Key dates in the tax year

10 Jul 2018

Knowing the important deadlines in the tax year 6 April 2018 to 5 April 2019 will help you to prepare in good time.

Here’s the Williams Denton guide to your tax year:

Submit your final Full Payment Submission and/or your Employer Payment Summary on or before your final pay period for the 2017/18 tax year.

Register with HMRC to use the "payrolling employees taxable benefits and expenses" service before the start of the tax year.

6

Key tax changes come into effect including changes to income tax and National Insurance rates and thresholds.

22

PAYE and NICs for the month or quarter which ended on 5 April, paid to HMRC electronically (19 April if paid by post).

30

Automatic £100 penalty and additional daily penalties start to be incurred if you have not filed your self-assessment tax return for year ending 5 April 2017.

May

3

Form P46 (Car) relating to the quarter ending 5 April 2018 (if there has been a change in the use of your company cars) for benefits not payrolled sent to HMRC.

31

Give each employee who was employed by you a form P60.

Provide a letter to all employees with details of payrolled benefits.

July

5

Reach agreement with HMRC about the terms of any PAYE Settlement Agreement and the expenses covered for 2017/18.

6

Expenses and benefits forms P11D, P11D(b) submitted online to HMRC for benefits and expenses not payrolled such as living accommodation and beneficial loans. Give a copy of the relevant form to each employee.

6

Submit form P11D(b) for Class 1A NICs on benefits regardless of whether payrolled or reported on P11D.

6

Deadline for submitting employee share scheme annual returns for 2017/18.

19

Pay any Class 1A NICs on taxable benefits and taxed award schemes to HMRC for 2017/18 electronically.

31

Second instalment of your self-assessed tax payment for the tax year to 5 April, sent to HMRC.

31

Late filing/payment penalty deadline. You will pay another £300 or a surcharge of 5% of the tax due (whichever is higher) if you have still not filed and paid your 2016/17 income tax.

August

2

Form P46 (Car) relating to the first quarter ending 5 July (if there has been any change of use in your company cars) sent to HMRC for benefits not payrolled.

September

30

Reclaim VAT you spent on supplies from other EU countries, in the previous calendar year, from the relevant EU country's tax authority, unless you already do this as part of your regular VAT return.

October

5

Registration deadline if you have any income which is not fully taxed or any capital gains tax liabilities for the 2017/18 tax year.

19

Income tax and National Insurance due under a voluntary PAYE Settlement Agreement, paid to HMRC electronically.

31

Self-assessment tax return for the year ended 5 April to be sent to HMRC if you want to submit a paper return.

November

2

Form P46 (Car) relating to the quarter ending 5 October (if there has been any change in the use of your company cars), sent to HMRC for benefits not payrolled.

December

30


This is the last day to file your tax return online if you want HMRC to collect any underpayment automatically through your PAYE tax code.

January

31

Self-assessment tax return for year ending 5 April 2018, submitted online to HMRC.

You have to pay a penalty of £100 if you fail to send in a tax return by this date. Additional penalties are incurred after three months.

31

The first instalment of your self-assessment tax payment for the tax year ending 5 April and the balance of your self-assessment tax payment for the year ending 5 April, paid to HMRC.

31

If you have not filed your 2016/17 self-assessment tax return, you will incur a further penalty of 5% of the tax due or £300 (whichever is greater).

February

2

Form P46 (Car), relating to the quarter ending 5 January the previous year (if there has been any change in the use of your company cars), sent to HMRC for benefits not payrolled.

March

1

If you have not paid the balance of your 2017/18 self-assessment tax bill, you will incur a penalty of 5% of the tax unpaid as well as interest charges.

An additional surcharge of 5% will be payable on any balance still unpaid on 31 July, and a further 5% on 31 January.

If you would like advice or help with tax planning, contact Williams Denton on Bangor 01248 670370 or Llandudno 01492 877478.