What are the tax deadlines for the current year?
This year you will be paying tax for the previous tax year, which ran from 6 April 2023 and ended on 5 April 2024.
Deadline for Notifying HMRC about tax
Deadline: 5 October 2024
Action: Inform HMRC if you need to complete a tax return and haven't done so before.
Method: You need to register for Self Assessment
Deadline for Submitting Your Tax Return
For Paper Returns: Deadline is midnight on 31 October 2024.
For Online Returns (recommended): Deadline is midnight on 31 January 2025.
Deadline for Paying any Tax owed
Main Deadline: Midnight on 31 January 2025.
Advance Payments: Second payment deadline is 31 July 2025 for those making 'payments on account.'
Late Submission Penalties
You may incur a penalty if you miss the deadlines. Appeals are possible with a reasonable excuse, but we don’t recommend this!
Provisional Figures
If you don't know your full-year profit, we will use provisional figures.
Inform HMRC that we'’ve used provisional figures when submitting your return.
We have 12 months from the deadline to correct your return.
Interest applies to any additional tax due from the original payment date; overpaid tax will accrue interest for you.
Special Deadlines
Automatic Collection from Wages/Pension: Submit online return by 30 December 2024.
Trustees/Non-Resident Companies: Submit a paper return by 31 January 2025.
Late Notification by HMRC: You may receive a different deadline if HMRC was late in sending your return.
Partnership Returns with a Company Partner
If your partnership’s accounting date is between 1 February and 5 April and one of your partners is a limited company, the deadline for an:
Online Return: Deadline is 12 months from the accounting date.
Paper Return: Deadline is 9 months from the accounting date.
Malones Accounting is here to help you with your tax returns, simply get in touch for more information and a personalised quote.