If you have a business, the following are some of the more common tax deadlines coming up in December.
VAT
If your VAT quarter end is 30 November, you need to submit your return by 31 December (paper) or 7 January (online). Your payment is usually the same as the due date for your return. More information on deadlines can be found here. Details of how to pay your VAT are here.
NB HMRC plan to move the requirement of online filing to almost all VAT registered businesses. If you still file by paper return, now may be a good time to change over to electronic filing.
Companies
If your company year end is 31 March 2011, you need to file your abbreviated accounts with Companies House by 31 December 2011.
Also, any corporation tax is payable by 1 January 2011. Details of how to pay are here.
Employers
If you pay your PAYE monthly, the payment for m/e 5 December 2011 is due as cleared funds by 22 December 2011. If you pay by cheque, the payment needs to be with HMRC by 19 December. Details of how to pay are here.
Income Tax
2011 personal tax returns are due by 31 January 2012. Penalties for late filing of tax returns are getting harsher, see here.
Any income tax due on the 2011 tax return is also due by 31 January 2012. Additionally, if you pay personal income tax and are caught under the 'payment on account' system, the first payment for the 2012 tax year is due by 31 January 2012. Details of how to pay are here.
Payment deadlines can be tight and increasingly HMRC are levying penalties for late payment, so we advise giving yourself a few days grace.
