Taxpayers must undertake certain tasks, such as filing returns and paying tax, by certain dates. If these deadlines are missed, HMRC may charge late filing and late payment penalties. Interest is also charged on tax paid late.
July filing deadlines
The deadline for the filing of expenses and benefit returns for 2022/23 has now passed, for those that missed it, it was 6 July 2023.
PAYE and NIC for month 3 (to 5 July 2023) must reach HMRC by 21 July where paid electronically. Where tax is paid under Self Assessment, the second payment on account for 2022/23 must reach HMRC by 31 July 2023.
Below are some of the remaining tax deadlines which must be met in July 2023.
7 July 2023
VAT-registered businesses must file their VAT return for the quarter to 31 May 2023 online by 7 July 2023 and pay any associated VAT by the same date.
19 July 2023
Employers who pay their PAYE and NIC by cheque must ensure that their payment for month 3 (to 5 July 2023) reaches the Accounts Office by 19 July 2023. Small employers who pay their PAYE quarterly and who pay by cheque, will also need to ensure that their payment for the quarter to 5 July 2023 reaches HMRC by the same date. Remember to post the payment in sufficient time for it to reach HMRC by 19 July.
21 July 2023
Employers who pay their PAYE and NIC electronically enjoy a later deadline than those who pay by cheque. The normal deadline for electronic payment is the 22nd of the month. However, as 22 July 2023 falls on a Saturday, employers who pay electronically will need to ensure that their payment of PAYE and NIC for month 3 clears HMRC’s account by 21 July 2023 if payment is made electronically.
Small employers who are paying their PAYE and NIC for the quarter to 5 July 2023 electronically will also need to ensure that their payment for the quarter to 5 July 2023 clears HMRC’s bank account by 21 July 2023.
31 July 2023
Taxpayers who are within Self Assessment and who are required to make payments on account must ensure that their second payment on account for 2022/23 reaches HMRC by 31 July 2023.
If you need assistance with any of the July filing deadlines mentioned in this summary, please contact us on 020 3697 7147.