31st January – Online Self Assessment Tax Returns
This is the most important tax date as this is when the filing of your self-assessment tax returns have to be completed. Any income outside of PAYE tax means that you have to submit a tax return. This declares your earnings from the 2020/21 tax year and what tax you have to pay.
You do not have to wait until the 31st of January deadline.
This date is also when you need to pay the first 50% of your previous tax year bill. The second of which is in July.
5th April – End of 2021/22 tax year
Most companies financial records start on the 6th of April which means that comes the 5th April 2022, this is the last day in which the rules and regulations for the 2021/22 tax year apply.
6th April – Beginning of 2022/23 tax year
Every sole trader and small business needs to track their finances year on year. The 6th of April is when most allowances reset and the introduction of any new Government tax rules and legislation begin. This date represents many small businesses and self-employed individuals the ideal opportunity to switch accountant or bookkeeper.
31st May – P60 Deadline
If you have drawn a salary from your limited company then you must submit your P60 before this date. It acts as a summary of income received and the tax paid during the previous tax year.
6th July – P11d Deadline
For employees who receive benefits, a P11d must be submitted for the previous years tax year by this date whether you are self employed or a company director.
31st July – Second Payment Due for previous tax year accounts
While the first payment is due on the 31st of January, this is when the final 50% payment is required for any tax bill that has exceeded £1,000.
5th October – Self Assessment Registration Deadline
You must register for self assessment with HMRC by this date if you have not already done so.
31st October – Deadline for paper self assessment submission
While it is generally advised that you should complete your self assessment submission digitally, this is when the paper submission forms must be submitted by.
30th December – Tax Return Deadline (Less than £3,000)
If your tax bill is less than £3,000 then this is the deadline for filing your online tax returns.