Top

UK tax deadlines for individuals and partnerships

Download this table

Tax/other obligation

Deadline

Penalty

Income Tax return (self assessment)31 January following the end of the tax year for electronic returns.

31 October following the end of the tax year for paper returns.
Depends on how late:
  • Missed deadline: £100
  • 3 months: £10 a day
  • 6 months: 5% of tax due or £300 if greater
  • 12 months: 5% of tax due or £300 if greater
Income Tax payments31 January balancing payment for the previous tax year and first payment on account of the current year.

31 July second payment on account for the current tax year.
Depends on how late:
  • 30 days: 5% of tax due
  • 6 months: 5% of tax outstanding at that date
  • 12 months:5% of tax outstanding at that date
VAT (if registered) quarterly return and payment1 month and 7 days after quarter endSurcharges can apply if you don’t file (or pay in full) by the deadline more than once in a 12 month period.

Level of surcharge depends on turnover and number of failures, ranging from 2% to 15% of the VAT outstanding.
PAYE (if an employer) RTI returnOn or before payment made to an employeeIn year submissions:
  • Can be up to 3 days late without penalty
  • Special rules apply in numerous situations
Final submission:
  • £100 per 50 employees for each month.
PAYE payment19th of each month (if making manual/electronic payment) unless arranged for a quarterly or annual scheme

Class 1A NICs: 19th of July following the end of the tax year
Late monthly and quarterly payments:
  • 1% to 4% of late amount depending on how many more times a payment is made late
  • No penalty if only one payment is late in any tax year, unless more than six months late
  • Additional 5% if more than six months late
  • A further 5% if still not paid after 12 months
Annual payments (e.g. Class 1A NICs and PAYE Settlement Agreements):
  • Up to three penalties of 5% of the amount that is late, depending on the length of time that the amount is not paid in full
Tax credits renewal31 JulyIf deadline is missed:
  • Tax credits payments will stop
  • Have to repay any amounts received since 6 April

Who is usually required to submit a personal tax return?

Those who:

  • Are (or were) a company director*
  • Are (or were) self-employed
  • Earn an income from an overseas source, investment dividends or rental property
  • Receive other income that is not taxed at source – for example capital gains or dividends

*A director whose only income is taxed under PAYE, or has no taxable income at all and who has not received a notice to a file a tax return, is not required to report to HMRC or to register for self-assessment.

Personal tax returns

HMRC requires certain individuals to complete a Self Assessment tax return form every year.

This could be because:

  • You are, or were, a company director
  • You are, or were, self-employed

You earn an income from:

  • Overseas sources
  • Investment dividends
  • Rental property
  • You receive other income that is not taxed at source - for example capital gains or dividends

Inheritance planning

Inheritance planning is key if you are likely to have assets in excess of £325,000.

There is a potential tax liability if your estate - your assets at the time of your death - exceeds this amount, but there are ways to reduce or even eliminate the liability. The legislation is complex, making the right advice critical.

We offer:

  • A consultation with one of our experienced and regulated Financial Planners and Wealth Managers
  • A comprehensive Inheritance tax UK planning review
  • Specific tax advice and planning for you, and your partner, if applicable, to follow

Property tax

The purchase or sale of property in the UK is an important financial transaction. You must consider Capital Gains Tax (CGT) if you are selling your property.

When buying a property, you should be concerned with getting the best deal on your mortgage. In both cases, a review of your financial situation is recommended.

Our specialist UK mortgage advisors can provide you with advice on all the complicated tax aspects of buying, selling and letting property.

Get in touch

Fill in your details below and one of our consultants will be in touch as soon as they are able.

Get expert insights and important updates

GDPR regulations give you more rights about personal information and hold those that breach them to account, so we're all for it.

If at any point you would like to opt out of receiving communication from us, you can do so using the unsubscribe option. We promise to honour your request.

We are open for business. We are 100% operational and will continue to provide the same level of service. Feel free to reach out to us through phone, email or social media if you'd like to get in touch. We use cookies to provide the best website experience for you. Using this website means that you agree to this. How we use cookies