Understanding the critical UK tax year dates is essential for both PAYE (Pay As You Earn) employees and those who are self-assessed. The UK tax year runs from 6th April to 5th April the following year. For PAYE, the key date is 19th May, by which employers must submit the final Full Payment Submission (FPS) of the tax year to HMRC. This is also the deadline for issuing P60s to employees, summarizing their pay and deductions for the year. For those who are self-assessed, the most critical dates are 31st January and 31st July. The 31st January is the deadline for submitting your online tax return and paying any tax owed for the previous tax year, as well as the first payment on account for the current tax year. The 31st July is the deadline for making the second payment on account, which is an advance payment towards your tax bill for the current tax year. Missing these deadlines can result in penalties and interest, making it crucial to keep these dates in mind.
PAYE Critical Tax Dates
| Date | Key Information |
|---|---|
| 5th April 2024 | End of tax year 2023 / 24 |
| 6th April 2024 | First day of the new tax year 2024 / 2025 |
| 5th April 2024 | Deadline for claiming your PAYE tax refund for the 2019 / 2020 tax year |
| 31st May 2024 | Copies of 2023 / 2024 P60 documents issued to employees |
| 6th July 2024 | Copies of 2023 / 2024 P11d documents issued to employees |
Self-Assessed Critical Tax Dates
| Date | Key Information |
|---|---|
| 31st January 2024 |
|
| 5th April 2024 | Last day of 2023 / 2024 tax year. Also the deadline for claiming tax overpaid for the 2019 / 2020 tax year under self-assessment. |
| 6th April 2024 |
|
| 31st May 2024 | Last date to give employees a P60 form for 2023 / 2024. |
| 6th July 2024 | Copies of 2023 / 2024 P11d documents issued to employees |
| 31st July 2024 | Deadline for 2nd payment on account for the tax year ending 5th April 2024. |
| 5th October 2024 | Deadline to register with the HMRC if you became self-employed or started receiving income from property during the 2023 / 2024 tax year. |
| 31st October 2024 | Deadline for paper self-assessment returns for the 2023 / 2024 tax year. You have until midnight on the 31st October. |
| 30th December 2024 | Deadline for online submission of self-assessment tax returns for the year ending 5th April 2023 is crucial if you want HMRC to collect any tax owed through your tax code. This option is available if you owe less than £3,000 and have already paid tax through the PAYE system. |
| 31st January 2024 | Online self-assessment tax returns for 2023 / 2024 tax year must be submitted by this date.
Do you need help completing your self-assessed tax return? Contact Beata Beck Accountacy Services now. |
