Navigating the world of taxes can be a daunting task, especially with the ever-changing deadlines and regulations. To ensure you stay compliant and avoid penalties, it’s crucial to stay informed about important tax dates. Here’s a comprehensive guide to key tax deadlines for 2023-2024:
Individual Tax Dates
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Individual Income Tax Filing Deadline: April 15, 2024
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First Payment on Account (POA) Due: January 31, 2024 and October 15, 2024
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Self-Assessment Tax Registration: September 30, 2023 (Individuals)
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Paper Self-Assessment Tax Return Submission: October 31, 2023 (Individuals)
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Digital Self-Assessment Tax Return Submission: December 31, 2023 (Individuals)
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Tax Return Extension Filing Deadline: October 19, 2023 (Individuals)
Limited Liability Partnership (LLP) Tax Dates
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LLP Income Tax Filing Deadline: April 15, 2024
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First Payment on Account (POA) Due: January 31, 2024 and October 15, 2024
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LLP Annual Statement of Accounts Due: October 31, 2023
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LLP Accounts Confirmation Statement Due: November 30, 2023
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LLP Annual Return Due: December 31, 2023
Company Tax Dates
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Company Income Tax Filing Deadline: April 15, 2024
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VAT Return Submission Deadline: The 22nd of each month (for VAT-registered businesses)
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Corporation Tax Payment Deadlines: July 9, October 9, January 9, and April 9
Additional Important Dates
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PAYE (Pay As You Earn) Tax Return Due: 31st of January following the tax year
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Annual Tax on Enveloped Dwellings (ATED) Return Due: 31st January each year
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Pensions Annual Allowance Statement Due: By 6th April following the tax year
Stay Informed and Abreast of Changes
It’s essential to stay informed about any changes to tax deadlines or regulations. The HMRC website (https://www.gov.uk/government/organisations/hm-revenue-customs) is a valuable resource for keeping up-to-date on tax news and updates. You can also subscribe to HMRC notifications to receive alerts about important tax-related matters.
Seek Professional Guidance if Needed
If you have complex tax matters or need assistance navigating tax deadlines, consider consulting a qualified tax advisor. They can provide expert advice, ensure you comply with tax regulations, and help you minimise potential penalties.
By staying informed about important tax dates and seeking professional guidance when needed, you can stay on top of your tax obligations and avoid any unpleasant surprises. Remember, timely tax compliance is crucial for maintaining a healthy financial standing.
If you have any questions or concerns about your tax dates this year, our Accounting Team in Leeds & Ilkley will help you find your way. Get in touch with our accounting team here.