Contractor’s Question: As a relative newcomer to contracting, I found this ContractorUK article helpful as it set out some important dates for my tax diary. But the piece only goes as far as April, so what tax dates, including from this month, do I now need to be aware of?
Expert’s Answer:
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Contractor tax dates – Q2 & beyond
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May
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- 1st - Due date for corporation tax due for the year ended July 31st 2013
- 19th - If on a monthly salary, PAYE & NIC deductions due for month ended May 5th 2014 (but for electronic taxpayers, the due date is May 22nd)
- 31st - Ensure all P60s are with any relevant employees for the 2013-14 tax year
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June
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- 1st - Due date for corporation tax due for the year ended August 31st 2013 (note: corporation tax for small companies is due nine months and one day after the end of accounting period)
- 19th - If on a monthly salary, PAYE & NIC deductions due for month ended June 5th 2014 (but for electronic taxpayers, the due date is June 22nd )
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July
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- 6th - Final submission date to HMRC for P11D returns
- 19th - If on a monthly salary, PAYE & NIC deductions due for quarter ending July 5th (but for electronic taxpayers, the due date is July 22nd)
- 31st - Second payment on account due for 2013/14 personal tax
- 31st -- Second 5% surcharge applied if 2012/13 liability not settled in full
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October
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- 5th - Deadline for registering for self-assessment for the 2013/14 tax year
- 19th - If on a monthly salary, PAYE & NIC deductions due for quarter ended October 5th (but for electronic taxpayers, the due date is October 22nd)
- 31st - Filing due date for paper self-assessment for 2013/14
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December
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- 30th - Filing date for online 2013/14 self-assessment where tax owed is less than £1,000 and you require HMRC to code out any underpayment.
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The expert’s answer is based on information from SJD Accountancy, an accountancy firm specialising in contractors’ tax affairs.
