Key Tax and Compliance Deadlines for UK Businesses
As the year draws to a close, UK businesses face several critical tax and compliance deadlines. Staying ahead of these dates can prevent penalties and ensure your business remains compliant. Here’s a detailed look at the upcoming key tax deadlines from October to November 2024.
30 October 2024
Non-Resident Landlord Scheme – Payment Due
Landlords who receive rental income while living abroad must pay tax under the non-resident landlord scheme. The payment for the quarter ending 30 September 2024 is due on this date. It’s essential to ensure timely payment to avoid interest charges or penalties.
31 October 2024
Plastic Packaging Tax – Return and Payment Due
Businesses dealing with plastic packaging need to submit their tax return and payment for the quarter ending 30 September 2024. The Plastic Packaging Tax is designed to encourage the use of recycled materials, so ensure your returns reflect compliance with the environmental regulations.
Corporation Tax Returns – Filing Deadline
The deadline for filing Corporation Tax returns for businesses with accounting periods ending 31 October 2023 is on this date. Missing this deadline could lead to late filing penalties and interest on unpaid tax.
Self-Assessment – Paper Returns Deadline
If you’re submitting a Self Assessment tax return for the 2023-24 tax year, this is your final deadline. For those who prefer to file online, remember the deadline is 31 January 2025, giving you more time to prepare.
Also Read: Self-Assessment Deadlines Made Easier: Making Tax Digital
01 November 2024
Corporation Tax Payment – Due
Corporation Tax payments for businesses with accounting periods ending 31 January 2024 are due. Ensure that your corporation tax liability is settled by this date to avoid any interest or penalties.
02 November 2024
P46 (Car) Submission – Quarter to 5 October 2024
If your business provides company cars to employees, make sure the P46 (Car) form is submitted by this date. Whether submitted electronically or on paper, it must cover the quarter to 5 October 2024.
05 November 2024
Employment Intermediaries – Quarterly Reporting Deadline
Employment intermediaries must submit their report for the quarter ending 5 October 2024. This report covers all workers provided to clients, ensuring transparency and compliance with tax obligations. Additionally, any corrections or removal of reports for the quarter ending 5 July 2024 must also be finalized by this date.
07 November 2024
VAT returns and payments – three months to 30 September 2024
Businesses with a VAT quarter ending on 30 September 2024 must file their VAT return and pay online by this date. Timely submission helps you stay compliant and avoid liability.
November 19, 2024
PAYE, NIC and CIS payments (by post) – end of month 5 November 2024
Employers should ensure that PAYE, National Insurance Contributions (NICs) and Construction Industry Contributions (CIS) for the month ending 5 November 2024 are posted and received by HMRC by that date if you submit them online. You will have a few more days to complete your payment.
Corporate tax return – deadline
Corporation Tax returns for accounting periods ending 30 November 2023 must be submitted by this date. Filing on time helps you avoid HMRC penalties and maintains your company’s compliance.
01 December
Company tax payment is due.
Payment of corporate tax for the reporting period ending February 28, 2024 is due today. Make sure to pay to avoid interest or late payment penalties.
Recommended fuel rates for drivers of the company’s cars. New guidelines for corporate drivers will be published on December 1, 2024. These rates help businesses Accurately calculate distance costs. and refund money to employees who use company cars Please stay tuned for new rates.
07 December
Tax returns and tax payments (online)
For businesses with a VAT quarter ending on 31 October 2024, the deadline for filing and repaying VAT online is 7 December 2024. Please ensure you file and pay VAT on time to avoid penalties or consequences profit.
19 December 2024
PAYE, NIC and CIS (postal)
Payments Employers should ensure that PAYE, NIC and CIS payments for the month ending 5 December 2024 are posted and received by HMRC by this date. If you want to send an electronic message Remember, you have a few more days to comply.
CIS Return – Payments to Subcontractors
CIS reports on payments to employees through December 5, 2024 must also be submitted by December 19. This helps ensure that all construction-related costs are reported correctly.
22 December
PAYE, NIC and CIS payments (electronic)
Employers sending PAYE, NIC and CIS payments electronically for the month ending 5 December 2024 will need to ensure payments are made by the 22 December deadline to remain compliant.
30 December 2024
Self-Assessment – Pay taxes via PAYE Coding
If you wish to pay your 2023-24 Self Assessment Tax with your PAYE code information, you will need to submit your tax return online by 30 December 2024. This will allow HMRC to adjust your tax code for the following year. Make your payments more efficient and Avoid large bills by the next filing deadline.
Corporation Tax Return Deadline: What You Need to Know by 31 December 2024
As we approach the end of the year, businesses need to pay attention to the all-important tax deadline. One of the most important dates on the calendar is December 31, 2024, which is the deadline for filing corporate tax returns for the reporting period ending December 31, 2023. If you missed this deadline, This may result in penalties. Interest, unpaid taxes, and other product problems that arise.
How to keep track of these deadlines?
To avoid extreme stress Here are some ways to help you meet your upcoming tax obligations:
- Work with an accountant: A professional accountant can help you manage your tax deadlines smoothly and prevent non-compliance issues.
- Consider important dates: Make sure you have a system in place to remind you of these important deadlines. So that you can avoid guilt.
How to meet these deadlines?
With so many important dates approaching, it can be difficult for businesses to manage their tax obligations effectively. Here are a few tips to help you prepare.
- Set up automatic reminders: Schedule reminders for upcoming tax deadlines. in order not to make any errors
- Consult with your accountant: Your accountant can help you manage your schedule. Especially for company tax returns self assessment and VAT.
- Use digital tools: Many accounting firms offer tools to track payment deadlines and returns.
Leave A Comment