Monday 1st January 2018

Upcoming tax and accounts deadlines

1 January 2018 - Payment of corporation tax liabilities for accounting periods ended 31 March 2017 for small and medium-sized companies not liable to pay by instalments.

7 January 2018 - Due date for VAT returns and payment for 30 November 2017 quarter (electronic payment).

14 January 2018 - 

  • Forms CT61 to be submitted and tax paid for the quarter ended 31 December 2017.
  • Quarterly corporation tax instalment for large companies depending on accounting year end.                                                                                                                                

19 January 2018 - 

  • Pay PAYE, NIC, CIS and student loan liabilities for month ended 5 January 2018 if not paying electronically. 
  • File monthly construction industry scheme return. 
  • Payment of PAYE liability for quarter ended 5 January 2018 if average monthly liability is less than £1,500.                                                                                                       

21 January 2018 - 

  • File online monthly EC sales list. 
  • Submit supplementary Intrastat declarations for December 2017.

22 January 2018 - PAYE, NIC, CIS and student loan liabilities should have cleared into HMRC bank account.

31 January 2018 -

  • Electronic filing date for 2016-17 personal, partnership and trust self-assessment (SA) tax returns.
  • Deadline for various claims. 
  • Balance of 2016-17 SA liabilities is due.
  • Payment of first instalment of 2017-18 SA liabilities including class 2 NICs.
  • 2015-16 SA tax returns to be amended by this date.
  • ‘Vulnerable person election’ by trustees where the effective date is during 2015-16 (form VPE1).
  • Election under TCGA 1992, s 169Q to disapply TCGA 1992, s 127 for reorganisations in 2015-16. 
  • Election to opt out of pre-owned assets charge if this would first arise during 2016-17 (form IHT500). 
  • Repayment claim for 2016-17 class 2 NICs if a small earnings election was possible.
  • Supplementary  2016-17 forms P35 to be filed and liabilities paid if corrections required under IR35 rules.
  • Provision of final 2017-18 tax credit claims (assuming that estimates have been provided by 31 July 2017).
  • Reinstatement of 2017-18 tax credit claim if 'good cause' is shown for missing the 31 July 2017 deadline.
  • Companies house should have received accounts of private companies with 30 April 2017 year ends and public limited companies with 31 July 2017 year ends.


When do Childcare Vouchers end?

The exact date on which the Childcare Vouchers scheme will now close to new applicants has not been announced yet, but it's expected it'll be around October.


How much tax do I pay if I am self employed ?

We often get asked how much tax do I pay?  See our profits matrix to find out. 


New tax year - changes that affect small businesses

Employers will see increases in pension contributions and minimum wage rates, and individuals will see changes to their tax bills.