Annual and Monthly PAYE and NIC tax deadlines for small businesses

The table below highlights some of the key dates to look out for when making income tax and NIC payments to HMRC. Chances are, your accountant will be well aware of all tax deadlines, however business owners are ultimately responsible for ensuring that tax liabilities are paid on time.

Some deadlines relating to VAT, and annual company accounts (for limited companies) will be unique to your own business, so they are not listed here.

This table only includes annual deadlines. You can find out more about the deadlines for monthly/quarterly PAYE and NICs at the HMRC site.

You may have several extra days to pay your liabilities if you pay electronically rather than via cheque.

What business structure do you work under?

• If you’re self-employed, you pay tax on your profits, plus Class 2 and Class 4 NICs via self-assessment.
• If you work via your own company, or you’re an employee, you pay Class 1 NICs and income tax on any salaried income.
• If you’re a limited company director, you pay tax on any dividends you receive via the self-assessment process. NICs are not payable on dividends.

Monthly Tax Deadlines

These deadlines apply to employees only (Class 1 NICs) – not to the self-employed, who pay Class 2 / 4 NICs via the self-assessment process.

5th of every month – month-end date for PAYE

19th of every month – deadline to pay PAYE and NIC liabilities to HMRC (if you’re using a non-electronic method).

22nd of every month – deadline to pay PAYE and NIC liabilities to HMRC (if you’re paying electronically).

If the amount payable is under £1500, you may be able to pay your NIC bill quarterly instead of monthly. In this case, the month-end and electronic due dates are on the 5th and 22nd of July, October, January and April.

Annual Tax Deadlines

5th April – End of the tax year.

6th April – Start of the new tax year.

31st May – Latest date to provide P60 to each of your employees if you have any (for the previous tax year). The P60 summarises their total pay and deductions for the previous tax year.

6th July – You must inform HMRC of all expenses and benefits received by employees.

19th July – Pay any Class 1A National Insurance due on taxable expenses and benefits you’ve provided to employees. The payment must reach HMRC by 22nd July, or 19th July is submitting payment by post.

31st July – Second self-assessment payment on account to be made (if relevant)

5th October – Deadline to advise HMRC that you need to register for self-assessment for the previous tax year.

31st October – Paper personal tax return (to 5th April) to be submitted to the HMRC if you want them to work out your tax liability for you

31st January – Deadline for paper and online self-assessment tax returns, including full payment to be made for income tax. Most self-employed people also pay Class 2 and Class 4 NICs via self-assessment. First payment on account to be made (if relevant).

We recommend you check with your accountant before filing tax with HMRC – especially if you’re doing so for the first time.