Taxpayers must undertake various tasks, such as filing returns and paying tax, by certain December key dates. If these key dates and deadlines are missed, HMRC may charge late filing and late payment penalties. Interest is also charged on tax paid late.
December Key dates
The 2023 December key dates are:
1 December for corporation tax payments
7 December for filing VAT returns and paying VAT
19 December for payment of PAYE and NIC by cheque
22 December for payment of PAYE and NIC electronically
30 December for filing 2022/23 tax returns where tax is to be collected through PAYE; and
31 December for filing corporation tax returns and accounts at Companies House.
This note explains some important December key dates and tax deadlines which must be met.
1 December 2023
Corporation tax for accounting periods ending on 28 February 2023 must be paid by 1 December 2023. However, a company has until 12 months from the end of the accounting period to file their company tax return, so while the corporation tax for the year to 28 February 2023 must be paid by 1 December 2023, the company has until 29 February 2024 to file its Company Tax Return.
5 December 2023
PAYE tax month 8 comes to an end on 5 December 2023.
7 December 2023
VAT-registered businesses must file their VAT return for the quarter to 31 October 2023 online by 7 December 2023 and pay any associated VAT by the same date.
19 December 2023
If you pay your PAYE and NIC by cheque, you must ensure that your payment for month 8 (to 5 December 2023) reaches the Accounts Office by 19 December 2023.
While HMRC do operate a three day period of grace for payments received within three days or the due date, it is prudent to post the cheque in sufficient time for it to reach HMRC by 19 December 2023, allowing for Christmas post.
22 December 2023
If you pay your PAYE and NIC electronically, you enjoy a later deadline than those who pay by cheque. The deadline for electronic payments is the 22nd of the month. If you have pay electronically, you will need to ensure that your payment of PAYE and NIC for month 8 clears HMRC’s account by 22 December 2023.
30 December 2023
Although the deadline for filing your 2022/23 Self Assessment tax return online is 31 January 2024, if you owe any tax that you want to be collected through PAYE, you must file your return online by the earlier date of 30 December 2023. This may be the case if you are employed, but also have income from self-employment, letting property or from investments.
Tax can only be collected through PAYE via an adjustment to your tax code if the amount that you owe is £3,000 or less and you have sufficient PAYE income from which to collect the tax.
If you file your return by the 30 December 2023, HMRC will automatically adjust your tax code to collect tax in this way, unless you advise them otherwise.
31 December 2023
Companies with a 31 December 2022 year end must ensure that they have filed their company tax return by 31 December 2023. If your company prepared its accounts to 31 March 2023, you will need to ensure that your accounts are filed at Companies House by 31 December 2023.
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