You can earn certain allowances and tax-free income during a tax year. Apart from those, you are entitled to pay tax on the income you generate across the tax year. Knowing the UK tax year dates can assist you in planning your personal financial budget and ensuring that any tax deadlines are met. It is crucial that you know the important deadlines for filing your tax return to avoid further penalties. For example, if you are working under PAYE, you may only claim back overpaid tax for the previous four tax years.
What are the Dates of UK Tax Year Period?
The UK Tax year starts from April 6th to – April 5th. The tax year is a 12-month term that you have to follow while dealing with your tax issues for both employed and self-employed income taxpayers.
Self Assessment deadlines in the UK?
- October 5th – Self-Assessment Registration
- October 31st – Income Tax Filing deadline (paper)
- January 31st – Income Tax Filing deadline (online)
The Dates of UK Tax year Payment Deadlines
- January 31st – Income tax payment deadline
- July 31st – If you make advances on your bill, known as payments on accounts, you may have a second payment date.
- October 31st – Class 2 National Insurance Contribution Deadline
What is the penalty for missing the tax deadline?
Due to the pandemic, you will not get a penalty if you have submitted your online return by February 28th 2022.
You will also be free from late payment penalties if you pay your tax in full or enter into a payment plan before April 1st, 2022.
If you pay after the deadline dates of the uk tax year of January 31st 2022. However, you are still charged interest starting on February 1st 2022.
Tired of spending hours preparing your income tax return? Do you want your taxes done in just a few minutes?
Sign up for our Self-Assessment Tax Return and let the experts file your return for you.