Making time to manage your taxes isn’t always easy. Our short guide provides you with all of the information you need about tax returns, as well as the key dates for the year.
When does the new tax year start?
The tax year runs from 6th April to 5th April the following year. Your accounts all need to be calculated according to these dates.
When do I need to file my tax return?
There are two ways to submit tax returns: by paper or online via the HMRC website.
Paper returns will need to be completed and returned to HMRC by October 31st. The deadline for completing returns online is 31st January. This is also the deadline for paying the tax you owe. Failure to submit your returns in time could result in a hefty fine, so it’s important not to miss the deadline.
Key tax dates for 2025 I need to remember
Self-employed life is busy as it is, the last thing you need is the stress of remembering several deadlines too. We’ve simplified things by creating a concise list of some of the key taxes that should be on your radar. Here are some important dates to scribble in your diary:
Self Assessment Tax Returns:
- 31 January 2025: Deadline for submitting online tax returns for the 2023-2024 tax year and paying any tax owed.
- 5 October 2025: Deadline to register for Self Assessment if you’re required to file a tax return for the 2024-2025 tax year.
- 31 October 2025: Deadline for submitting paper tax returns for the 2024-2025 tax year.
- 31 January 2026: Deadline for submitting online tax returns for the 2024-2025 tax year and paying any tax owed.
Payments on Account:
- 31 January 2025: First payment on account due for the 2024-2025 tax year.
- 31 July 2025: Second payment on account due for the 2024-2025 tax year.
Corporation Tax:
- Within 9 months and 1 day after the end of your company’s accounting period: Payment of Corporation Tax is due. For example, if your accounting period ends on 31 March 2025, the payment is due by 1 January 2026.
- 12 months after the end of your company’s accounting period: Deadline for filing Corporation Tax returns. For an accounting period ending on 31 March 2025, the return is due by 31 March 2026.
Value Added Tax (VAT):
- Quarterly VAT Return Deadlines:
- 7 February 2025: For the quarter ending 31 December 2024.
- 7 May 2025: For the quarter ending 31 March 2025.
- 7 August 2025: For the quarter ending 30 June 2025.
- 7 November 2025: For the quarter ending 30 September 2025.
Pay As You Earn (PAYE) and National Insurance Contributions (NICs):
- Monthly Deadlines:
- 19th of each month: Deadline for postal payments to reach HMRC.
- 22nd of each month: Deadline for electronic payments to clear.
Construction Industry Scheme (CIS):
- Monthly Deadlines:
- 19th of each month: Deadline for submitting CIS returns for the previous tax month.
- 22nd of each month: Deadline for electronic payments to clear.
How can Brian Alfred help?
Here at Brian Alfred, we’re always on hand to help you with all of your account and tax needs. Our dedicated team of specialists are here to answer all of your questions and provide all of the information you need. Just visit our contact page or give us a call on 0800 470 1090.
