Tax calendar

December 2019

Thursday 19 PAYE, Student loan and CIS deductions are due for the month to 5th December 2019

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th December 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Sunday 22nd December. In year interest will be charged if payment is made late. Penalties also apply.

Monday 30 Online filing deadline for submitting 2018/19 self assessment return if you require HMRC to collect any underpaid tax by making an adjustment to your 2020/21 tax code

This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2020/21.

January 2020

Sunday 19 PAYE, Student loan and CIS deductions are due for the month to 5th January 2020

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.  

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd January 2020. In year interest will be charged if payment is made late. Penalties also apply.

Sunday 19 PAYE quarterly payments are due for small employers for the pay periods 6th October 2019 to 5th January 2020

This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd January 2020. In year interest will be charged if payment is made late. Penalties also apply.

Friday 31 Deadline for submitting your 2018/19 self assessment return (£100 automatic penalty if your return is late) and the balance of your 2018/19 liability together with the first payment on account for 2019/20 are also due

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge liabilities. 

There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or your return shows that you are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2019 is due for payment by 31st January 2020.  Where the payment is made late interest will be charged.

The first payment on account for 2019/20 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2020.

If we have already dealt with your self assessment return on your behalf you need take no action.

February 2020

Sunday 2 Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th January 2020

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement.  The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit.  This notification may be made by completing and printing off the relevant by paper or online forms. Where one car is merely replaced with another, this may be notified online. A change in car for car benefits which are being ‘payrolled’ should not be reported on a P46(car).

Wednesday 19 PAYE, Student loan and CIS deductions are due for the month to 5th February 2020

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.  

Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21st February 2020 unless you are able to arrange a ‘Faster Payment’ to clear on or by Saturday 22nd February.

March 2020

Sunday 1 Advisory Fuel Rates

New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found by visiting https://www.gov.uk/government/publications/advisory-fuel-rates

Tuesday 3 5% late payment penalty on any 2018/19 outstanding tax which was due on 31st January 2020 and still remains unpaid

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax or High Income Child Benefit Charge liabilities. 

The balance of any outstanding income tax, Classes 2 and 4 National Insurance, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2019 was due for payment by 31st January 2020.  Where the payment is made late interest will be charged. On 3 March 2020 a late payment penalty of 5% will be added to the outstanding liability. 

If we have already dealt with this matter on your behalf you need take no action.

Thursday 19 PAYE, Student loan and CIS deductions are due for the month to 5th March 2020

This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.  

Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th March 2020 unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd March.

Tuesday 31 Last minute planning for tax year 2019/20

The final deadline of 5th April 2020 is relevant to individuals who have not considered year end tax planning issues.  These issues include:

• utilising your annual capital gains tax exemption
• utilising your annual inheritance tax exemption for gifts
• utilising your annual Individual Savings Account investment limit (ISA)
• making additional pension contributions for 2019/20.

Please do get in touch if you would like any further advice on these or any other issues.