New Financial Year: 2021-2022 Tax and Accounting Calendar
With the new financial year now upon us, many businesses will be aiming to get their company and personal tax affairs in order, ensuring they are preparing for and aware of the various tax deadlines within the next financial calendar year.
In this tax calendar, we provide a breakdown of the most important tax deadlines for the coming 12 months, making sure you can effectively plan for the payments and administrative duties required of you and your business.
Jamie Williams, our Director and Tax Specialist here at Lime Advisory believes such a comprehensive calendar will not only help businesses to plan the many tax and accountancy-related tasks needed to be completed, but illustrate the need for a strong financial infrastructure and potentially the support of a professional accountant.
“When it comes to tax, business owners have hundreds of responsibilities that can be both strenuous and complex. This is why at Lime Advisory, we take the time to get to know the businesses we are working with and their financial objectives, putting together a robust accountancy plan that requires minimal effort from the client. With a sound knowledge of all tax deadlines and the requirements set out by HMRC, we can take all the stress away from businesses, allowing our clients to focus on scaling and growing their operations” he comments.
Tax Deadlines in April 2021
The month of April marks the end of one financial year and the beginning of another, meaning various tax tasks need to be signed off and completed with the HMRC. Below, we look at the most important tax deadlines for the first month of the tax year.
- 1st – On the 1st of April, payment will be due for Corporation Tax for the period up to the 30th June 2020.
- 5th – On April 5th, the 2020/2021 tax year officially ends
- 6th – On April 6th the 2021/2022 tax year officially begins!
- 6th – While not a deadline as such, the 6th April will see IR35 in the private sector come into play. The new IR35 rules will have a significant impact on contractors working through a Personal Service Company (PSC). This is as well as recruitment businesses, all medium and large private sector businesses and ALL organisations in the public sector. For more information on your IR35 requirements, please get in touch
- 7th - This is the VAT deadline for the quarter ending February 2021
- 19th – This is the deadline for employers’ final PAYE return to be submitted online for 2020/2021
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 30th – By the 30th, Corporation Tax returns need to be filed by companies that have the 30th April 2020 as their year end
Tax Deadlines in May 2021
There are numerous tax deadlines and significant accountancy dates in May. Below are just a few that businesses need to be aware of:
- 1st – The 1st of May marks the due date for payment of Corporation Tax for the period ending on the 31st July 2020.
- 3rd – Businesses must submit P46 for employees if their car and fuel benefits were altered in the previous quarter. This submission must be made by the 3rd May in order for accurate tax calculations to be made
- 7th – The 7th May is the deadline for VAT Returns and payments for the Accounting Quarter period ending on the 31st March 2021
- 14th – This is the due date for Corporation Tax quarterly instalment for large companies with February, May, August or November as their year end date
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – Business with the 31st May 2020 as their year end must have their Corporation Tax Returns filed by the 31st
- 31st - This is the deadline for P60s for 2020/21 to be issued to the business’ employees
Tax Deadlines for June 2022
For businesses eager to get a strong handle on their company and personal tax requirements, the below dates for June are worth taking note of.
- 1st – On the 1st June, HMRC will announce advisory fuel rates (AFR) for company car users. This will help businesses to calculate and potentially reimburse employees for business travel in their company cars
- 1st – The 1st June will be the due date for payment of Corporation Tax for the period ending on the 31st August 2020
- 7th – The 7th is the deadline for VAT Returns and payments of the Accounting Quarter period ending on the 30th April 2021
- 14th – This is the due date for Corporation Tax quarterly instalment for large companies with March, June, September or December as their year ends
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 30th – Companies with the 30th June 2020 as their year end will need to have their Corporation Tax Returns filed by this date
Tax Deadlines for July 2021
The notable tax deadlines and submission dates for July are as follows:
- 1st – The 1st July is the date in which payment of Corporation Tax for the period ending on the 30th September 2020 is due
- 5th – This is the deadline for reaching PAYE Settlement Agreement for 2020/21. The is one annual payment that covers all the tax and National Insurance due on minor, irregular or impracticable expenses or benefits for employees
- 6th – The 6th of the month is the deadline for forms P11D and P11D(b). These declare the amounts of Class 1A National Insurance contributions you're due to pay for the year
- 6th – The 6th is also the deadline for employers to report share incentives for the year
- 7th – The 7th is when VAT Returns and payments of the Accounting Quarter period ending on 31st May 2021 are due
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – On the 31st, a second Self Assessment Payment on Account 2020/21 will be due
- 31st – Corporation Tax Returns will need to be filed by companies with 31st July 2020 as their year end
Tax Deadlines for August 2021
Filing deadlines, payment deadlines and actions for the month of August include:
- 1st – The 1st of the month is the due date for payment of Corporation Tax for the period ending on the 31st October 2020
- 3rd – This is the deadline for submitting P46 for employees whose car and fuel benefits changed during the quarter that ran until the 5th July 2021
- 7th – The 7th is the deadline for VAT Returns and payments of the Accounting Quarter period ending 30th June 2021
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – Corporation Tax Returns must be filed by companies with 31st August 2020 as year end date by the 31st of August.
Tax Deadlines for September 2021
While summer is coming to an end, the tax duties continue long past August. If you are looking to get your company finances in order in September, it is essential that you are aware of the below dates:
- 1st – On the 1st of September, the Government will announce new Advisory Fuel Rates (AFR) for company car users. These are recommended rates for reimbursing employees' fuel costs while driving a company car for work purposes
- 1st – The 1st is also the due date for payment of Corporation Tax for the period ending on the 30th November 2020
- 7th – The 7th is the deadline for VAT Returns and payments of the Accounting Quarter period ending 31st July 2021
- 14th – This is the due date for Corporation Tax quarterly instalment for large companies with the year end 31st March 2022
- 19th – The 19th is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – The 22nd is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 30th – Corporation Tax Returns by companies with the 30th September 2020 as year end need to be filed by this date
Tax Deadlines for October 2021
October is another busy month for those looking to stay on top of their finances. If you are in charge of finance at your firm or are self-employed, it is important that you have a record of the below dates and their associated tasks:
- 1st – The 1st of the month marks the date for payment of Corporation Tax for the period ending on 31st December 2020
- 5th – The 5th is the deadline for Self Assessment registration. This notifies the HMRC of Income/Capital Gains Tax for 2020/2021
- 7th – This is the deadline for VAT returns and payments of the Accounting Quarter period ending on 31st August 2021
- 14th – The 14th is the Income Tax due date for CT61 period to 30 September 2021
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – Businesses need to file Corporation Tax Returns if 31st October 2020 is classed as the company’s year end
- 31st – The 31st is the deadline for postal submission of Self Assessment Tax Returns for the tax year ending on the 5th April 2021.
Tax Deadlines for November 2021
November is a pretty straightforward month when it comes to tax requirements, with no payment or tasks outside the usual required from businesses.
- 1st – The 1st of the month is the due date for payment of Corporation Tax for the period ending on the 31st January 2021
- 2nd – This is the deadline for submitting P46 (Car) for the quarter ending 5th October 2021
- 7th – The 7th is the deadline for VAT Returns and payments of the Accounting Quarter period ending 30th September 2021.
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 30th – Companies with the 30th November 2020 as their year end will need to file their Corporation Tax Return by the end of November.
Tax Deadlines for December 2021
For many businesses, December is a hugely busy month. With many employees taking time off for the festive period, companies can be rather stretched in the last month of the year. For this reason, the last thing needed is a surprise tax bill or form that needs filing. Below, we list the most significant tax requirements for December.
- 1st – HMRC will announce advisory fuel rates (AFR) for company car users. This will help businesses to calculate and potentially reimburse employees
- 1st – This is the due date for payment of Corporation Tax for the period ending on the 28th February 2021
- 7th – This is the deadline for VAT Returns and payments of the Accounting Quarter period ending on the 31st October 2021
- 14th – The 14th is the due date for Corporation Tax quarterly instalment for large companies with a year end of 31st March 2022.
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – On the 31st companies with 31st December 2020 as their year end will need to file their Corporation Tax return. On this date, Limited Companies with 31st March 2020 as their year end will need to file company accounts with Companies House.
Tax Deadlines for January 2022
While the month of January will not mark a new tax year for most, it is nonetheless the month that most businesses decide to get their tax affairs in order, coming back from the Christmas break with a mission to create financial clarity within their business. Here are some important tax dates to be aware of that fall into the month of January.
- 1st – The 1st is the due date for payment of Corporation Tax for the period ending on 31st March 2021
- 7th – The 7th is the deadline for VAT Returns and payments of the Accounting Quarter period ending on 30th November 2021
- 14th – This is the Income Tax due date for CT61 period to the 31st December 2021
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – The 31st is the deadline for filing Self Assessment Tax Returns for the tax year ending on 5th April 2021 and 2020/2021 Capital Gains Tax
- 31st – Balancing payment of tax due for 2019-2020 and first Payment on Account for Income Tax for 2021/2022 will be required by the 31st.
- 31st – This is the due date to file Corporation Tax for companies with 31st January 2021 as their year end
Tax Deadlines for February 2022
Below, we list vital tax deadlines for February.
- 1st – The 1st is the due date for payment of Corporation Tax for the period ending on the 30th April 2021
- 2nd – The 2nd marks the deadline for submitting P46 (Car) for the quarter ending on the 5th January 2022
- 7th – The 7th February is the deadline for VAT Returns and payments of Accounting Quarter period ending on the 31st December 2021
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 28th – The 28th is the due date to file Corporation Tax for companies with the 28th February 2021 as their year end
Tax Deadlines for March 2022
As we come to the last month of the financial year, it is important that all businesses are not only up to date with tasks required of them over the past 11 months but the final administrative tasks and payments that run throughout March. These comprise the following:
- 1st – HMRC will announce advisory fuel rates (AFR) for company car users. This will help businesses to calculate and potentially reimburse employees
- 1st – The 1st is the due date for payment of Corporation Tax for the period ending on the 31st May 2021
- 7th – This is the deadline for VAT Returns and payments of the Accounting Quarter period ending on the 31st January 2022
- 14th – The 14th marks the due date for Corporation Tax quarterly instalment for large companies with their year end as 31st March 2022 and 31st December 2022
- 19th – This is the monthly deadline for postal payments of CIS, NICs and PAYE to HMRC
- 22nd – This is the monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
- 31st – Corporation Tax Returns will need to be filed by companies with 31st March 2021 as year end by this date.
Looking for an Accountant to Help Manage Your Finances?
If the above calendar has only made the thought of managing your own accounts more daunting, we at Lime Advisory would be happy to discuss our many accountancy solutions with you.
Contact a member of our team today for an informal chat about your company and personal tax requirements.
