Filing Deadlines

The government departments increasingly impose penalties where filing deadlines are not met. The following might impact on you and your company so please be aware of them and help us to avoid any being incurred. We do provide these on our spreadsheet tailored to your individual company.

Companies House : Accounts to be lodged with 9 months of the accounting reference date (or 21 months from the date of incorporation of the company) otherwise £150 penalty is incurred if not more than a month late, rising to £375 if between 1 and 3 months late and escalating every three months thereafter.

Corporation Tax : Payment due 9 months after the accounting period (normally the accounting year end). Interest runs from that date but no penalty.

Corporation Tax Return : Has to be lodged 12 months after the accounting period otherwise a £100 penalty which then escalates.

PAYE payments : are due by the 19th of each month unless the liability is less than £1,500 in which case can be paid quarterly. A very severe penalty of £100 per month is incurred if the monthly/quarterly returns are not lodged by the due date.

PAYE end of year return : due by 19th May otherwise penalty of £100 per month incurred.

P11D return of benefits : to be lodged by 5th July otherwise penalties of £100 per month incurred.

Class 1a National Insurance : payable at 13.8% (the employers NI rate) on most benefits provided by an employer for its employee as returned on the P11D.

Self assessment : tax return has to be filed by 31st January following the year of assessment otherwise £100 penalty is incurred. If the return is 3 months late, a further £10 per day thereafter will apply, up to a maximum of £900, in addition to the £100 above. If 6 months late, a further £300, or 5% of the tax due (whichever figure is higher) is also payable. The same applies again (£300 or 5% of tax) if the return is then 12 months late.

Personal income tax : if any balance is outstanding a 5% surcharge is incurred if not paid by 28th February following the year of assessment.

VAT : returns submitted quarterly with surcharges starting at 2.5% and escalating for late returns. The first late return is free of penalty and once incurred you have to be on time for 12 months before the clock starts again.

VAT registration : a late registration penalty can be incurred if Customs are not notified when the annual turnover exceeds the registration limit, currently £73,000 per annum.

If you have any queries about filing deadlines or are interested in hearing more about how CTS can help your business, please contact Jon Dale on 01743 235 236 or email