There are many key dates & deadlines throughout the accountancy year for both Self-assessment and Company accounts, with each bearing their own penalties it is important to plan ahead to avoid any fines.
below is a brief guide to what you can expect
Payment Dates 2019 – 20
- 1st payment on account 31st January 2019
- 2nd payment on account 31st July 2019
- Balancing payment 31st January 2020
- Capital Gains Tax 31st January 2020
- Class 1A NICs 19th July
- Corporation Tax 9 months and one day after the end of accounting period
Returns and Filing Deadlines
- 31st January Self-assessment tax return online
- 31st May Copies of P60’S issued to employees
- 6th July Copies of P11d issued to employees
- VAT month end plus 1 month and 7 days after VAT period
- CT600 12 months after the end of accounting period
- Limited Company first accounts To be filed with Companies House 21 months after the date registered with Companies House
- Limited Company annual accounts 9 months after company’s financial year end
- PAYE RTI Every time an employee is paid
- CIS 19TH every month
Penalties
- Late filing of a Self-assessment tax return is subject to £100 fine.
- Self-assessment tax return late payments will be subject to a 5% surcharge if not paid by 28th February.
- Late VAT returns incur a staged fine 1st late return 0% rising to 15% for subsequent defaults.
- Late filing of CT600 incurs £100 fine increasing with time.
- Late filing of Limited Company accounts £150 fine increasing to £375 if more than 3 months late, £750 if 6 months late, and £1500 if 12 months late.
- Late filing of P11D a penalty of £100 per month issued for every 50 employees.
- CIS £100 per month overdue
This is a general guide only, if you have any questions regarding key dates & deadlines specific to your company please contact AJR & Co Ltd.
