Complete the paper form SA100 downloaded from GOV.UK and send it to HMRC for postal returns. To avoid delays, ensure it is posted well before the deadline.

If you’re self-employed as a sole trader and your business earned more than £1,000 in profits in the previous tax year, you must register for self-assessment and file a tax return.

Individuals who are not self-employed but have untaxed income from rental properties, savings and investments, or foreign income, as well as those who need to claim tax reliefs or have income over a certain amount, must also file a tax return.

See also: How to Register for Self Assessment Tax Return Using HMRC SA1 Form

Warning

According to HMRC, 97% of people complete their personal tax returns online. If you need to file a paper version of the SA100 tax return, you are required to call HMRC and request it. To do this, call 0300 200 3610 if you are in the UK or +44 161 930 8331 if you are outside the UK. Be prepared to provide your reasons for not filing online, as HMRC will ask for this information to offer the relevant support.

What documents do I need to file a tax return online?

Filing a tax return online requires gathering various documents to ensure accurate reporting of your income and expenses. The specific documents needed will depend on whether you are self-employed or not self-employed but have untaxed income. Unless they ask, you do not need to submit these documents to HMRC, but having them at hand will help you complete your return accurately.

Document type or Info required Self employed Not self – employed

Personal details

  • Unique taxpayer reference (UTR) number

  • NI number

  • HMRC login credentials

PAYE records

N/A

  • P60 – provides total pay and deductions for the previous year.

  • P11D – outlines taxable benefits and expenses.

  • P45 – leaving employment certificate outlines pay, tax, and NICs up to their last day of work.

Business records

  • Receipts for business-related purchases and expenses

  • Mileage logs for business travel

  • Utility bills for home office expenses (if applicable)

  • Records of other allowable expenses

  • Financial Statements

  • Profit and loss statement

  • Balance sheet (if applicable)

N/A

Income outside primary sole trader business or salary (Additional income)

  • Details of any rental income

  • Records of foreign income (if applicable)

N/A

  • Information on savings and investments

  • Dividend statements from investments

  • Records of other investment income

  • Pension statements

  • Records of any other taxable income (e.g., royalties, freelance work)

Taxable relief and deductions documentation

  • Receipts for charitable donations

  • Records of pension contributions

  • Documentation for other tax reliefs

What should I do before the end of the tax year 2024/25?

Before the end of the tax cycle, you must make sure you leverage reliefs and other statutory benefits available as follows —

  1. Assess your tax planning opportunities that are likely to reduce your tax bill —

    • Make pension contributions — Make sure to put money into a pension scheme to get tax benefits. You can contribute up to 100% of your earnings, up to a limit of £40,000, and receive an automatic 20% boost from the government in tax relief. If you pay a higher tax rate, you can claim even more tax relief, potentially saving up to 45% on your income tax. Additionally, making pension contributions can help reduce child benefit tax charges if your income exceeds £50,000.

    • Utilise Individual Savings Account (ISA) allowance — An ISA is a tax-efficient savings and investment account with an annual allowance of £20,000. You can invest in cash ISAs, stocks and shares ISAs, or a combination of both, allowing your savings to grow tax-free.

    • Put away some money as savings for your children — Invest up to £3,600 annually into a child’s pension, which benefits from 20% tax relief. Additionally, contribute up to £9,000 per year into a Junior ISA, allowing for tax-free savings to support your child’s future financial needs.

    • Leverage the capital gains tax (CGT) allowance – Take advantage of the annual exempt amount of £12,300 for the 2022/23 tax year to avoid CGT on asset sales. With future reductions in the exempt amount anticipated, maximising your tax benefits is wise now. Strategically move your investments into tax-efficient accounts like ISAs to shelter future gains from CGT.

  2. Organise your tax records — Prepare your income statements, expenditure receipts, and other financial records. Having this paperwork on your desk or in an accounting system will make your filing process much easier and reduce the chances of errors.

  3. Plan to clear your tax bill — Estimate your tax liability and plan to pay it. It is advisable to set aside some money throughout the year to cover your tax bill to avoid last-minute scrambles and financial strain when your payments are due.

  4. File your returns on time — Preparing early helps you meet deadlines and avoid penalties, interest charges, underpaying or overpaying tax. For the 2023/24 tax year, submit paper or online tax returns by 31 October 2024 or 31 January 2025, respectively. Filing on time requires early preparation and the timely organisation of all necessary documents. Procrastination can lead to rushed filings, which increase the likelihood of mistakes. By staying ahead of the last date and keeping your records in order, you can ensure a stress-free filing process and avoid unnecessary fines.

How to determine how much tax you owe

Your income tax bracket determines your tax liability.

HMRC will calculate your tax bill based on the information provided in your tax return. However, you can estimate your tax liability beforehand by calculating the profits from your business activities and any other untaxed income. HMRC provides a personal allowance of £242 per week, £1,048 per month, or £12,570 per year, which exempts this portion of your income from tax. This allowance reduces by £1 for every £2 of income over the £100,000 threshold.

For example

If you earn £100,000 or below, you can claim the full Personal Allowance of £12,570. But this allowance starts to shrink if you make more than £100,000. For instance, if you earn £110,000, which is £10,000 over the limit, your Allowance would be reduced by £5,000 (half of £10,000). Once your income hits £125,140, you lose the Personal Allowance entirely because the difference between £125,140 and £100,000, divided by two, equals £12,570.

Can I file my tax return if I live abroad (expat tax)?

You can file your tax return if you live abroad and earn self-employment income from UK-based activities or rental income from property in the UK. Additionally, you must file if you receive a UK pension other than the state pension or untaxed UK income, such as savings interest.

Non-UK residents meeting these criteria must file a Self-Assessment tax return and submit a completed SA109 form titled ‘Residence, remittance basis, etc.’ to report their UK income and claim any applicable tax reliefs or allowances. Like residents, the deadline for filing a paper tax return is October 5th, following the end of the tax year, while online filing must be completed by January 31st.

Article by

Your Company Formations

Committed to simplifying the complexities of starting and managing businesses, we share valuable insights and expertise to guide you through every step of the corporate journey. Our company formation services, seamlessly integrated with a company management platform, are designed to empower you to launch with confidence and manage your business all while ensuring strict adherence to HMRC and Companies House requirements. Trust us to be your partner in success.

Submit a Comment

Your email address will not be published. Required fields are marked *