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Key Tax Filing Dates: July – December 2024
1 July 2024
Staying on top of tax deadlines is crucial for effective business management and compliance. Here’s a summary of essential dates and deadlines from July to December 2024 for various tax filings and payments to HMRC.
July 2024
- 1st July: Corporation Tax due for companies with September year-ends.
- 5th July: PAYE Settlement Agreement (PSA) deadline for 2023-24.
- 6th July: P11D, P11D(b), and Employment Related Security (ERS) Returns deadline.
- 7th July: Electronic VAT payments and returns due.
- 19th July: June PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd July: June PAYE and Class 1 NIC electronic payments due.
- 31st July: Self-Assessment second payment on account, Corporation Tax Returns for July year-ends, Tax Credits deadline, and several other deadlines for various returns and payments.
August 2024
- 1st August: Corporation Tax due for companies with October year-ends.
- 7th August: Electronic VAT payments and returns due.
- 19th August: July PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd August: July PAYE and Class 1 NIC electronic payments due.
- 31st August: Corporation Tax Returns for August year-ends due.
September 2024
- 1st September: Corporation Tax due for companies with November year-ends.
- 7th September: Electronic VAT payments and returns due.
- 19th September: August PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd September: August PAYE and Class 1 NIC electronic payments due.
- 30th September: Corporation Tax Returns for September year-ends due.
October 2024
- 1st October: Corporation Tax due for companies with December year-ends.
- 5th October: Deadline to register for Self-Assessment for 2023-24.
- 7th October: Electronic VAT payments and returns due.
- 19th October: September PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd October: September PAYE and Class 1 NIC electronic payments due.
- 31st October: Paper Self-Assessment tax returns for 2023-24, Corporation Tax Returns for October year-ends due.
November 2024
- 1st November: Corporation Tax due for companies with January year-ends.
- 7th November: Electronic VAT payments and returns due.
- 19th November: October PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd November: October PAYE and Class 1 NIC electronic payments due.
- 30th November: Corporation Tax Returns for November year-ends due.
December 2024
- 1st December: Corporation Tax due for companies with February year-ends.
- 7th December: Electronic VAT payments and returns due.
- 19th December: November PAYE and Class 1 NIC postal payments, CIS returns due.
- 22nd December: November PAYE and Class 1 NIC electronic payments due.
- 31st December: Self-Assessment online tax return deadline for those wanting HMRC to collect tax owed from wages and pensions, Corporation Tax Returns for December year-ends due.
Additional Key Deadlines
- 5th July: Non-resident landlords scheme annual information return.
- 14th July & 14th of Each Month: Corporation tax instalment payments due for various large and very large companies.
- 30th of Each Month: Returns and payments due by tenants and agents for rents to non-resident landlords.
Stay aware of these dates to ensure timely and accurate compliance with HMRC requirements.
Starting in early 2025, Companies House will begin rolling out new identity verification requirements for company directors and persons with significant control (PSCs). This means that, in the future, before filing information on the Companies House register, directors will need to prove their identity. This change is designed to reduce fraud and improve transparency. The reforms are part of the Economic Crime and Corporate Transparency Act 2023, which aims to combat fraudulent activity. As part of these reforms, accountancy firms and solicitors registered for anti-money laundering (AML) supervision will be among the first required to comply, starting in early 2025. By spring 2025, accountants and other professional service providers, who are registered for AML supervision, will be able to become authorised corporate service providers (ACSPs). This means they’ll be able to help clients verify their identities and pass that information on to Companies House. By autumn 2025, these new ID verification requirements will be mandatory for new directors and PSCs when setting up a company or making new appointments. If your business already exists, you will have a 12-month transition period until autumn 2026 to ensure your directors and PSCs comply with these requirements when your next confirmation statement is due. This is a significant change, therefore it’s important to stay ahead of these requirements to avoid any disruptions to your business.
S elling your used clothes or old furniture online? No need to worry about HMRC! With the rise of online marketplaces, many people are taking the opportunity to sell unwanted personal items, such as used clothes or old furniture. Recently, there have been some rumors circulating that HMRC is cracking down on people who sell in this way, potentially classifying these sales as a side hustle. However, we want to remind everyone that there has been no change in the tax rules for selling your personal possessions. Key Points to Remember: Selling personal items like used clothes, old furniture, or household goods does not constitute a business activity. HMRC does not tax individuals on the sale of personal items as long as they are not sold with the intent to make a profit or operate as a business. HMRC is not classifying casual sellers as "side hustlers". If you’re simply getting rid of unwanted items, you don’t need to worry about being taxed on these transactions. Business vs. Personal Sales: The distinction lies in whether you are trading goods regularly with the aim of making a profit. If you’re selling your possessions to declutter or for other personal reasons, this is not considered a business, and no tax is due. What Does Count as a Business? If you’re buying items specifically to sell them for a profit, running a store, or regularly selling in bulk on online platforms, then you may be classed as trading. In this case, income from these activities may be taxable, and it’s important to keep accurate records. But for most people just looking to sell their old clothes or used furniture, there’s no need to worry. HMRC is not clamping down on casual sellers, and you won’t be taxed on sales of personal possessions. Stay informed and make sure you understand the rules—but rest assured, nothing has changed when it comes to selling your own personal items online.
Tips to ensure your bookkeeping stays on track during the holiday period.
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Starting in early 2025, Companies House will begin rolling out new identity verification requirements for company directors and persons with significant control (PSCs). This means that, in the future, before filing information on the Companies House register, directors will need to prove their identity. This change is designed to reduce fraud and improve transparency. The reforms are part of the Economic Crime and Corporate Transparency Act 2023, which aims to combat fraudulent activity. As part of these reforms, accountancy firms and solicitors registered for anti-money laundering (AML) supervision will be among the first required to comply, starting in early 2025. By spring 2025, accountants and other professional service providers, who are registered for AML supervision, will be able to become authorised corporate service providers (ACSPs). This means they’ll be able to help clients verify their identities and pass that information on to Companies House. By autumn 2025, these new ID verification requirements will be mandatory for new directors and PSCs when setting up a company or making new appointments. If your business already exists, you will have a 12-month transition period until autumn 2026 to ensure your directors and PSCs comply with these requirements when your next confirmation statement is due. This is a significant change, therefore it’s important to stay ahead of these requirements to avoid any disruptions to your business.
S elling your used clothes or old furniture online? No need to worry about HMRC! With the rise of online marketplaces, many people are taking the opportunity to sell unwanted personal items, such as used clothes or old furniture. Recently, there have been some rumors circulating that HMRC is cracking down on people who sell in this way, potentially classifying these sales as a side hustle. However, we want to remind everyone that there has been no change in the tax rules for selling your personal possessions. Key Points to Remember: Selling personal items like used clothes, old furniture, or household goods does not constitute a business activity. HMRC does not tax individuals on the sale of personal items as long as they are not sold with the intent to make a profit or operate as a business. HMRC is not classifying casual sellers as "side hustlers". If you’re simply getting rid of unwanted items, you don’t need to worry about being taxed on these transactions. Business vs. Personal Sales: The distinction lies in whether you are trading goods regularly with the aim of making a profit. If you’re selling your possessions to declutter or for other personal reasons, this is not considered a business, and no tax is due. What Does Count as a Business? If you’re buying items specifically to sell them for a profit, running a store, or regularly selling in bulk on online platforms, then you may be classed as trading. In this case, income from these activities may be taxable, and it’s important to keep accurate records. But for most people just looking to sell their old clothes or used furniture, there’s no need to worry. HMRC is not clamping down on casual sellers, and you won’t be taxed on sales of personal possessions. Stay informed and make sure you understand the rules—but rest assured, nothing has changed when it comes to selling your own personal items online.
Tips to ensure your bookkeeping stays on track during the holiday period.