Important Tax dates and deadlines

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Due to the current pandemic, HM Revenue and Customs (HMRC) has announced a number of delays, deferrals and schemes to help businesses and the self-employed.

We have put together a list of those important dates and deadlines to ensure you don’t miss them.

VAT Deferral

Any VAT deferred for the relevant period from March 20, 2020 to June 30, 2020 was due to be paid to HMRC by March 31, 2021. This payment can now be spread over the months to March 31, 2022. 

Self-Assessment

The second payment on account for 2019/20 was originally due on July 31, 2020, this is now due anytime up until the deadline of January 31, 2021.

The date for submission of 2019/20 Self-Assessment Tax Return is due on January 31, 2021.

The balancing payment for 2019/20 has not changed and is due on January 31, 2021, together with the first payment on account.

The second payment on account for 2020/21 is due on July 31, 2021. 

If you are struggling to pay in full a ‘Time to Pay’ instalment arrangement can be made, the interest will still apply but late payment penalties will be avoided.

For further information about the Time to Pay Scheme click here.

Corporation Tax

No current deferral but ‘Time to Pay’ instalment arrangement can be made.

PAYE / NI

HMRC has not deferred the timing of payment on PAYE/NI. PAYE payments must be made either monthly or quarterly as normal.

The Job Retention Scheme (JRS) comes to an end on October 31, 2020, the last claims for the period to October 31, 2020 must be made before November 30, 2020.

The Job Support Scheme (JSS) starts on November 1, 2020 and will be available for six months.  

For further information about the Job Support Scheme click here.

The team here at Ellis & Co is here to help, please contact your account manager or one of the team on 01244 343504.

HMRC has its own dedicated Covid-19 helpline 0800 024 1222.