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Key Accounting Dates for IT Contractors  

The table below highlights some of the key dates to look out for when returning paperwork to the Inland Revenue. Chances are, most contractor accountants will take care of most of this list, but we recommend you also keep aware of these dates. Some dates, such as your VAT quarterly return and Company Year End will be unique to your own Company (or business), so they are not listed listed here.

19th of Each Month - PAYE/NIC payment for previous month's salary (or quarter if paying quarterly) to reach the Inland Revenue Accounts Office.

31st May - Latest date to provide P60 to each of your employees if you have any (for previous tax year)

6th July - Where relevant, forms P11D, P11D(b) and P9D to be returned to Inland Revenue. Forms P11D and P9D to be issued to all relevant employees.

19th July - Class 1A NIC Payment for previous tax year to reach Inland Revenue.

31st July - 2nd Personal Tax Payment on Account to be made (if relevant)

30th September - Personal Tax Return (to 5th April) to be submitted to the Inland Revenue if you wnat them to work out your tax liability for you.

31st January - 1st payment on account to be made (if relevant). Balancing payment for previous tax year. Capital Gains Tax Payment. Final filing date for previous tax year's personal tax return (£100 penalty applied if return is made later than this date).

For in-depth deadilnes and even a customised list of key dates for your own business, try the "Tax" section of the Business Link site. You should always seek advice, or check with your accountant before filing tax documentation with the Inland Revenue - especially for the first time.


Published on May 11, 2006


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