Self Assessments Key Dates 2008/09

31 January 2008 Deadline for filing tax returns for 2006/07. Balancing payment due for 2006/07. First payment on account due for 2007/08.

31 January 2008 Interest charged on any tax owed but remaining unpaid for tax returns issued up to 31 October 2007.

1 February 2008 First fixed penalty of £100 charged if the self assessment tax return was not filed by 31 January 2008. (If return issued after 31 October 2007 this date is revised to three months from the date of issue stated on the return).

28 February 2008 First surcharge applied at a rate of 5% to the outstanding balancing payment for 2006/07, this does not apply to the first balancing payment for 2007/08.

12 March 2008 Alistair Darling’s first budget speech as Chancellor.

5 April 2008 Final day of the 2007/08 tax year, also being the final day on which one can:

• utilise the individual capital gains tax annual exemption of £9,200 for 2007/08;
• claim indexation allowance and taper relief on capital disposals before it is abolished;
• utilise inheritance tax annual gift exemption of £3,000 for 2007/08;
• pay personal pension contributions in respect of 2007/08;
• IR35 companies pay salaries to contribute PAYE/NIC to 2007/08.

6 April 2008 First day of the 2008/09 tax year. 2007/08 tax returns or notices to complete a tax return will be sent out to all self-assessment taxpayers.

19 April 2008 Deadline for payment of 2007/08 PAYE/NIC for IR35 companies.

19 May 2008 Deadline for filing PAYE return forms, or substitutes and P35.

31 May 2008 Deadline for employers to issue form P60 for year ended 5 April 2008.

1 July 2008 Corporation tax return for year ended 31st March 2007 to avoid minimum £200 penalty.

19 July 2008 Class 1A NIC payment is due (22 July for larger employers paying electronically).

31 July 2008 The following events occur for individuals:

• Second payment on account for 2007/08 is due for self assessment taxpayers;
  
• Second fixed penalty of £100 is issued if the self assessment tax return remains outstanding;
  
• Second 5% surcharge if the 2006/07 balancing payment has still not been paid. Again this does not apply to the payments on account.

31 July 2008 The following events occur for companies:

• Corporation tax returns for the year ended 31 July 2007 must be filed;
  
• Limited company accounts filing deadline for year ended 30 September 2007.

1 August 2008 Corporation tax due to be paid for 31 October 2007 accounting period end.

31 August 2008 Limited company accounts filing deadline for 31 October 2007 accounting period end and filing deadline for corporation tax returns with an accounting period ending 31 August 2007.

1 September 2008 Corporation tax liability to be paid for accounting periods ending 30 November 2008 accounting period end.

30 September 2008 Deadline for:

• Receipt of self assessment tax returns by HMRC where you wish for HMRC to calculate your liability;
  
• Corporation tax returns for accounting periods ended 30 September 2007;
  
• Submission of self assessment tax returns where you wish for your balancing payment (below £2,000) to be collected through your 2009/10 PAYE code.

1 October 2008 Corporation tax liability due for payment in relation to 31 December 2007 accounting periods.

5 October 2008 Deadline for notifying HMRC of new income sources where a self assessment tax return has not previously been required.

6 October 2008 Last date to notify HMRC of a tax liability where no tax return has been issued.

19 October 2008 Payment of income tax and NIC for the previous year under any voluntary PAYE settlement agreement.

31 October 2008 Deadline for:

• Submission of paper self assessment tax returns for 2007/08;
  
• Limited company accounts filing deadline for accounting periods ended 31 December 2007;
  
• Filing of corporation tax returns for accounting periods ended 31 October 2007.

30 December 2008 Deadline for submission of self assessment tax returns over the internet where you wish for your balancing payment (below £2,000) to be collected through your 2009/10 PAYE code.

31 January 2009 Deadline for:

• Submission of 2007/08 self assessment tax returns over the internet;
  
• Submission of 2007/08 self assessment paper returns for designated persons (such as MP’s and public figures);
  
• Payment of 2007/08 balancing payment;
  
• Payment of 2008/09 first payment on account.

1 February 2009 First fixed penalty of £100 charged if the self assessment tax return was not filed by 31 January 2008. (If return issued after 31 October 2007 this date is revised to three months from the date of issue stated on the return).