Tax Calendar: Important Dates & Deadlines March - April 2017
Now updated with April dates, here's a list of important tax dates and deadlines for the coming months.
March 2017 (note the 19th is a Sunday, so employer payments to have cleared by Fri 17th)
- 1st - 2015/16 Self Assessment payment now 30 days late = 5% charge on the tax owing on that day.
- 8th - Budget Day - The Last Spring Budget as Philip Hammond has moved the Main Budget to the Autumn from now on, with only a small Spring Statement, from next year.
- 31st - Closing date to claim for the Winter Fuel Benefit for this year.
- March - Last minute tax planning. Double check you have availed of all relevant allowances/ exemptions for capital gains tax, inheritance tax, ISA's and pension. Check out our article on making the most of your annual allowances.
Below dates relevant for Employers only.
- 1st - Last chance to pay any balance of 2015/16 tax and Class 4 NICs to avoid an automatic 5% late payment penalty.
- 1st - New advisory fuel rates for users of company cars effective from today.
- 17th (22nd if paid electronically) - PAYE, Nat. Ins.,Student Loan & CIS monthly deductions due. Last day to send in Employer Payment Summary's (EPS) for month ended 5th March.
- 1st - Introduction of the new 16.5% VAT flat rate for businesses with limited costs. More Info here.
- 1st 5th - 1st is the end of the Business Premises Renovation Allowance (BPRA) for Corporation Tax, the 5th for Income Tax. A 100% tax allowance for certain spending when you’re converting or renovating qualifying business premises in a disadvantaged areas.
- 5th - End of 2015/16 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 2013/14; or to claim back any overpaid tax from 2012/13; or to top up your NI contributions for the sake of your state pension for 2010/11.
- 6th - New tax year commences as do any tax changes such as the increase in the basic personal allowance to £11,500
- 6th - HMRC issue Self Assessment Returns and Notices to Complete a Return for the year to 5 April 2017.
- 30th - Last chance to avoid the £10 a day additional penalty on outstanding 2015/16 Self Assessment tax return.
Below dates relevant for Employers only
- 6th - Employers must check their payroll software incorporates the 2017-18 changes from today. Also make sure any relevant changes to employees tax codes for the 2017/18 year have been made.
- 19th - Your final Full Payment Submission (FPS) for the 2015-16 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 2015 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 2016.
- 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 2015/16.
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 28/02/2017.
Some Guides you may be interested in
- Off-payroll working in the private sector - a contractors guide IR35 is a tax legislation used to distinguish between employees and genuinely self-employed contractors. Last month we compiled a comprehensive guide to IR35. Now, we take an in-depth look at how the ‘off-payroll working’ rules, introduced to the public sector in 2017, will be extended to medium and large-sized businesses in the private sector from April 2020.
- Valid expenses you could claim as a landlord Are you a landlord? Maybe considering a new home, and letting out your current property? Maybe you’re working abroad for a while, and renting your home to make ends meet? Before you take the plunge (or even if you took it years ago), this article aims to help you make the most from your rental income.
- A guide to expenses for Contractors As a contractor, working through your own limited company, one of the main benefits available to you is the ability to claim business expenses. Claiming expenses correctly can reduce your tax bill, it’s a vital part of running your company tax efficiently.
- 7 reasons you could have the wrong Tax Code Your Tax Code tells your employer how much tax to take off your pay. What if your code is wrong?
In the past 4 years, 1 in 3 employed taxpayers have been overcharged tax because their employer has received the wrong code from HMRC!
- IR35 - A contractors guide for 2018/19 IR35 is a complex piece of legislation used to distinguish between true self-employed contractors and employees. As a contractor, it’s important that you have an awareness and understanding of IR35 to ensure that you’re paying the correct amount of tax and National Insurance. Here’s a definitive introduction to IR35 to help you understand how it works.
- Making Tax Digital for Landlords There's every chance that you are not yet aware of Making Tax Digital (MTD). However, if you are a landlord with rental income - (that's income, not profit) – greater than £10,000 annually then you should be. MTD is the biggest shake up to the UK tax system since the advent of Self-Assessment in the 1990s. And it affects you, from April 2020 at least.
- Contractors - LTD Company v Umbrella? What are the benefits for contractors of setting up a Limited Company vs Umbrella Company? Read our guide, see how much you could take home in each setup.
- Capital Gains Tax on Rental Property (Buy-to-let) 2018 Whether it's primary residence relief, letting relief, or even the costs of improvement works, our resident landlord and property tax editor, Iain King has the information you need to reduce your CGT liability.
- 14 Reasons why you may be due a tax refund Almost 1 in 3 PAYE employees may have paid too much tax. We have put together a list of 14 reasons why you might be owed money by HMRC.
- Avoid paying too much tax on rental income Our resident landlord tax expert, Iain Rankin, has put together a great guide on how to reduce the amount of tax paid on income from your rental property
More from our Tax Calendar section