Its always important to be fully aware of the all tax deadlines, especially this year. Small businesses are going to be hugely affected by the Treasury’s Making Tax Digital. From the 1st of April businesses are required to maintain their records electronically, using Xero or Quickbooks for example. Businesses must also submit their VAT returns digitally by software rather than the old fashioned online form. While this sounds like a massive step change, small businesses are thankfully well catered for in terms of affordable software. Those businesses who are under an annual accounting scheme will be well insulated from the immediate changes. However you will still have to ensure they maintain adequate electronic records and submit digitally at year end.
Monday 1st April 2019
Businesses are required to keep digital records and submit VAT returns digitally as part of the Making Tax Digital Scheme or MTD for short. If you are not aware of what this is, I would definitely contact us or your accountant to find out if you are compliant.
Friday 5th April 2019
End of the tax year.
31 May 2019
Copies of 18/19 P60 documents issued to employees.
6 July 2019
P11d Documents issued to employees.
5th October 2019
Deadline to register with HMRC if you have become self-employed or started receiving income from property during the tax year 18/19. You will need to submit a form CWF1 for self-employment or form SA1 for non-self-employed income to HMRC.
31 October 2019
Paper deadline for self-assessment returns for 18/19 tax year.
30 December 2019
Deadline for online submission of self assessment tax returns for year ending 5 April 2019 if you want HMRC to collect tax via your tax code where you owe £3000 or less.
31 January 2020 (midnight)
Online self- Assessment tax returns for 18/19 tax year must be submitted by this date.
If you want to use MTD compliant software or need bookkeepers or accountants please contact us – firstname.lastname@example.org