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Round-Up of Key Tax Dates for 2022

Round-Up of Key Tax Dates for 2022

Whether you’re an employee or a business owner, it’s important to keep up with your tax payments. Paying your tax correctly can be even more challenging for business owners, with more deadlines to meet on top of the day-to-day responsibilities of running a business.

To help you keep on top of your tax responsibilities, here’s a guide to the key tax dates for 2022.

31st January 2022 – Last day to file your online self-assessment tax return

  • You must file your online self-assessment income tax returns for the 2020/21 tax year by midnight on the 31st of January.
  • You can submit your tax returns up to the 28 February 2022 without receiving a late filing penalty.
  • You must also pay your self-assessment tax bill by the 31st of January.
  • Any capital gains tax for 2020/21 must also be paid.
  • This is also the deadline to amend your 2019/20 tax return.
  • If you are claiming tax credit for the 2020/21 tax year, this is the final day to provide final income figures.
  • Any outstanding national insurance or student loan owed to HMRC for the previous tax year must be paid.

31 March 2022 – last day to pay any deferred VAT

  • Any remaining VAT deferred in the period to June 202 under Covid reliefs must be paid in full

1 April 2022 – VAT changes

  • The temporary reduced rate of 12.5% for certain hospitality and attraction supplies will end. Any such supplies will revert back to the standard vat rate of 20%
  • All UK businesses must be MTD (Making Tax Digital) compliant for VAT return periods starting on or after this date
  • New VAT penalty regime commences for VAT return periods starting on or after this date

1 April 2022 – NMW rates change

5th April 2022 – End of the Tax Year 2021/22

  • The 5th of April marks the end of the Tax Year 2021/22.
  • This is the last day to make use of any income tax personal allowances and annual ISA allowances.

6th April 2022 – Start of the Tax Year 2022/23

6th July 2022 – Employers must submit P11D forms for 2021/22

  • By this date, employers must submit P11D forms to HMRC and provide relevant employees with this information.
  • Employee share schemes established in the previous tax year must be registered by this date.

31st July 2022 – Second payment on account of tax

  • On the 31st July, the second payment on account of self-assessed tax for the 2021/22 year is due to HMRC.
  • Tax credit claims for the previous tax year must be confirmed and renewed for the 2022/23 year by this date.

5th October 2022 – Deadline to register for self-assessment tax

  • You must register with HMRC for self-assessment tax for the 2021/22 tax year by this date.

31st October – Deadline to file paper income tax return

  • You must have submitted your paper income tax returns for 2021/22 with HMRC by this date.

30th December – Deadline to file income tax return

  • To have tax collected through your PAYE code (for payments under £3,000), you must have filed your self-assessment income tax return with HMRC by this date.

If you'd benefit from professional help with your tax, including support with self-assessment tax returns, corporation tax returns or tax planning, Hugh Davies & Co. are specialists offering a range of services to make your life easier. Get in touch with our expert accounting team today to discuss your requirements.

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Email: enquiries@hugh-davies.co.uk

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