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
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- Making Tax Digital for Small Businesses Making Tax Digital for VAT (MTDfV) comes into effect from 1st April 2019. With Chancellor Philip Hammond announcing in his 2019 Spring Budget that MTD for other taxes will not be mandated until at least 2021, all of our focus is now on the VAT implementation.
- End of Tax Year planning - Use your Allowances to reduce your tax bill. Last minute Tax Planning. Our guide to what annual allowances you have and how to use them to reduce your tax bill.
- A Contractor's introduction to Director's Loans There may be a time when you need to loan money to or borrow money from your own Limited Company. Director’s loans are wrapped up in fiddly bits of legislation. When borrowing cash from your company, care must be taken. You must ensure that you fully understand the tax implications before you take any kind of loan from your business.
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- 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.
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