Tax deadlines and important key dates for UK businesses

As we enter the 2024/25 tax year, all businesses will face opportunities and challenges with managing finances. The current UK economy is adding pressure on cash flow and financial management, making it important to keep up to date with those all the important tax payments and deadlines.

Seizing control of your company's accounts will make it easier for tax deductions and relief to mitigate your tax liabilities.

Navigating the HMRC filing deadlines and payment schedules takes practice. To assist you, we've curated a comprehensive calendar of key tax year dates for 2024/25. This can be imported into your outlook calendar, downloaded as a pdf or refer to this article throughout the year. With this resource at hand, you'll stay informed and organised, ensuring that you never miss a business deadline (again).

What are the UK tax year dates for 2024/25?

The 2024/2025 tax year runs until the 5th of April 2025. The year brings many business changes, including national insurance, living wage increase, pensions, dividend allowance, and capital gains tax.

Corporation tax deadline

Corporation tax returns can only cover twelve months. This could be any day of the year but generally falls at the month's end. There are two deadlines that you need to be aware of:

1. Corporation tax payment date
2. Corporation tax return date

• For small companies, after filing on HMRC, the payment due date is nine months and one day after the end of the accounting period.

• For large companies with profits greater than £1.5m, the first instalment is due six months and 13 days after the first day of the accounting period, followed by quarterly payments.
• For 'very large' companies making more than 20m in profits, the first instalment is two months and 13 days after the first day of the accounting period, followed by quarterly payments.

You must pay corporate tax before the return is due.

Tip: Complete your corporation tax return well before the deadline to avoid HMRC charging your company daily late payment interest.

VAT returns and payments

The VAT return deadlines and payment dates offer flexibility, depending on whether your business opts for a monthly, quarterly, or annual VAT scheme. This allows you to choose the scheme that best suits your business's needs and operations.

Most VAT-registered businesses choose to submit their VAT returns and payments to HMRC quarterly, four times a year.

If this applies to you, you must submit a VAT return every three months, in line with your business's accounting period. This means you are paying your tax one month + seven days after the end of the period.

Your company must register for VAT once your monthly turnover exceeds £90,000. You have to register within 30 days of the end of the month if you exceed the threshold.

Tip: HMRC will send you a VAT notice assessment of tax if you miss the deadline for VAT return submissions. You may also be required to pay a surcharge or penalty for late payment. We suggest you add this deadline to your Outlook calendar to avoid late fees.

Self Assessment tax bill

Sole traders are required to register for Self Assessment and file a tax return by HMRC’s Self Assessment deadline. After registering as a sole trader, you file your income and expenses for the previous tax year, and then HMRC calculates the amount you owe.

Your previous year's tax bill is due in two instalments. The first instalment is due the same day you submit your Self Assessment tax return, where you pay your tax bill from 2023/24.

Self Assessment payment dates and tax return deadlines for sole traders are the same each year:

• 5th October - deadline for Self Assessment registration to notify changeability of Income Tax/Capital Gains Tax for 2023/2024.

• 31st January - file your Self Assessment tax return, make payment for the balance of tax due and make payment on account for the next year.

• 3rd July - make payment for the second payment on account for 2023/24.

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PAYE due dates

The HMRC's Real Time Information (RTI) initiative requires UK businesses to submit two monthly electronic data files. These files are generated and submitted through payroll or HMRC software and consist of the following:

• Full Payment Submission (FPS): a form with all payments to your employees with the tax and National Insurance (and other deductions) you owe them as reported on or before your employee's payday.

• Employer Payment Summary (EPS): This form is where you reclaim statutory maternity, paternity, adoption, and bereavement. Also, the Employment Allowance (once a tax year) can be claimed, and a limited company can reclaim the Construction Industry Scheme (CIS) deductions.

You must submit payroll data files to HMRC.

For electronic payments, the deadlines are the following month by the 22nd, whereas postal payments are due by the 19th.

Each month following payroll data file submissions, you can log into your HMRC account to view the amount you owe from the 10th.

Pay tax rates and thresholds for 2024/25

• Employee Personal Allowance: £12,570
• Basic Rate Tax Band: 20% on income between £12,571 and £50,270
• Higher Rate Tax Band: 40% on income between £50,271 and £125,139
• Additional Rate Tax Band: 45% on income above £125,140
• The standard tax code: 1250L

Key 2024/25 tax year dates

Within this section, you'll discover a convenient calendar showcasing essential tax dates. Or utilise CTRL+F to navigate to the specific information you seek swiftly. The dates are categorised by month, enabling you to locate the desired month or search terms like 'Self Assessment deadline' to determine the deadline.

April 2024

1st April

• Empty Property relief: A six to thirteen weeks reset from 1st April on business properties, including industrial (warehouse) premises.
• VAT Registration Threshold: Increased from £85,000 to £90,000.
• Research and Development (R&D): The reformed RDEC scheme is now used by SMEs; the rate of above-the-line tax credit will be 20%, which translates into a post-tax benefit of between 15% and 16.2%.
• The National Living Wage: to increase to £11.44 per hour
• The Standard Minimum wage: young workers aged 18-20 to rise to £8.60 per hour.

5th April - The 2022/23 tax year ends.

• The deadline for claiming any tax refunds from HMRC.

6th April

• The 2024/25 tax year begins.
• For businesses, this is the day the new VAT return period begins. Be aware of changes to rates and thresholds when operating your payroll.
• Compensation for unfair dismissal will increase to the lower of £115,115 and one year's pay.
• The limit on a week's pay for calculating statutory redundancy pay (and the unfair dismissal basic award) will increase to £700.
• Class 1 National Insurance: Contributions will be cut from 10% to 8%.
• Class 4 National Insurance: contributions to be cut from 8% to 6%.
• Personal allowance: 0% tax on earnings up to £12,570.
• Advanced tax band rate: 45% on earnings between £75,001 and £125,140.
• Dividend allowance rate: decreased from above £1000 to above £500.
• Enterprise Management Incentives (EMI): new changes to the EMI here.
• Child benefit charge: the threshold for applying has been increased to £60,000, and increasing the end range to £80,000
• Capital gains tax: annual exemption decreases to £3,000 for individuals and personal representatives and £1,500 for most trustees.

8th April

• Statutory maternity, paternity, adoption, shared parental and parental bereavement pay will increase to £184.03 per week.
• Statutory sick pay will rise to £116.75 per week.

19th April - Deadline for final 2023/24 PAYE submission report, quarter-end 5th April 2024.

22nd April - Deadline for digital remittance of PAYE, NICs and CIS, quarter-end 5th April 2024.

30th April

• Deadline for filing of accounts (accounting period ending 30 July 2023)
• Late filing Self Assessment penalties take effect
• Corporation Tax return deadline (accounting period ending 30th April 2023)
• Plastic packaging tax (PPT) deadline.

HMRC will send you a late filing penalty of £100 if your tax return is up to three months late.

May 2024

1st May - Corporation tax payment (31 July 2023 year ends)

3rd May - Deadline for P46 printed forms (for the quarter ending 5th April).

Note: The deadline is 5th April if using an electronic form.

7th May - VAT return and associated payments deadline (for the accounting quarter ending 31st March 2024).

22nd May - Deadline for digital remittance of PAYE, NICs and CIS.

31st May

• Deadline for sending 2023/24 P60s.
• Corporation tax returns (31 May 2023 year ends)
• Payrolling of benefits deadline - provide a statement to employees with specific information about payroll benefits.

All employees must be given their P60 for the 2023/24 tax year. This is an official record of pay and tax deductions.

June 2024

1st June - Corporation tax payment (31 August 2023 year ends)

7th June - VAT return and associated payments deadline (for the accounting quarter ending 30th April 2024).

22nd June - Deadline for digital remittance of PAYE, NICs and CIS, month-end 5 June 2024

30th June

• Deadline for filing of accounts (accounting period ending 30th July 2023).
• Corporation Tax returns (30 June 2023 year ends)

July 2024

1st July - Corporation tax payment (30 September 2023 year ends)

5th July - Deadline to agree 2023/24 PAYE Settlement Agreements (PSAs) with HMRC

6th July - Filing deadline date for Expenses and Benefits forms P11D9(b) and P11D to reach HMRC.

7th July - VAT return and associated payments deadline (for the accounting quarter ending 31st May 2023)

22nd July

• Deadline for digital remittance of PAYE, NICs and CIS
• Deadline for Class 1A NIC owed on expenses and benefits

31st July

• Deadline for filing of accounts (accounting period ending 31st October 2023)
• Due date for second payment on account for income tax for 2023/24
• Corporation tax return deadline (accounting period ending 31st October 2023)
• Plastic packaging tax: return and payment quarter ending 30th June.

August 2024

1st August - Corporation tax payment (31 October 2023 year ends)

2nd August - Deadline for P46 forms (for quarter ending 5th July)

7th August - VAT return and associated payments deadline (for the accounting quarter ending 30th June 2024)

22nd August - Deadline for digital remittance of PAYE, NICs and CIS

31st August

• Deadline for filing of accounts (accounting period ending 30th November 2023)
• Corporation tax return deadline (accounting period ending 31st August 2023)

September 2024

1st September - Corporation tax payment (30 November 2023 year ends)

7th September - VAT return and associated payments deadline (for the accounting quarter ending 31st July 2024)

22nd September - Deadline for digital remittance of PAYE, NICs and CIS

30th September

• Deadline for filing of accounts (accounting period ending 31st December 2023)
• Corporation tax return deadline (accounting period ending 30th September 2023)

October 2024

1st October - Corporation tax payment (31 December 2023 year ends)

5th October - Notify HMRC of Self Assessment 2023/24 chargeability

If you’re self-employed as a sole trader and earned more than £1,000 before tax relief in the previous tax year, you must register for Self Assessment and Class 2 National Insurance in your business’s second tax year.

7th October - VAT return and associated payments deadline (for the accounting quarter ending 31st August 2024)

22nd October

• Deadline for digital remittance of PAYE, NICs and CIS
• PAYE settlement agreement: digitalised payment of 2023-24 Class 1B NIC and Tax

31st October

• Deadline for filing your Self Assessment 2023/24 tax return with HMRC by post
• Deadline for filing of accounts (accounting period ending 31st January 2023)
• Corporation tax return deadline (accounting period ending 31st October 2023)
• Plastic packaging tax: return and payment quarter ending 30th September 2024

November 2024

1st November - Corporation tax payment (31 January 2024 year ends)

2nd November - Deadline for P46 forms (for quarter ending 5th October 2024)

7th November - VAT return and associated payments deadline (for the accounting quarter ending 30th September 2024)

22nd November - Deadline for digital remittance of PAYE, NICs and CIS

30th November

• Deadline for filing of accounts (accounting period ending 26th February 2024)
• Corporation tax return deadline (accounting period ending 30th November 2023)

December 2024

1st December

• New advisory fuel rates take effect for company cars
• Corporation tax payment (28 February 2024 year ends)

7th December - VAT return and associated payments deadline (for the accounting quarter ending 31st October 2024)

22nd December - Deadline for digital remittance of PAYE, NICs and CIS

30th December - Deadline for filing Self Assessment Income Tax return (if tax is collected through PAYE Code number)

31st December

• Deadline for filing of accounts (accounting period ending 31st March 2024)
• Corporation tax return deadline (accounting period ending 31st December 2023)

January 2025

1st January - Corporation tax payment (31 March 2024 year ends)

7th January - VAT return and associated payments deadline (for the accounting quarter ending 30th November 2024)

22nd January - Deadline for digital remittance of PAYE, NICs and CIS

31st January

• Deadline for filing of accounts (accounting periods ending 30th April 2024)
• Corporation tax return deadline (accounting period ending 31st January 2023)
• Deadline for 2023/24 Self Assessment tax return (online) and the first payment on account
• National insurance: notify of liability to Class 2 NI where self-employment commenced in 2023/24.
• National insurance: Form CA72A (deferral) for the self-employed

For businesses filing their Self Assessment tax return online, the deadline to submit the return and pay money owed for 2024/25 is midnight on 31st January.

February 2025

1st February - Corporation tax payment (30 April 2024 year ends)

2nd February - Deadline for P46 forms (for the quarter ending 5th January 2025)

7th February - VAT return and associated payments deadline (for the accounting quarter ending 31st December 2024)

22nd February - Deadline for digital remittance of PAYE, NICs and CIS

28th February - Deadline for filing of accounts (accounting period ending 28th February 2024)

29th February - Corporation tax return deadline (accounting period ending 31st March 2023)

March 2025

1st March - Corporation tax payment (30 June 2024 year ends)

7th March - VAT return and associated payments deadline (for the accounting quarter ending 31st January 2025)

22nd March - Deadline for digital remittance of PAYE, NICs and CIS

31st March

• Deadline for filing of accounts (accounting periods ending 30th June 2024)
• Corporation tax return deadline (accounting period ending 31st March 2024)

April 2025

5th April - The 2024/25 tax year ends

Free Business Tax Dates Calendar Download

Download your free business tax dates calendar in either a PDF or CSV file. Print it and put it on your desk so you never miss a deadline, or upload the CSV to your Google or Outlook calendar.

Key Tax Dates Calendar CSV 24-25

Key Tax Dates and Deadlines Calendar PDF

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