The red text indicates an entry relevant to companies and employers, black refers to personal tax, and bold indicates an important item.
Click on an item to find out more detail of how it may affect you.
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December 2016
Thursday 1 Advisory Fuel Rates
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Monday 19 PAYE, Student loan and CIS deductions are due for the month to 5th December 2016
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 December 2016. In year interest will be charged if payment is made late. Penalties also apply.
Friday 30 Online filing deadline for submitting 2015/16 self assessment return if you require HMRC to collect any underpaid tax by making an adjustment to your 2017/18 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 2017/18.
If we are already dealing with this matter on your behalf you need take no action.
January 2017
Thursday 19 PAYE, Student loan and CIS deductions are due for the month to 5th January 2017
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 January 2017 unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd January. In year interest will be charged if payment is made late. Penalties also apply.
Thursday 19 PAYE quarterly payments are due for small employers for the pay periods 6th October 2016 to 5th January 2017
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 Friday 20th January 2017 unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd January. In year interest will be charged if payment is made late. Penalties also apply.
Tuesday 31 Deadline for submitting your 2015/16 self assessment return (£100 automatic penalty if your return is late) and the balance of your 2015/16 liability together with the first payment on account for 2016/17 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 2016 is due for payment by 31st January 2017. Where the payment is made late interest will be charged.
The first payment on account for 2016/17 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2017.
If we have already dealt with your self assessment return on your behalf you need take no action.
February 2017
Thursday 2 Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th January 2017
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 paper or online form.
Where one car is merely replaced with another, this can be notified online.
Sunday 19 PAYE, Student loan and CIS deductions are due for the month to 5th February 2017
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 February 2017. In year interest will be charged if payment is made late. Penalties also apply.
March 2017
Wednesday 1 Advisory Fuel Rates
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Thursday 2 5% late payment penalty on any 2015/16 outstanding tax which was due on 31st January 2017 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, Classses 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 2016 was due for payment by 31st January 2017. Where the payment is made late interest will be charged. On 2 March 2017 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.
Sunday 19 PAYE, Student loan and CIS deductions are due for the month to 5th March 2017
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 March 2017. In year interest will be charged if payment is made late. Penalties also apply.
Friday 31 Last minute planning for tax year 2016/17
The final deadline of 5th April 2017 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 2016/17.
Please do get in touch if you would like any further advice on these or any other issues.