Now that we’ve started the new tax year, what are the dates you need to remember?
Here is the ultimate tax calendar for SMEs 2011-12. We suggest you print this out and pin it somewhere near your desk. Or, at the very least, mark some of the key dates in your diary.
Tax calendar for SMEs 2011-12:
April 2011
April 5: Last day of tax year
April 6: First day of tax year
April 19: Deadline for postal payment to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs for the tax year ending April 5, 2011
April 21: Deadline for electronic payments to be cleared in HMRC bank account for any outstanding PAYE and Class 1 NICs for the tax year ending April 5, 2011
May 2011
May 19: Deadline for filing your Employer Annual Return (P35 and P14s) for the tax year ending April 5, 2011
May 31: Last date for giving a form P60 for 2010-11 to each relevant employee who was working for you on April 5, 2011
June 2011
No key deadlines for NICs, PAYE or Self Assessment
July 2011
July 5: Last date for agreeing your PAYE Settlement Agreement for 2010-11 (if any)
July 6: Deadline for submitting form 42 or other relevant form to report share-related benefits provided to employees
July 6: Deadline for filing forms P9D, P11D, P11D(b), or substitutes for the tax year ending April 5, 2011
July 6: Last date for giving a copy of the 2010-11 forms P9D, and forms P11D, or substitutes, for the tax year ending April 5, 2011 to reach your HMRC Tax Office
July 19: Deadline for postal payment to reach HMRC Accounts Office for any outstanding Class 1A NICs for the tax year ending April 5, 2011
July 22: This is the final date for electronic payments to be cleared in HMRC bank account for any outstanding Class 1A NICs for the tax year ending April 5, 2011
July 31: Deadline for second income tax Self Assessment payment on account for tax year ended April 5, 2011
August 2011
No key deadlines for NICs, PAYE or Self Assessment
September 2011
No key deadlines for NICs, PAYE or Self Assessment
October 2011
October 5: Deadline to notify chargeability for Income Tax/Capital Gains Tax for 2010-11 if not registered for Self Assessment or a penalty for failure to notify may apply. Complete form CWF1 for self-employment or form SA1 for non self-employed income
October 31: Deadline for paper submission of income tax Self Assessment tax return for tax year ended April 5, 2011
November 2011
No key deadlines for NICs, PAYE or Self Assessment
December 2011
December 30: Deadline for online submission of Self Assessment tax return for tax year ended April 5, 2011 for HMRC to collect tax through client’s PAYE code, where they owe less than £2,000
January 2012
January 31: Deadline for online submission of Self Assessment tax return for tax year ended April 5, 2011
January 31: Deadline for paying Self Assessment “balancing payment” for tax year ended April 5, 2011
January 31: Deadline for first Self Assessment payment on account for tax year ended April 5, 2012
February 2012
No key deadlines for NICs, PAYE or Self Assessment
March 2012
No key deadlines for NICs, PAYE or Self Assessment
Those are the main tax deadlines for the year. Of course, there are also regular monthly and quarterly deadlines you also need to watch for:
PAYE and Class 1 National Insurance
Contribution (NICs) deadlines: Deadline for electronic payments to be cleared in HMRC bank account for any outstanding PAYE and Class 1 NICs for the year ending April 5, 2011 is the 22nd of each month.
PAYE/NICs payment deadlines
Cheque payment for any outstanding PAYE and Class 1 NICs must reach HMRC Accounts Office by the 19th of each quarter.
- First quarter: July 19, 2011
- Second quarter: October 19, 2011
- Third quarter: January 19, 2012
- Fourth quarter: April 19, 2012
Cleared electronic payment must reach HMRC’s bank account no later than the 22nd of each quarter. Where the 22nd falls on a weekend or a bank holiday, ensure payment arrives no later than the last bank working day before the 22nd.
- First quarter: July 22, 2011
- Second quarter: October 22, 2011
- Third quarter: January 22, 2012
- Fourth quarter: April 22, 2012
Of course, the standard disclaimer applies: dates were correct when we printed this article, etc. Do check with a professional or with HMRC if you’re unsure of any information.
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