Mark Your Calendars with Important Tax Dates You Need To Know About!
We are quite the way into the 2017/2018 tax year already aren’t we? But there’s still a way to go yet and a number of important dates are still to come. Whether you’re one of those people who leaves everything to the last minute, or someone who gets all the prep work done in advance our list of important dates below will help ensure you never miss anything important.
Whether it’s the final date to submit your paper work by or the dates you need to know so you submit your tax return in time. We’ve researched some of the important dates coming up so you can ensure you never miss any important deadlines.
The 31st October 2017
Yeah it’s Halloween we know but a different type of horror will befall you if you don’t get your tax return in by this date! This only applies for paper tax returns if you are doing your tax return online for the period of April 2016 to April 2017 then you will have a longer deadline.
The 30th December 2017
We know it seems like a long time off at the moment, but time can creep up on you quickly can’t it? The 30th of December is an important day for your tax payments as it’s the final date in which you can have your earnings be taxed under PAYE. Under the PAYE system you’ll be able to pay any overdue tax, if it’s less than £2000 as long as your online claim is submitted by this date.
The 31st January 2018
Now this seems even further away we know, but many people do leave filing their tax returns to the last minute. The 31st of January 2018 is the final deadline for you to submit your online tax return claim it also doubles as the final deadline date for you to pay any overdue tax, no matter what way you filed your tax return. Remember the tax free personal allowance has changed in the 17/18 tax year and this could affect how much tax you owe or are due back.
VAT Payments
VAT payments are a little more unusual, because they aren’t fixed so they’re going to differ for everyone. However they are made quarterly meaning your deadline will depend entirely one when you registered for VAT and the start and end date of your accounting.
However the 7th September is a particularly important date to mark if you use Faster Payments and your VAT period is from May to July 2017. If you are unsure when exactly your VAT payment deadline is then don’t worry the HMRC’s website does have a VAT deadline calculator you can use to work it out.
Can My Tax Return Date Change?
Its uncommon but not exactly rare for you to be asked by HMRC to fill out another tax return, if this does happen then your tax return date will change. For example if you are asked to fill out another paper tax return then you will have three months from that date to submit it. This also applies for online tax returns as well, so your tax return date could indeed be after the official deadline dates.
