24 Jan 2022
For many, the beginning of a new year is a time for setting goals and getting organised. To help, we’ve put together a list of important tax-related dates to keep in mind throughout the year. Be sure to prepare for them in advance to avoid any unnecessary penalties.
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(NB: The list below is a guide and isn’t exhaustive. Check in with your accountant for an update of all the 2022 tax dates that apply to your business.) Source: AccountingWeb
Electronic income tax self assessment returns, and any paper returns or self assessment returns which are excluded from online filing, for 2020/21 must be filed by this date.
All outstanding self assessment income tax, and class 4 NIC, plus any capital gains tax for 2020/21 must be paid. Where notice to file was issued after 31 October 2021, the payable date is extended to three months after the date on which the notice to file was issued.
Where a first payment on account is required for the tax year 2021/22, the tax and class 4 NIC, if applicable, must reach HMRC.
Deadline to file an outstanding 2017/18 self assessment return to displace a determination.
Deadline to amend 2019/20 self assessment tax return.
Last day to provide final income figures for tax credits claims for 2020/21, if the renewal that was done by 31 July 2021 used an estimated figure.
Businesses within the IR35 rules must make any corrections to the 2020/21 RTI returns and pay any further PAYE and class 1 NIC due.
Individual taxpayers who have not paid their remaining tax and NI liabilities for 2019/20 by this date face a further 5% penalty, in addition to the 5% penalties suffered on amounts outstanding at 1 March 2021 and 1 August 2021.
Employers must submit Form P46 (Car) to report new cars provided during the quarter to 5 January 2022.
Last day for employees to apply for deferment of primary class 1 NIC for 2021/22.
Individual taxpayers who have not paid their tax and NI liabilities for 2020/21 by this date face a 5% penalty.
Reduced VAT rate of 12.5% on supplies of hospitality, holiday accommodation and attractions, reverts to the standard rate of 20%.
MTD for VAT: All VAT registered businesses must enter the MTD regime for VAT return periods starting on and after this date.
Last opportunity to utilise income tax personal allowances, annual ISA allowances and exemptions for CGT and IHT for 2021/22.
Last day to pay voluntary Class 2 or Class 3 NIC for 2015/16, or to claim exemption from Class 4 NIC for 2021/22 where earnings are also subject to class 1 NIC.
Final day for claims for 2017/18 relating to: personal allowances, remittance basis, terminal loss relief, overlap relief carry-forward of trading losses and capital losses.
Deadline to claim an asset of negligible value or loan to a trader became unrecoverable in 2019/20.
Employers to make a final RTI payroll report for 2021/22 using FPS or EPS.
Daily £10 late filing penalties start to apply to outstanding 2020/21 self assessment returns.
Payment of IHT on lifetime transfers between 6 April and 30 September 2021 is due by this date.
ATED returns and ATED relief declarations must be filed for 2022/23. The ATED charge must be paid for 2022/23. Deadline for amending ATED returns for 2021/22.
Employers must submit Form P46 (Car) to report new cars provided during the quarter to 5 April 2022.
Last day for a 2022/23 tax credits claim to be backdated to 6 April 2022.
Employers must provide a 2021/22 form P60 to employees who they employed at 5 April 2022.
FATCA returns due for the year to 31 December 2021.
Returns under the Crown Dependencies and Overseas Territories reporting rules due for the year to 31 December 2021.
PAYE Settlement Agreements (PSAs) for 2021/22 must be agreed with HMRC.
Letting agents acting for non-resident landlords must make a return of the rents paid to landlords and tax deducted in 2021/22 (form NRLY). If no letting agent is acting the tenant must make the return.
Employers to submit forms P11D and returns of Class 1A NICs (forms P11D(b)) to HMRC for 2021/22.
Employers must supply relevant employees with P11D information for 2021/22.
Annual returns for reporting events relating to all employee share schemes in 2021/22 must be submitted through ERS.
Employee share schemes put in place in 2021/22 must be registered by this date.
File report of termination payments and benefits where non-cash benefits are included in the package, where the total value of the settlement is £30,000 or more.
Directors and employees to make good cost of the following provided in 2021/22: cars, vans, road-fuel, non-cash vouchers, accommodation, credit token and benefits treated as earnings, to avoid being taxed on those items.
Where a close company has provided beneficial loans to a director, it must elect by this date for all loans to be treated as a single loan to calculate benefits in kind.
Return must be made of non-cash benefits provided in 2021/22 to retired employees under employer-financed retirement benefits scheme.
Employer non-electronic payments of Class 1A NICs for 2021/22 on benefits returned on a declaration of expenses and benefits (form P11D(b)) must reach HMRC. The due date is 22 July for payments made by an approved electronic payment method.
Second payment on account of self-assessed income tax and Class 4 NIC for 2021/22 due.
Tax credit claims for 2021/22 must be confirmed and renewed for 2022/23 if required.
Where a pension scheme annual allowance charge of over £2,000 is due for 2021/22 the pension scheme member must inform the scheme administrator if they want the scheme to pay that charge from their pension benefits.
Individual taxpayers who have not paid their remaining tax liabilities for 2020/21 face a further 5% penalty, in addition to the 5% penalty suffered on amounts outstanding at 1 March 2022.
Employers must submit Form P46 (Car) if appropriate to report new cars provided during the quarter to 5 July 2022.
If HMRC has not issued a notice to file a 2021/22 income tax self assessment return by now, the normal submission deadline of 31 October 2022 is extended to two months after the date on which the notice to file the tax return is issued.
Any person chargeable to income tax or CGT for 2021/22 who has not received a notice to file a self assessment return must notify HMRC of the need to declare income or gains by this date.
Pension administrators must provide scheme members with a savings statement if their pension inputs to the scheme in 2021/22 exceed the annual allowance.
Last day for a person to submit a US tax return for 2021 if they have obtained a filing extension.
Deadline for non-electronic payments of tax and NI due under PAYE settlement agreements (PSAs) for 2021/22 to reach HMRC Accounts Office. The due date is extended to 22 October 2022 for payments made by an approved electronic payment method.
Paper income tax self assessment returns for 2021/22 must be filed for individuals, trustees and partnerships which include one or more individuals if the taxpayer’s circumstances do not fall within one of the exclusions.
If HMRC has not already issued a notice to file a 2021/22 self assessment income tax return, the return must be filed within three months from the date of the notice, whether the return is electronic or paper.
Individuals submitting a paper self-assessment return for 2021/22 must do so by 31 October 2022 if they wish HMRC to collect the tax due through their future PAYE code.
Employers must submit Form P46 (Car) to report cars first provided during the quarter to 5 October 2022.
Last day for a person to submit an electronic self-assessment return for 2021/22 if they wish HMRC to collect the tax due through their future PAYE code where the taxpayer owes less than £3,000.