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A round up of the evolving key deadlines and dates and other important dates.
The Spring Budget will be on 6 March 2024.
The Autumn Statement was on 22 November 2023.
|Interest starts to accrue on any unpaid self-assessment tax liability due for 2021/22
|Deadline to apply for deferment of payment of Class 1 NICs (form CA72A) for 2023/24 (can be extended to 5 April 2024 where the employer agrees)
|Off-payroll working (IR35). Closing date for responding to HMRC's consultation for offsetting tax and NIC when an employment status determination is changed to ‘employed’.
|Bishop Fleming Budget seminars
|Business Rates relief ends for Retail, Hospitality and Leisure sectors.
|Deadline for amending ATED return for the year ended 31 March 2023
|Financial Year 2024 begins
|75% business rate discount for retail, hospitality, and leisure extended for another year. to 31 March 2025.
|R&D tax relief schemes merged into one scheme
|National Living Wage to rise to £11.44 per hour
|New rate of Plastic Packaging Tax
|Last day of the tax year to utilise any tax allowances
|Last day for employers to apply for payrolling benefits for tax year 2024/25
|New tax year 2024/25 begins
|The capital gains tax allowance halves from £6,000 to £3,000
|New 45% and 48% income tax rates introduced in Scotland
|Start of new basis periods rules for sole traders & partnerships
|Abolition of pension lifetime allowance
|Class 2 NICs for self-employed abolished
|Class 4 NICs rate reduced to 8% on profits between £12,570 and £50,270. Rate remains at 2% on profits above £50,270
|Construction Industry Scheme (CIS) reforms to:
|Flexible working becomes a day one right for flexible working requests made on or after 6 April 2024. (Updated guidance)
|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.
|ATED returns and payments for 2024/25 due for properties held on 1 April 2024
|Deadline for employees to receive forms P60 for 2023/2024
|Deadline for PAYE Settlement Agreements for 2023/2024
|Deadline for submission of forms P11D for 2023/2024
|Second Payment on Account due for Income Tax
|Recovery Loan Scheme ends.
|Deadline for submitting a paper Self-Assessment tax return
|Submit online personal tax return for 2023–24 if taxpayer wants HMRC to collect tax underpayment (below £3,000) through PAYE coding
|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)
|Deadline to pay and submit Self-Assessment Tax Returns for tax year ending 5 April 2024 (personal, trustee & partnership).
|First Payment on Account for Income Tax due for 2024/2025
|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).
|Mortgage Guarantee Scheme ends
|Making Tax Digital for Income Tax Self Assessment begins
|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 ...
There are some ongoing deadlines of which individuals and businesses need to be aware.
|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
|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.