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Important dates

Tax liabilities

We tell clients how much tax is due, to who and when but it’s worth noting the following deadlines. It’s also worth noting that should you or your company default on the payment of PAYE and NI and other taxes, there are existing procedures – which have been used successfully in the past – and new ones to not only enforce PAYE liabilities on the employee who received the emoluments and, in the case of NI, any Director of a company which fails to pay NI due, where the Director is fraudulently or negligently concerned with non payment, but it is also possible to obtain freezing orders over a Director’s personal assets to secure payment of NI liabilities and worse, HMRC now have the power to seize money direct from taxpayer’s bank accounts.

Important dates

There are various dates which you must be aware of, both for company related tax issues and for your own personal tax issues. It’s worth remembering that both HMRC and Companies House levy fines and interest for late filing of returns and late payment of taxes. These are as follows:

CompanyDate due
Corporation tax payableWithin 9 months and 1 day of the company’s
financial year end
Annual AccountsFiled within 9 months after the company’s
financial year end
Company’s Annual ReturnAnniversary of incorporation date
PersonalDate due
Personal tax year end5th Apr
PAYE and National Insurance on salary19th following the month of deduction
Self Assessment returnDue by 31st Oct if hard copy or 31st Jan if online
VATDate due
Payment of VAT One calendar month and seven days after the end of your VAT period
File VAT returnOne calendar month and seven days after the end of your VAT period
EC sales list14 days after the end of your VAT period