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Meeting Revenue Deadlines
Deadlines imposed by the Revenue begin to bite at £100 for missing the 31st January deadline, then employer's penalties for not getting payrolls in by 19th May. Companies House penalties for not sending in Company Accounts on time are steeper and recently amended to be much higher. For partnerships, a £100 penalty for missing the 31st January deadline is imposed for each partner (regardless of whether a Personal Return has been sent in).
We keep an eye on all these for you, remind you when you are getting late and try to ensure that the deadlines are met.
Relevant Dates
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5th April | End of the tax year. You should have had a letter from us asking for Tax Return details. |
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19th May | Employer deadline for submitting employee details for the year. |
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31st May | Employees should receive their P60's by this date.
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June | Take MHR's letter out of your drawer or ask for a copy. |
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7th July | Employees should receive their forms P11D (benefits received) by now. If you have changed employers during the year, you will have to ask your old employer for the P11D as he is not obliged to send it to you. | |
31st July | Second payment on account due. |
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1st Aug | Interest starts to run on unpaid tax |
| 1st Sept | £100 penalty charged for previous years tax returns still outstanding. 5% surcharge on unpaid tax for previous year. |
| 31st Oct | New Revenue deadline for sending in Returns by October post. If not submitted by this date you will have to use filing using the Internet. |
| 1st Nov | MHR's fees increase by 25% for anyone who has not let me have their records. We do not guarantee to have Returns completed by the deadline after this date but will do our best. The priority now needed to complete your Return in time is reflected in the increased fee. |
| 1st Dec | MHR Ltd. may refuse to prepare your accounts / Return due to lack of time. |
| 31st Jan | Deadline for submission of Tax Returns. We should be able to get all Returns in by January 31st if we work together! Balance of tax due for the year and first payment on account for the following tax year. |
| 1st Feb | Interest starts to run on any tax unpaid.
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| 1st March | 5% surcharge (penalty) on unpaid tax for previous year.
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