Tax Calendar 2009/10
PAYE and CIS
Monthly deadlines
For employers and Contractors the PAYE and CIS deductions are due to be paid to HMRC for the period ending the 5 of the month.
Where the payment is made electronically this is due by the 22 of the month.
Employer Returns
31 May Deadline for providing employees with forms P60 after the end of the tax year.
6 July Deadline for providing P11D details to the tax office and to your employees is 6 July after the end of the tax year.
Self Assessment Tax return deadlines and penalties
October 5 Deadline for notifying HMRC of new sources of taxable income or gains if no Self assessment return has been issued
October 31 Deadline for submitting “paper” 2008/09 self assessment returns After this date all self assessment returns must be submitted electronically
December 30 Online returns (for tax to be collected through your tax code) If you send HMRC your tax return online you must send it back by this date if you want HMRC to collect tax through your tax code (if possible) where you owe less than £2,000. Otherwise you can send it up to 31 January
January 31 Online returns Where a notice to complete a tax return is issued before 31 October this is the deadline for sending back an online tax return. Where a notice to file a tax return is issued after 31 October the deadline to send it back is three months after the date of issue of the notice. If it arrives after this deadline you'll be charged an automatic £100 penalty.
January 31 First payment on account for income tax and class 4 national insurance is due, together with and balancing payment for the year ended 5 April 2009
February 28 5% surcharge and interest will be applied on any 2008/09 outstanding tax due on 31st January 2010 still remaining unpaid
July 31 Second payment on account for income tax and class 4 national insurance is due. In addition to this if you have not paid the first payment on account which was due on January 31 a further automatic 5 per cent surcharge on top of the amount you owe will now be added.
With the high cost of university and college education, encouraging children to start saving early can help them in later years.
Parents and grandparents may want to give some money to their children or grandchildren for the future. There are several tax-efficient ways to do this and you will need to bear these points in mind...
Since both parties are taxed separately under self-assessment, income tax does not usually cause the same problems as CGT. Any earned income, e.g., from a job, will remain taxed on the spouse that earns it....