Education

Key tax dates and deadlines for 2021

3 Feb 2021

With so much going on at the moment, key tax dates and deadlines might be the last thing on your mind. So, to help you stay organised, we’ve compiled a list of important dates to be aware of when it comes to keeping on top of your accounting duties.

pen and diary

Some important dates, including the self-assessment and VAT tax return deadlines, involve a lot of preparation. Make sure you’re aware of when these dates fall ahead of time for peace of mind and to avoid any unnecessary penalties. 

If you’re looking for business finance to fund a tax or VAT bill, Funding Options can help – check out our handy guide to financing tax to find out more.

Dates for your diary include:

January 2021

1st - Corporation Tax payment due for period ending 31 March 2020.

7th - VAT Returns and payments of Accounting Quarter deadline for period ending 30 November 2020.

14th - Income Tax deadline for CT61 period to 31 December 2020.

19th - Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC.

22nd - Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC.

31st - Deadline for 2019/2020 Capital Gains Tax and Self Assessment Tax Returns for the tax year ending 5 April 2020. 31 Jan is also the deadline for payment of tax due for 2019-2020, as well as the first Payment on Account for Income Tax for 2020/2021. 

UPDATE: Anyone who is able to file their tax return and pay by 31 Jan are being urged to do so. However, HMRC is not issuing late filing penalties up to 28 February to help taxpayers and agents who are struggling to meet the deadline due to Covid-19.

February 2021

1st - Payment of Corporation Tax for the period ending 30th April 2020 is due.

2nd - Deadline for submitting P46 (Car) for the quarter ending 5 January 2021.

7th - VAT Returns and payments of Accounting Quarter deadline for period ending 31 December 2020.

19th - Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC.

22nd - Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC.

March 2021

1st - New Advisory Fuel Rates (AFR) for company car users.

1st - Payment of Corporation Tax for the period ending 31st May 2020 is due.

1st - Domestic Reserve Charge for VAT on construction and building services is implemented.

7th - Deadline for VAT Returns and payments of Accounting Quarter period ending 31st January 2021.

14th - Due date for Corporation Tax quarterly instalment for large companies with year end 31 March 2021 and 31 December 2021.

19th - Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC.

22nd - Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC.

31st - Corporation Tax Returns filed by companies 31 March 2020 year end.

April 2021

5th - End of the 2020/2021 tax year.

6th - Beginning of the 2021/2022 tax year. 

6th - IR35 in the private sector is implemented. 

May 2021

31st - Deadline to give employees a P60 for 2020/21.

July 2021 

6th - Copies of 2020/21 P11d documents issued to employees.

 31st - Deadline for the second payment on account for tax year ending 5 April 2021.

October 2021

5th - Deadline to register with the HMRC if you became self-employed or started receiving income from property during the 2020/21 tax year. 

31st - Deadline for paper self-assessment returns for 2020/21 tax year.

December 2021 

30th - Deadline for online submission of self-assessment tax returns for the year ending 5 April 2020. (If you want HMRC to collect tax through your tax code where you owe less than £3,000, and you already paid tax via PAYE.)

Sources:


Navigating business tax and accountancy can be challenging at the best of times. 

It’s important to bear in mind that although the above list contains many of the key dates, it’s by no means a definitive list. A qualified accountant can provide professional advice and help you manage your business’ finances, including business tax and financial acquisitions.

If you’re one of the thousands of individuals who are in the process of starting a business, you might find our checklist on registering as a limited company a useful starting point.

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