Important accounting dates you should be aware of

Posted on:April 29, 2020

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Business accounting is a minefield of legislation, processes and dates to remember which is why it is important to consult with a Cheltenham Accountants and enlist their services to keep your finances all above board and legal.

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There are a number of different dates that are important to know relating to your business accounts. Some of these will be generic to accounting as a whole and other specific to your business. Here are a few for you to look at.

Payroll – if you have employees you will need to know a couple of dates relating to payroll that will be specific to your business. These are the date you will pay your employees, the payroll cut of date (which will be earlier in the month) for any changes to be made to wages and then the following generic accounting dates.

  • Year end PAYE deadline 19th May
  • Deadline for PAYE & NIC each month is 22nd
  • Deadline by which employees must have their P60 – May 31st

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VAT and TAx – Your VAT quarter will depend on when you first registered for VAT and you will then have specific deadlines for when you need to pay and file your VAT bills. Generic accounting deadlines for tax include:

  • Paper tax returns to be completed by 31st October
  • Electronic tax returns to be completed by 31st January
  • Tax payment deadline 31st January