Tax Calendar: Important Dates & Deadlines June - July - August 2020

*Please note the information in this article may be out of date

Now updated with June, July and August dates. Here is a list of important tax dates and deadlines for the coming months.

Mon, 01 Jun 2020

June 2020

• 1st New Fuel Rates (AFR) come into action for those using Company Cars
• 26th Annual Declaration packs (tax credit renewals) have been sent out, if you did not receive yours contact the tax credit helpline on 0345 300 3900.

Below dates are relevant for Employers / Businesses only

• 10th Date by which employers need to have agreed with, and placed, employees on furlough in order to qualify for the Coronavirus Job Retention Scheme, by the cut off date of June 30th
• 7th Deadline for VAT returns and payments of Accounting Quarter period ending 31 May 2020 (COVID19- if delaying paying VAT, return still needs to be made)
• 19th (21st if paid electronically) -PAYE, Nat Ins, Student Loan & CIS monthly deductions due.
• 30th The cut off date for the Coronavirus Job Retention Scheme. After this employers will only be able to furlough employees that they have furloughed for a full 3 week period prior to 30 June.

July 2020

Please Note: August 19th is a Sunday so electronic manual payments need to be cleared by Friday 17th

• 6th Deadline to "make good" any non- payrolled Benefit in Kind (BIK) liability with Employer, from using a company car etc. This reduces an employee’s taxable earnings and the value on which Class 1A National Insurance contributions (NICs) are payable. Payments made after the 6th July will not be taken into account when calculating the tax due on the benefit.
• 13th Deadline for applying for the first Self-Employment Income Support Scheme (SEISS) grant. 
• 31st COVID19 -Capital Gains Tax owing on UK property sales from 6th April to the 30th June were given a payment extension until the 31st July. To avoid penalties, a CGT return must be made by 31st July using HMRC's new online reorting system. More..
• 31st The Second payment on a/c due 2019/20 (COVID19- You can delay this self-assessment payment on account More info)
• 31st Annual Declaration (renewal of tax credits). You must return your Tax Credit pack forms to HMRC by this date. More Info
• 31st Last day to pay any tax owing on 2018/19 Self Assessment before 1st August (when it is 6 months late) = £300 fine or 5% of the tax owing, which ever is greater.

Below dates are relevant for Employers only

• 1st Employers can bring back employees that have been furloughed through the Coronavirus Job Retention Scheme.
• 5th Last date to agree PAYE settlements with HMRC for 2019/20 if any owing.
• 6th Employers must inform HMRC of any new employee share incentive schemes , or report on existing ones, by this date. Any resulting changes to employee tax credits must be reported. Once a share scheme has been registered, even if there are no share events to report, a nil return is still required to be made each year before the deadline. Fines apply when returns are missed- a minimum of £100 per return. More here.
• 6th Forms 9D, 11D and 11D(b) to do with employees benefits and expenses, to be returned by this date and a copy given to each employee.
• 7th Deadline for VAT returns and payments of Accounting Quarter period ending 31 May 202. COVID Delaying of VAT payments by HMRC has now finished and payments resume this month as normal- make sure to reinstate your Direct Debits for VAT payments. 
• 17th (22nd if paid electronically) Class 1A Nat. Ins for 2019/20 (form 11D returned by 6th of this month- employees benefits) due to be paid.
• 17th (22nd if paid electronically) PAYE, Nat. Ins.,Student Loan & C.I.S. Monthly deductions due.
• 17th, (22nd if paid electronically) 2nd quarter PAYE/Nat. Ins. payments due for period 6th April to 5th July 2020.
• 31st Deadline for employers to claim for furloughed employees up to the 30th June, under the Coronavirus Job Retention Scheme.

August 2020

• August 2nd Second 5% charge on any unpaid tax owed on 2018/19 Self Assessment Return, plus a further £300 fine or 5% of the tax owing (which ever is greater), for those who still have not submitted their return.

Below dates are relevant for  Employers only

• August 2nd Deadline to notify HMRC of changes to employees car/fuel benefit (P46) from previous quarter.
• 7th Deadline for VAT returns and payments of Accounting Quarter period ending 31 May 2020
• August 19th (22nd  if paid electronically) PAYE, Nat. Ins.,Student Loan & C.I.S. Monthly deductions due.

31st Bank Holiday Monday

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.