The summer holidays have become a distant memory and autumn is fast approaching, which can mean only one thing – it is time, once again, to focus attention on important tax dates.
October has three submission dates that you need to be mindful of so it is worthwhile getting ahead now, as deadlines have a tendency to creep up fast.
The deadline for notifying HMRC of chargeability for Income Tax/Capital Gains Tax for 2016-17 if you are not registered for Self-Assessment is 5th October.
You will need to complete and submit form CWF1 for self-employment, form SA1 for non self-employed income, or form SA401 for partners.
During this same month you will need to ensure that electronic payments for Income tax and National Insurance, which are due under a voluntary PAYE Settlement Agreement, are paid by 19 October.
Also please make sure that paper submissions of Self-Assessment tax returns for the tax year ended 5 April 2017 are sent off and received by HMRC no later than midnight on 31 October.
It may just be a coincidence that this date falls on Halloween, but certainly the penalties for late filing of tax returns are a scary thought so to make sure you are not kept awake at night, make sure you give yourself plenty of time to send off your submission.
At Moore Thompson we provide a range of services to keep clients both tax-efficient and fully compliant. For more information about what we do, please contact us.