Is there a specific last date for a tax return?

When it comes to filing taxes, meeting the deadlines is crucial to avoid penalties and stay compliant with HMRC. If you’re asking, What is the last date for tax return?, it’s essential to understand the various deadlines that apply depending on how you file and your type of return.

1. Self Assessment Tax Returns

Last Date for Online Filing

For most individuals and self-employed taxpayers, the deadline for filing a self assessment tax return online is 31st January following the end of the tax year. The UK tax year runs from 6th April to 5th April of the following year, so the return for the 2022/2023 tax year would be due by 31st January 2024.

Last Date for Paper Filing

If you prefer to submit a paper tax return, the deadline is earlier. Paper self assessment tax returns are due by 31st October following the end of the tax year. Missing this deadline means you’ll need to file online to avoid penalties.

Payment Deadlines

In addition to filing your return, you’ll need to pay any taxes owed by 31st January. If your tax bill exceeds £1,000, HMRC may require payments on account, which are advance payments toward the following tax year. These are due by 31st January and 31st July.

2. Corporation Tax Returns

Filing Deadline

For companies, the corporation tax return (CT600) must be filed 12 months after the end of the accounting period. Unlike personal tax returns, the deadline is not fixed to the calendar year, so it varies depending on the company’s financial year.

Payment Deadline

While the filing deadline is 12 months after the end of the accounting period, corporation tax must be paid 9 months and 1 day after the end of the accounting period. For example, if a company’s accounting period ends on 31st March, the tax payment would be due by 1st January the following year.

3. VAT Returns

Last Date for VAT Filing

Businesses registered for VAT must file their VAT returns quarterly, with the deadline falling one month and 7 days after the end of the VAT quarter. This means if your VAT quarter ends on 31st March, your VAT return and payment are due by 7th May.

Payment Deadlines

VAT payments are generally due at the same time as the return, so it’s important to ensure both are submitted by the deadline to avoid penalties. Depending on the VAT scheme, some businesses may file annually or monthly, so make sure to follow the specific deadlines for your situation.

4. Capital Gains Tax

Property Sales

If you sell a residential property in the UK and make a capital gain, you must report and pay any Capital Gains Tax (CGT) owed within 60 days of the sale’s completion date. This rule applies primarily to property that isn’t your main residence, such as rental or investment properties.

Other Capital Gains

For other capital gains, such as the sale of shares, artwork, or assets, the deadline aligns with the self assessment tax return. This means you’ll need to report and pay any CGT by 31st January following the tax year in which the gain occurred.

5. PAYE and Payroll Tax Deadlines

Regular Payroll Filings

If you’re an employer, you’ll need to file PAYE returns to report employee income tax and National Insurance contributions. PAYE returns are generally filed monthly, but you can choose to file quarterly if your PAYE liability is below a certain threshold.

P11D and P60 Deadlines

Additional forms, like the P11D and P60, have specific deadlines. The P11D, which reports benefits provided to employees, is due by 6th July following the tax year. The P60, summarizing an employee’s total income and deductions, should be provided to employees by 31st May.

How TRW Accountants Can Help

At TRW Accountants, we help you navigate all the important tax deadlines, ensuring you meet every requirement accurately and on time. Our comprehensive tax services cover self assessment, corporation tax, VAT, and payroll taxes, helping you avoid penalties and stay compliant with HMRC. Contact us today to learn how we can support you with timely tax return filing.

Conclusion

To answer “What is the last date for tax return?” — it depends on the type of return you’re filing. For self assessment, the key date is 31st January for online returns. Corporation tax has variable deadlines based on the company’s accounting period, while VAT returns are typically due quarterly. Staying informed about these dates is essential for avoiding penalties and ensuring smooth tax compliance. By understanding the relevant deadlines, you can plan ahead and make sure your returns are filed on time.

For more insights, explore our resources on Are tax returns done alphabetically? and Who can do tax returns?