Self assessment or Partnerships returns – 2020/21 return          31^st JANUARY DEADLINE

Tax year runs from 6^th April 2020 to 5^th April 2021 and must be filed electronically to HMRC before 31^st January 2022 (tax is also due at this date).

The tax year always ends at 5^th April and the filing date is always the following January.

Second  payment on Account deadline (mid year if tax bill exceeds £1,000) – 31^st July

Corporation Tax Returns – CT600                      9 MONTHS 1 DAY AFTER YEAR END

Limited companies must file to HMRC and Companies House.

A Company’s year end can be found on Companies House website or this is something you can talk to us about.

Accounts must be filed to Companies house 9 months and 1 day after their year end and a CT600 must be filed to HMRC at this date also.

For example a Limited company with a year end of 30^th April 2021 must file their returns by 31^st January 2022

Limited companies can have a year end at any month of the year, the year end is often connected to the incorporation date on the company.

Annual returns – must filed annually on the incorporation date of the company (people often forget this simple returns they are just to let HMRC and Companies House that your company is still trading and update any significant changes)

PAYE & Payroll Runs                  22^nd OF FOLLOWING MONTH   

Payroll can be run weekly, fortnightly, monthly or whatever suits your companies needs.

HMRC require all payroll to be submitted on RTI (real time information) on a monthly electronic submission after the submission date the employer has until the 22^nd of the following month to make payment of tax and national insurance of their employees over to HMRC

EG – monthly run for 31^st March must be paid by 22^nd April 2021

31^st May – deadline for issuing any employees with P60’s

6^th July – Deadline for filing P11D

CIS Returns – Construction industry scheme: monthly return due for the period up to the 5^th of the previous month

National Minimum Wage April 2020:

April 2021 £8.72 set to increase to £8.91

VAT Returns – last for three months payment taken by the 7^th of the following month

EG – VAT period 1^st January to  31^st March 2021 must be submitted to HMRC by 7^th April 2020 and if payment on direct debit it will be taken automatically by HMRC on or around the 10^th April 2021

Self Assessment tax rates – personal allowance already set to increase from April 2021 to £12,570