The tax calendar for the year 2019-20 charts out the important dates for paying taxes so that no one misses out on this essential responsibility. In order to avoid fines and penalties, this calendar which has been released by the HMRC must be closely followed so that deadlines are not missed and unnecessary extra payments can be avoided. It has systematically laid down the pivotal dates for required transactions making it a smooth road for all taxpayers this financial year.
The tax calendar covers the below mentioned timelines :
July 2019
- Deadline for PAYE settlement agreement for 2018/19
- Deadline for 2018/19 forms P11Db, PIID and P9D should be submitted and copies of P11D and P9D should be issued to relevant employees
- Deadline for employees to report share incentives for 2018/19 form 42
- Return and payment of CT61tax due for quarter to 30 June 2019
- PAYE/NIC, student loan and CIS deductions due for month to 5/7/2019 or quarter 1 of 2019/20 for small employers Class 1A NIC due in respect of the tax year 2018/19
- Second self-assessment payment on account due for 2018/19
- Second 5% penalty surcharge on any 2017/18 outstanding tax due on January 31st 2019 still unpaid
- Deadline for tax credits to finalise claims for 2018/19 and renew claims for 2019/20
- Half yearly Class 2 NIC payment due
- Penalty of 5% tax due or 300 pounds whichever is greater for 2017/18 personal tax returns still not filed
August 2019
- Last day for car change notifications in the quarter to July 5- Use P46 Car
- PAYE/NIC, student loan and CIS deductions due for month to 5/8/2019
September 2019
- PAYE/NIC, student loan and CIS deductions due for month to 5/9/2019
- Closing date to claim Small Business Rate Relief for 2018/19 in England
October 2019
- Due date for payment of Corporation Tax for the year ended December 31st 2018
- If a Tax Return has not been received, individuals and trustees must inform HMRC of new sources of income and chargeability in 2018/19
- Return and payment of CT61 tax due for quarter to 30 September 2019
- Tax and Class 18 national insurance due on PAYE settlements for 2018/19
- PAYE/NIC, student loans and CIS deductions due for month to 5/10/2019 or quarter 2 of 2019/20 for small employers
- Deadline for 2018/19 self- assessment paper returns to be filed for HMRC to do the tax calculation. If a paper return is to be filed, also the deadline for tax underpaid is to be collected by the adjustment to your 2020/21 PAYE code (for underpayments of up to 3000 pounds only)
November 2019
- Last day for car change notification in the quarter to 5 October- Use P46 Car
- PAYE/NIC, student loan and CIS deductions due for month to 5/12/2019
December 2019
- PAYE/NIC, student loan and NIC deductions due for month to 5/12/2019
An important point to remember is that Deadline for 2018/19 self-assessment online returns is to be filed if you are an employee and want tax underpaid to be collected by adjustment to your 2020/21 PAYE code (for underpayments for up to 3000 pounds only).
