If you’re employed, your employer will pay your income tax and National Insurance on your behalf to HMRC through the PAYE (Pay As You Earn) system. If you earn over your personal allowance, you’ll need to pay income tax to HM Revenue and Customs (HMRC). You’ll also need to complete a tax return if self-assessment applies to you.
Here are some of the key dates and deadlines throughout the tax year that you need to know.
You could face penalties if you miss your tax deadlines. An initial £100 penalty may be charged if you miss the deadline to file your tax return and if it’s over 3 months late, you’ll be fined an extra £10 a day until you owe £900. If you take over 6 months you’ll be fined another £300 or 5% of the tax due, whichever is more. If your tax return still hasn’t been submitted after a year, another £300 or 5% of the tax due will be added to your bill.
The information contained on this webpage is based on our understanding of UK tax legislation and HMRC Interpretation. The contents of this webpage do not constitute tax advice and are meant as a general guide only. If you are unsure of your tax obligations or responsibilities you are recommended to seek professional tax advice. Tax reliefs referred to are those applying under current legislation, which may change. The availability and value of any tax reliefs will depend on your individual circumstances.