The UK Tax Year
The UK tax year runs from 6 April to 5 April the following year. This applies to income tax, capital gains tax, and National Insurance contributions for individuals and sole traders.
Companies operate on their own accounting periods for corporation tax purposes, which do not have to align with the tax year.
Self-Assessment Key Dates
These deadlines apply to individuals, sole traders, and partners who file a self-assessment tax return.
| Date | Deadline |
|---|---|
| 5 April | End of the tax year |
| 6 April | Start of the new tax year |
| 31 May | Employers issue P60s to employees |
| 6 July | Employers submit P11D forms (benefits in kind) |
| 31 July | Second payment on account due for the previous tax year |
| 5 October | Deadline to register for self-assessment if newly self-employed or have untaxed income |
| 31 October | Deadline for paper self-assessment tax returns |
| 30 December | Deadline for online filing if you want HMRC to collect tax owed (under £3,000) through your tax code |
| 31 January | Online self-assessment filing deadline; balancing payment due; first payment on account due for the current tax year |
| Early March (30 days after 31 January) | 5% late payment penalty if tax due on 31 January is still unpaid |
Payments on Account
If your self-assessment tax bill exceeds £1,000 and less than 80% of your tax is collected at source, HMRC requires two payments on account:
- First payment — 31 January (during the tax year)
- Second payment — 31 July (after the tax year ends)
Each payment is 50% of the previous year’s tax bill. A balancing payment is due on 31 January following the end of the tax year.
Corporation Tax Dates
Companies pay corporation tax based on their own accounting period. For detailed payment schedules, see the guide on corporation tax payment dates.
| Deadline | What is due |
|---|---|
| 9 months and 1 day after the end of the accounting period | Corporation tax payment due (for most companies) |
| 12 months after the end of the accounting period | Company tax return (CT600) filing deadline |
| Quarterly instalments (for large and very large companies) | 14th of months 7, 10, 13, and 16 of the accounting period |
Large Company Instalment Dates
Companies with taxable profits over £1.5 million (divided by the number of associated companies) must pay corporation tax in four quarterly instalments rather than as a single payment.
PAYE and National Insurance Dates
Employers running a payroll must meet these deadlines:
| Date | Deadline |
|---|---|
| On or before each pay date | Submit Full Payment Submission (FPS) to HMRC via RTI |
| 19th of each month (or 22nd if paying electronically) | Monthly PAYE, NI, and student loan payments due to HMRC |
| 19 April (or 22 April electronic) | Final PAYE payment for the tax year |
| 31 May | Issue P60s to all employees |
| 6 July | Submit P11D and P11D(b) forms for benefits in kind |
| 19 July (or 22 July electronic) | Pay Class 1A NI on benefits in kind |
VAT Dates
VAT return and payment deadlines depend on your accounting period, which is typically quarterly but can be monthly or annual.
| Filing frequency | Return and payment due |
|---|---|
| Quarterly | 1 month and 7 days after the end of each VAT quarter |
| Monthly | 1 month and 7 days after the end of each month |
| Annual accounting scheme | 9 monthly instalments starting at the end of month 4, with a balancing payment 2 months after the year-end |
If you pay by direct debit, HMRC collects payment three working days after the due date, giving you slightly more time.
Capital Gains Tax Dates
| Date | Deadline |
|---|---|
| 60 days after completion | CGT on UK residential property disposals must be reported and paid |
| 31 January following the end of the tax year | CGT on all other disposals reported and paid via self-assessment |
The 60-day reporting requirement for residential property was introduced in April 2020 and applies even if the disposal will be reported on a self-assessment return.
Other Important Dates
| Date | Deadline |
|---|---|
| 1 February | Advisory fuel rates updated by HMRC (also 1 June and 1 September) |
| 5 April | End of ISA subscription year; use or lose your annual ISA allowance |
| 6 April | New tax rates and allowances take effect |
| 19 April | Final date for P45/P46 submissions from the previous tax year |
| 1 October | Annual adjustment for statutory sick pay, maternity pay, and other statutory payments (if applicable) |
| 31 December | EU DAC7 digital platform reporting deadline |
Calendar Summary for Sole Traders
For a sole trader whose tax year aligns with the standard 6 April to 5 April period:
| Month | Key action |
|---|---|
| April | New tax year begins; finalise records for the year just ended |
| May | Receive P60 if also employed |
| July | Second payment on account due (31 July) |
| October | Register for self-assessment if first year (by 5 October); paper return deadline (31 October) |
| January | Online return deadline; balancing payment and first payment on account due (31 January) |
Tips for Managing Deadlines
- Use accounting software that tracks filing deadlines and sends automated reminders
- Set up direct debits for regular payments like PAYE and VAT
- Keep a separate bank account for tax funds so money is available when deadlines arrive
- File returns early — the deadline is the latest date, not the target date
- If you cannot pay on time, contact HMRC to arrange a Time to Pay agreement before the deadline passes