Diary of main tax events – December 2020 / January 2021

Below is a list of the main tax events coming up for December 2020 to January 2021. It is important to be aware that filing your tax return late or failing to pay the tax you owe on time, could mean you face extra penalty fees and interest charges. It is therefore recommended that you authorise a tax specialist such as Beavis Morgan to handle your tax affairs and deal with HM Revenue & Customs on your behalf. This will ensure that all deadlines are met and that you are not paying more tax than you need to.

Date

What’s Due

1/12/20

Corporation tax for year to 29/02/2020 unless quarterly instalments apply

19/12/20

PAYE & NIC deductions, and CIS return and tax, for month to 5/12/20 (due 22/12 if you pay electronically)

 

30/12/20

Deadline for filing 2019/20 tax return online in order to request that HMRC collect outstanding tax via the 2021/22 PAYE code

 

1/1/21

Corporation tax for year to 31/03/2020 unless quarterly instalments apply

 

19/1/21

PAYE & NIC deductions, and CIS return and tax, for month to 5/1/21 (due 22/1 if you pay electronically)

 

31/1/21

Deadline for filing 2019/20 self-assessment tax return online and paying your outstanding tax for 2019/20 and first payment on account of 2020/21 tax.

Note:

1. if this liability is no more than £30,000 you can agree with HMRC to spread over 12 months.

2. the 31st is a Sunday. HMRC should be “open” but advisers may not be. 

At Beavis Morgan, our diverse team of tax professionals are committed to ensuring that your tax reporting obligations are fully satisfied and that every opportunity to lawfully exploit tax savings is made known to you, restructuring your affairs in a tax effective and efficient way.

For more information and to discuss your tax affairs in further detail, contact Barrie Dunning or your usual Beavis Morgan Partner.

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