Keeping up to date with your compliance tasks is an ongoing process. So, to keep you prepared and on the ball, we’ve highlighted some of the forthcoming deadlines for Q3.
Your company-specific deadlines:
NOTE: First company accounts are due 21 months after the company is incorporated, and future company accounts are then due nine months after your period-end. Corporation tax payments are always due 9 months and 1 day after period-end, except where your profits exceed £1.5 million, when the quarterly payments kick in.
For example a company with a 30/11/2020 accounting period-end needs to submit its accounts by 31/08/2021 and pay Corporation Tax by 01/09/2021.
If your profits are more than £1.5 million, then tax is payable quarterly with two payments before the end of your accounting period and two after. The first payment is normally six months and 13 days after the start of the period, with the others three-monthly from that point.
Some general deadlines to plan for:
NOTE: For companies running their own payroll. Be aware that ‘payroll month 9’ runs until 5 January and doesn’t end in December. This makes a difference when calculating PAYE for weekly payrolls. PAYE is due 19/22 January.
Talk to us about hitting your deadlines
Where we carry out the related activities (e.g. payroll processing), we’ll be monitoring your deadlines automatically – but don’t forget that you remain legally responsible.
Monitor your deadlines and check the upcoming dates for all relevant activities. Pay particular attention to those where we don’t carry out the task for you. Failing to meet a compliance deadline can result in fines and penalties, so it’s good practice to keep everything on time.