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Key dates and deadlines to note
1st April 2024
A round up of the evolving key deadlines and dates and other important dates.
The Spring Budget 2024 was on 6 March 2024
| 2024 | Deadline |
| Apr 1 | Financial Year 2024 begins |
| Apr 1 | 75% business rate discount for retail, hospitality, and leisure extended for another year. to 31 March 2025. |
| Apr 1 | R&D tax relief schemes merged into one scheme |
| Apr 1 | National Living Wage to rise to £11.44 per hour |
| Apr 1 | New rate of Plastic Packaging Tax |
| Apr 1 | VAT registration level increased to £90,000 |
| Apr 5 | Last day of the tax year to utilise any tax allowances |
| Apr 5 | Last day for employers to apply for payrolling benefits for tax year 2024/25 |
| Apr 6 | New tax year 2024/25 begins |
| Apr 6 | The CGT allowance halves from £6,000 to £3,000 |
| Apr 6 | New 45% and 48% income tax rates introduced in Scotland |
| April 6 | Start of new basis periods rules for sole traders & partnerships |
| Apr 6 | Abolition of pension lifetime allowance |
| Apr 6 | Class 1 Employee NICs rate reduced to 8% (second cut in six months) |
| Apr 6 | Class 2 NICs for self-employed abolished |
| Apr 6 | Class 4 NICs rate reduced to 6% on profits between £12,570 and £50,270. Rate remains at 2% on profits above £50,270 |
| Apr 6 |
The high income child benefit charge threshold increases to £60,000, while the rate at which the charge is levied will be halved, so that child benefit will not be fully withdrawn until an individual’s income reaches £80,000. |
| Apr 6 | Residential property disposals: higher rate of CGT cut from 28% to 24%. |
| Apr 6 | Construction Industry Scheme (CIS) reforms to:
|
| Apr 6 | Flexible working becomes a day one right for flexible working requests made on or after 6 April 2024. (Updated guidance) |
| Apr 6 | Unpaid carer's leave. Employees become entitled from their first day of work to unpaid leave to care for a ‘dependant’ who has: 1. a physical or mental illness or injury 2. a disability (as defined by Equality Act 2010) 3. care needs because of their old age. |
| Apr 6 | New Paternity rights where the expected week of birth begins after 6 April 2024. New parents can have leave in two non-consecutive periods of one week or a single two-week block |
| Apr 30 | ATED returns and payments for 2024/25 due for properties held on 1 April 2024 |
| May 31 | Deadline for employees to receive forms P60 for 2023/2024 |
| Jun 1 | Multiple dwelling relief within SDLT regime abolished |
| Jul 6 | Deadline for PAYE Settlement Agreements for 2023/2024 |
| Jul 6 | Deadline for submission of forms P11D for 2023/2024 |
| Jul 31 | Second Payment on Account due for Income Tax |
| Jul 31 | Recovery Loan Scheme ends. |
| Oct 31 | Deadline for submitting a paper Self-Assessment tax return |
| Dec 31 | Submit online personal tax return for 2023–24 if taxpayer wants HMRC to collect tax underpayment (below £3,000) through PAYE coding |
| 2025 | |
| Jan 23 | Latest day for a UK general election (Dissolution and Calling of Parliament Act 2022, section 4) (See also the General Election timetable from the House of Commons Library) |
| Jan 31 | Deadline to pay and submit Self-Assessment Tax Returns for tax year ending 5 April 2024 (personal, trustee & partnership). |
| Jan 31 | First Payment on Account for Income Tax due for 2024/2025 |
| Feb 1 | Interest starts to accrue on any unpaid self-assessment tax liability due for 2022/23 |
| Mar 31 | Last day of temporary reduction in Stamp Duty land Tax for the purchase of residential property in England. (Stamp Duty Land Tax (Temporary Relief) Act 2023). |
| Apr 6 | New tax year 2025/26 begins |
| Apr 6 | Furnished holiday letting tax regime abolished. |
| Apr 6 | Shareholders in Owner Managed Businesses will be required to provide:
|
| Apr 6 | Non-domicile rules replaced with a new regime based on residence |
| Jun 30 | Mortgage Guarantee Scheme ends |
| 2026 | |
| April 6 | Making Tax Digital for Income Tax Self Assessment begins |
| Apr 6 | Payrolling benefits in kind. The government will mandate the reporting and paying of Income Tax and Class 1A NICs on benefits in kind via payroll software from April 2026. |
| 2027 & beyond | Making Tax Digital for partnerships and companies - dates to be provided. |
| The UK is to implement a new import carbon pricing mechanism by 2027 to support the decarbonisation drive. | |
| ... More dates to follow ... |
Repeating deadlines
There are some ongoing deadlines of which individuals and businesses need to be aware.
| Companies | |
| 12 months after company's year-end | Corporation Tax and statutory accounts filing date with HMRC |
| 9 months and 1 day after company's yearend | Due date for payment of any corporation tax liability |
| All businesses - monthly/quarterly | |
| 7th of the month | VAT returns and payment due |
| 14th of the month | Corporation tax quarterly instalment due |
| 19th of the month | Due date for CIS, PAYE and NICs, if paying by cheque |
| 22nd of the month | Due date for CIS, PAYE and NICs, if paying electronically |
| Individuals | |
| Within 60 days of completion of conveyance | Report and pay any CGT on the disposal of Uk property by a non-UK resident |
If you would like to discuss how these deadlines may impact on you or your business, please contact your usual Bishop Fleming advisor.
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