Tax calendar

June 2020

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.  

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd June 2020. In year interest will be charged if payment is made late. Penalties also apply.

July 2020

This deadline is relevant to employers. Details of benefits and expenses provided to employees must be reported to HMRC on the relevant forms P11D. The P11D(b) form is used to calculate the Class 1A NI liability.

Please be aware that if we deal with the forms P11D on your behalf that we will ensure this matter is dealt with on a timely basis.

This deadline is relevant for companies who have reportable events for the tax year 2019/20.

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI, capital gains tax and High Income Child Benefit Charge liabilities.

The second payment on account in respect of income tax and any Class 4 NI is due for payment by 31st July 2020. Interest is charged on any late payments.

If we have already dealt with this matter on your behalf you need take no action.

October 2020

This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5th April 2020 but who believe they have received income or capital gains which will result in a tax liability. This deadline is also relevant to individuals who are liable to the High Income Child Benefit Charge.

Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31st January 2021.

If we have already dealt with this matter on your behalf you need take no action.

This deadline is relevant to individuals who need to complete a self assessment tax return for 2019/20 and wish to file the return in a ‘paper’ form. Self assessment returns submitted after this date must be submitted electronically.

Please note that this deadline is not relevant if we are going to submit an online return for you or you are going to deal with the completion of an online return yourself. The deadline for submission of online returns is 31 January 2021.

If we are already dealing with this matter on your behalf you need take no action.

This deadline is only relevant for those individuals who complete a ‘paper’ self assessment tax return and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2021/22.

Please note that where your return is submitted online then the filing deadline for ‘coding out’ is 30 December 2020.

If we are already dealing with this matter on your behalf you need take no action.

December 2020

This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2021/22.

January 2021

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge liabilities. 

There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or your return shows that you are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2020 is due for payment by 31st January 2021.  Where the payment is made late interest will be charged.

The first payment on account for 2020/21 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2021.

If we have already dealt with your self assessment return on your behalf you need take no action.

March 2021

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax or High Income Child Benefit Charge liabilities. 

The balance of any outstanding income tax, Classes 2 and 4 National Insurance, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2020 was due for payment by 31st January 2021.  Where the payment is made late interest will be charged. On 3 March 2021 a late payment penalty of 5% will be added to the outstanding liability. 

If we have already dealt with this matter on your behalf you need take no action.

The final deadline of 5th April 2021 is relevant to individuals who have not considered year end tax planning issues.  These issues include:

  • utilising your annual capital gains tax exemption
  • utilising your annual inheritance tax exemption for gifts
  • utilising your annual Individual Savings Account investment limit (ISA)
  • making additional pension contributions for 2020/21.

Please do get in touch if you would like any further advice on these or any other issues.