With the end of the tax year approaching fast, it is vital that you are ready. Being prepared will save you time and money when the form filling starts.
Key deadlines
19 April 2012/ |
Tax under PAYE and Class 1 NICs for the year ending 5 April 2012 must reach HMRC to avoid interest charges and a late payment penalty (the penalty could also apply to late paid CIS tax).
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19 May 2012* |
Forms P14 and P35 returns must be with HMRC.
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31 May 2012 |
Employees must receive their forms P60.
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6 July 2012 |
Forms P9D, P11D and P11D(b) must be with HMRC. Copy forms P9D/P11D must be given to employees.
Termination packages that exceed £30,000 (made up of either cash and benefits or benefits alone) must be reported to HMRC.
Transactions in employment related securities must be reported to HMRC on return forms 34, 35, 39, 40 and/or 42.
Deadline for obtaining a PAYE settlement agreement (PSA) for 2011/12 (or adding to the list of items covered).
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19 July 2012/ |
Class 1A NICs must reach HMRC to avoid interest charges.
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19 October 2012 |
Tax and NIC due on a PSA must be paid to HMRC to avoid interest charges.
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* Date falls on a weekend: delivery/payment must be made by the last weekday before.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.