Key dates and deadlines to note

Article by Bishop Fleming.

Bishop Fleming is a partner for Growth Forge 2024, a business acceleration programme for ambitious tech companies. Learn more here.

A round up of the evolving key deadlines and dates and other important dates.

The Spring Budget 2024 was on 6 March 2024 and General Election is on 4 July 2024.

2024Deadline
Jun 1Multiple dwelling relief within SDLT regime abolished
Jun 4Exporters have to move to the Customs Declaration Service by this date.
Jul 1Recovery Loan scheme becomes the Growth Guarantee Scheme
Jul 4General Election
Jul 5Deadline for PAYE Settlement Agreements for 2023/2024
Jul 6Deadline for submission of forms P11D for 2023/2024
Jul 6Deadline for reporting termination payments and benefits where a cash and benefits package exceeded £30,000 in 2023/24
Jul 17King’s Speech (new Parliament after general election)
Jul 19Class 1A NIC due for 2023/24 paid non electronically
Jul 22Class 1A NIC due for 2023/24 paid electronically
Jul 31Second Payment on Account due for Income Tax
Jul 31Recovery Loan Scheme ends. But it will be extended and renamed as the Growth Guarantee Scheme
Sep xxAutumn Budget of new government.
Oct 1It becomes illegal for employers to withhold tips from staff
Oct 1Monetary thresholds (e.g. turnover) that determine company size are being raised by 50% from 1 October.
Oct 31Deadline for submitting a paper Self-Assessment tax return
Dec 31Submit online personal tax return for 2023–24 if taxpayer wants HMRC to collect tax underpayment (below £3,000) through PAYE coding
2025 
Jan 23Latest day for a UK general election (Dissolution and Calling of Parliament Act 2022, section 4)  (See also the General Election timetable from the House of Commons Library)
Jan 31Deadline to pay and submit Self-Assessment Tax Returns for tax year ending 5 April 2024 (personal, trustee & partnership).
Jan 31First Payment on Account for Income Tax due for 2024/2025
Feb 1Interest starts to accrue on any unpaid self-assessment tax liability due for 2022/23
Mar 31Last day of temporary reduction in Stamp Duty land Tax for the purchase of residential property in England. (Stamp Duty Land Tax (Temporary Relief) Act 2023).
Mar 3175% business rate discount for retail, hospitality, and leisure ends.
Apr 1Financial Year 2025 begins
Apr 1New rates for National Living Wage
Apr 5Last day of the tax year to utilise any tax allowances
Apr 5Deadline for paying voluntary NICs
Apr 6New tax year 2025/26 begins
Apr 6Furnished holiday letting tax regime abolished.
Apr 6Shareholders in Owner Managed Businesses will be required to provide:Amount of Dividend income received from their company (separate from other dividend income).Percentage shareholding in the close company.Confirmation that they were a company director of a close company during the tax year.
Apr 6Non-domicile rules replaced with a new regime based on residence
Jun 30Mortgage Guarantee Scheme ends
2026 
April 6Making Tax Digital for Income Tax Self Assessment begins
Apr 6Payrolling benefits in kind. The government will mandate the reporting and paying of Income Tax and Class 1A NICs on benefits in kind via payroll software from April 2026.
2027 & beyondMaking Tax Digital for partnerships and companies – dates to be provided.
 The UK is to implement a new import carbon pricing mechanism by 2027 to support the decarbonisation drive.
 … More dates to follow …

Repeating deadlines

There are some ongoing deadlines of which individuals and businesses need to be aware.

Companies 
12 months after company’s year-endCorporation Tax and statutory accounts filing date with HMRC
9 months and 1 day after company’s yearendDue date for payment of any corporation tax liability
All businesses – monthly/quarterly 
7th of the monthVAT returns and payment due
14th of the monthCorporation tax quarterly instalment due
19th of the monthDue date for CIS, PAYE and NICs, if paying by cheque
22nd of the monthDue date for CIS, PAYE and NICs, if paying electronically
Individuals 
Within 60 days of completion of conveyanceReport and pay any CGT on the disposal of Uk property by a non-UK resident

If you would like to discuss how these deadlines may impact on you or your business, please contact your usual Bishop Fleming advisor.

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