Don't be late!
Posted on 21st June 2021 at 13:43
It's easy to get bogged down in a world of due dates, deadlines, appointment times, meetings etc. Thats why we thought we would outline HMRC's dates for submitting information and for payments. As we know, running your own company or working for yourself can get very hectic, especially with the Heavy 'HMRC' cloud looming over your head at certain times of the year. Bookeeping and payroll are what we do best, but if your field of expertise lies anywhere else, keeping up with accounts and deadlines can leave you with a real headache!
Take a look at the table below for a rough guide of HMRC's dates and penalties.
Requirement Submit from Deadline Payment date
Self-Assessments Apr 06th Jan 30th By Jan 31st
Company Year End 1 year anniversary 9 months from Last day of the month
of the date your company year anniversary
VAT return Date you became Monthly/Quarterly/Annually 45 days after VAT period end
VAT registered (Scheme dependant)
P32 Submissions done on Cut off 5th of the month 22nd of that month
CIS 5th of the month 10th of the month 22nd of the month
Penalties and late fees
Self-Assessment late filing fee - £100 if not submitted and payed by the 31st Jan increasing to £300 thereafter including interest on what’s owed daily.
Interest added on to all late P32 payments.
Late CIS payment submission, instant £100 fine.
VAT return see below link.
https://www.gov.uk/government/publications/interest-harmonisation-and-penalties-for-late-submission-and-late-payment-of-tax/interest-harmonisation-and-penalties-for-late-payment-and-late-submission
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