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Tax Calendar: Important Dates & Deadlines April - May 2016

Now updated with May dates, here's a list of important tax dates and deadlines for the coming months.

April 2016 

  • 5th - End of 2014/15 tax year. Last chance to avail of annual exemptions for capital gains tax, inheritance tax, pension allowances and ISA's
  • 5th - Last chance to use up any unused pension allowance from 2012/13; or to claim back any overpaid tax from 2011/12; or to top up your NI contributions for the sake of your state pension for 2009/10.
  • 6th - New tax year commences as do any tax changes such as the increase in the basic personal allowance to £11,000
  • 6th - HMRC issue Self Assessment Returns and Notices to Complete a Return for the year to 5 April 2016.
  • 30th - Last chance to avoid the £10 a day additional penalty on outstanding 2014/15 Self Assessment tax return.

Below dates relevant for Employers only

  • 6th - Employers must check their payroll software incorporates the 2016-17 changes from today. Also make sure any relevant changes to employees tax codes for the 2016/17 year have been made.
  • 19th -Your final Full Payment Submission (FPS) for the 2014-15 year should be returned by today. Note from 6th April 2015 completing the final declaration checklist on your FPS is no longer mandatory. HMRC will accept a final FPS or EPS for a period from 6 April 2014 to 5 April 2016 with or without a completed checklist.
  • 19th (22nd if paid electronically) - 1st quarter PAYE/Nat. Ins. payments due for period 6th Jan to 5th April 2015.
  • 19th (22nd if paid electronically) -PAYE, Nat Ins, Student Loan & CIS monthly deductions due.
  • 19th (22nd if paid electronically) -Interest is charged on any outstanding PAYE/CIS from 2014/15.

May 2016

  • 1st - 2014/15 Self Assessment now 3 Months late = £10 a day fine up to a maximum of £900 (90 days) for every day it is late.
  • 31st - Employees should have received their P60 for 2015/16 from their employer by this date.

Below dates are relevant for Employers only

  • 3rd - Deadline to notify HMRC of changes to employees car/fuel benefit (P46) from previous quarter. 
  • 19th (22nd if paid electronically) - PAYE, Nat. Ins.,Student Loan & C.I.S. Monthly deductions due.
  • 31st - Last date to issue P60’s for 2015/16 to employees.

If there are any relevant tax dates we are not presently including in our tax calendar, please feel free to contact us to request their inclusion.

This article was published in our Tax Calendar section on 26/04/2016.

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