Small Business

Important dates for UK tax year 2024/25

13 min read

The new UK tax year commences on 6 April 2024 and ends on 5 April 2024. It is important that UK businesses are aware of when various tax payments are due, enabling better financial planning and reducing the risk of missing deadlines.
 
To help you out, we’ve summarised all the tax dates month by month. We hope you’ll find this calendar useful. 

UK tax year dates for Self Assessment tax returns and PAYE 2024/25

April 2024

5 April

The 2023/24 tax year ends.
 
End of the last tax year and the deadline for claiming your PAYE tax refund for the 2019/20 tax year
 
Deadline for claiming tax overpaid for the 2019/20 tax year under Self Assessment

6 April

The 2024/25 tax year begins. In addition, the Chancellor’s planned updates to any tax rates, wage rates and minimum pension contributions (among other things) will come into effect today. Read our blog on the autumn statement for 2023 to learn more.

May 2024

31 May

Deadline for issuing any employees with copies of 2023/24 P60 documents

July 2024

6 July

Deadline for issues of 2023/24 P11D and P11D(b) forms (if applicable) to employees

19 July

Deadline for paying Class 1A National Insurance Contributions (NICs) non-electronically (you’ll only pay this on benefits you give to your employees, such as private medical insurance)

22 July

Deadline for paying Class 1A NICs electronically

31 July

Second 2023/24 Income Tax and National Insurance payment on account deadline

October 2024

5 October

Deadline to register for Self Assessment for the previous tax year (2022/23) if you have new income or capital gains to report
 
Deadline to register with the HMRC if you became self-employed or started receiving income from property. (You should submit a form CWF1 for self-employment or form SA1 for non-self-employed income to HMRC.)

19 October

Deadline for postal payment of CIS/PAYE/Class 1 B NICs to HMRC

22 October

Deadline for electronic remittance of CIS/PAYE/Class 1 B NICs

31 October

Deadline for postal submission of Self Assessment tax returns for the tax year ended 5 April 2024

December 2024

30 December

Deadline for online submission of Self Assessment tax returns for the year ending 5 April 2023 for HMRC to collect employment or pension income tax through PAYE tax codes if less than £3,000 is owed

31 December

Deadline to file company accounts with Companies House for limited companies with year-end 31 March 2024

January 2025

1 January

Corporation Tax payment deadline (if your limited company’s financial year ended on 31 March 2024)

14 January

The CT61 tax filing deadline for the quarter ending 31 December 2024

19 January

Deadline for December PAYE and Class 1 NIC Postal Payments to reach HMRC

22 January

Deadline for December PAYE and Class 1 NIC Electronic Payments to reach HMRC

31 January

Online tax return deadline for Self Assessment return filing for tax year ended 5 April 2024
 
Deadline for 2023/24 Capital Gains Tax filing
 
Due date for the first payment on account for 2024/25 income tax and balancing payment of 2023/24 tax 
 
Deadline for the first payment on account for the 2024/25 tax year and the balancing payment for the 2023/24 tax year

March 2025

31 March

Corporation Tax return filing deadline (if you have a limited company with an accounting year end of 31 March)

UK tax year dates for VAT returns 2024/25

Small businesses in the UK usually submit their VAT returns quarterly, in line with the Making Tax Digital (MTD) for VAT rules. These rules mandate that all VAT-registered businesses use software compliant with MTD. The standard quarterly periods for VAT returns are:
 
  • 1 January to 31 March
  • 1 April to 30 June
  • 1 July to 30 September
  • 1 October to 31 December
 
As you can see, UK tax year dates for VAT follow a pattern. Whether you pay monthly or quarterly, the deadline for VAT returns is one month and seven days after the VAT period ends.
 
For example, the VAT return for the quarter from 1 January to 31 March 2024 should be filed by 7 May 2024.

FAQs about UK tax year dates 2024/25

The tax-free Personal Allowance for 2024/25 is £12,750, which is the same as the previous year and expected to stay unchanged until the 2028 UK tax year dates.

Once you cross the Personal Allowance, the income tax rates that come into play are as follows:
 
  • £12,751 to £50,270 – 20%
  • £50,271 to £125,139 – 40%
  • More than £125,140 – 45%
 
Scotland has some variations on this, which are as follows:
 
  • £12,751 to £14,732 – 19%
  • £14,733 to £25,688 – 20%
  • £25,689 to £43,662 – 21%
  • £43,663 to £150,000 – 41%
  • More than £150,000 – 46%

Given that tax bands are frozen, if the cost of living outstrips the tax threshold, a phenomenon called fiscal drag often puts taxpayers into higher tax brackets than they might originally be in. Expect this to continue for UK tax year dates over the next six years or so.

The standard tax code for 2024/25 UK tax year dates is 1257L. This code represents the tax-free personal allowance of £12750. You must ensure this code is correct so you do not underpay or overpay your income tax. You can find your tax code on your payslip, the HMRC app or your personal tax account.

Final words

Hopefully, this list of UK tax year dates gives you some clarity on how to plan for the 2024/25 tax year. As always, remember that tax-related government laws can change at any time, so be sure to keep an eye out for alerts about UK tax year dates and tax provisions.
 
It is always a good idea to plan to prepare your returns and payments well before UK tax deadlines. Contact Golding Accountancy to receive timely support. Good luck!
Golding coffee mug

Fancy a cuppa
with us?

Get in touch with Golding Accountancy for guidance on the ins and outs of accounting, taxation and financial management? Let’s hang out and chat about it – it’s on us!
PS: We love biscuits.
Call 01268-330-600
Or, email us at info@wearegolding.com
Or, email us at info@wearegolding.com
xero
silver partner
Certified advisor
ACCA-square 1