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Key
Dates & Deadlines 2007-08
Income
Tax Payments, Self-Assessment Returns, PAYE, Surcharges & Penalties
Annual
Diary
Reminders
for your Autumn Diary
September
30 Deadline for submission of the 2007 Tax Return if you
wish HMRC to calculate the tax or, if you wish to have a 2006/07
balancing payment of less than £2,000 collected through
your 2008/09 PAYE code.
End of CT61 quarterly period.
October
1 Due date for payment of Corporation Tax for period ended
31 December 2006.
5 Individuals/trustees must notify HMRC of new sources
of income/chargeability in 2006/07 if a Tax Return has
not been received.
14 Due date for income tax for the CT61 quarter to 30 September
2007.
19/22 Quarter 2 2007/08 PAYE remittance due.
November
1 Please ensure you are retaining your documents for the
2008 Tax Return.
2 Last day for notifying car changes in quarter to 5 October
- P46 (Car).
Tax Diary September/October 2007
19
September 2007 - PAYE and NIC deductions due for month ending
5 September 2007. (If you pay your tax electronically the due
date is 22 September 2007)
19 September 2007 - Filing deadline for the CIS300 monthly
return for the month ending 5 September 2007.
19 September 2007 - CIS tax deducted for the month ending 5 September
2007 is payable by today.
1 October 2007 - Due date for corporation tax due for the
year ended 31 December 2006.
19 October 2007 - PAYE and NIC deductions due for month
ended 5 October 2007. (If you pay your tax electronically the
due date is 22 October 2007)
19 October 2007 - Filing deadline for the CIS300 monthly
return for the month ended 5 October 2007.
19 October 2007 - CIS tax deducted for the month ended 5 October
2007 is payable by today.
PAYE (Pay As You Earn) Filing/Issuing Deadlines:
19th
May P14, P35, P38, P38A & CIS36
31st May Issue P60s to employees*
6th July P9D, P11D,& P11D(b), and appropriate copies
to employees
19th July Payment due on Class 1A NICs
*Only
relevant to Employers
Self Assessment Returns:
6th
April Issued by the Inland Revenue
30th September Inland Revenue will calculate tax liability
if SA Return has been received by then.
31st January Latest date for submission
VAT
Payments
Most
people pay their VAT quarterly, although you can pay monthly
if you so desire. If your first quarter is January - March,
for example, your VAT payment is due on or before 30th April;
so you have a month from the end of you quarter in which to
pay.
If, however, you file your VAT Returns online with Her Majesty's
Revenue & Customs (HMRC), you get an extra 7 days to both
submit and pay your return.
We
would need your authority, as your accountant, to complete this
process for you.
If
this is something you would like further information on, or
would like to set up, please contact
us or have a look at the HMRC
website.
Payments of Income Tax/Class 4 NICs
31st
January balancing payment and 1st payment on account
31st July 2nd payment on account
9
months and one day after the end of the accounting period (or
by quarterly installments if large company)
Surcharges (on amounts outstanding):
28th
February 5% on unpaid at that date
31st July Further 5% on amount unpaid at that date
Penalties for late Self Assessment Returns:
Usually
£100, or the amount of the liability if less.
31st
January where returns are outstanding at that date
31st July Further penalty if still outstanding
For
advice on the above information and any updated rates please refer
to the office or News Page.
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