Paying right amount of taxes should always be one of your top priorities. It is because if you are not able to do so, you will not be able to escape from penalties. And, such penalties can range few hundreds to thousands. That’s why it is important for you to know all the key tax dates.
Some of the important tax dates for 2016 are listed below.
31 January 2016
31 January is the deadline for the self assessment tax returns for the year ended 5 April 2015. Simply, make sure to make balance payment of the end year by this date.
6 April 2016
It is the day of the first tax year 2016-17.
19 April 2016
It is the deadline to submit postal payments to the HMRC for any PAYE/NICs due for tax year which ended on 5 April 2016.
22 April 2016
It is the last day for submitting electronic payments to the HMRC for any PAYE/NICs for the tax year ending on 5 April 2016.
7 May 2016
It is the deadline to submit VAT returns and payments due for Accounting Quarter period to the HMRC which ended on 31 March.
22 May 2016
It is the last day for submitting electronic remittance of PAYE, NICs and CIS to the HMRC.
19 June 2016
It is the closing date to submit postal payments remittance of PAYE, NICs and CIS to the HMRC.
22 June 2016
It is the closing date to submit electronic remittance of PAYE, NICs and CIS to the HMRC.
5 July 2016
It is the deadline for the PAYE settlement of the all previous outstanding (2015-16).
22 July 2016
It is the last date to clear the electronic payments to the HMRC for any outstanding NICs for the tax year which ended on 5 April 2016.
31 July 2016
It is the deadline for second self assessment payments on account relevant to the tax year ending on 5 April 2016.
5 October 2016
It is the last day to notify chargeability to the HMRC for registering self-assessment for the tax year 2015-16.
31 October 2016
It is the deadline for submitting paper income tax returns to the HMRC for calculating the tax liability.
30 December 2016
It is the last date to file income Tax return with HMRC to collect the tax liability through PAYE tax code (under £3,000).
