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Key deadlines

Payment deadlines

Self assessment 2017/18 2016/17
1st payment on account 31 January 2018 2017
2nd payment on account 31 July 2018 2017
Balancing payment 31 January 2019 2018
Capital Gains Tax 31 January 2019 2018
National insurance
Class 1A NIC 19 July 2018 2017
Class 1B NIC 19 October 2018 2017

Notes

  1. Payments on account for 2017/18 are based on 2016/17 self assessed Income Tax and Class 4 NIC.
  2. Non-residents with gains on UK residential property must pay CGT within 30 days of disposal, unless already filing a self assessment tax return.
  3. Missing any payment dates leads to interest being charged at 3%.
  4. Missing the balancing payment date by 30 days will lead to a 5% penalty.
  5. When the balancing payment is six and12 months late, further 5% penalties apply on each occasion.
  6. Employment income is charged to both Income Tax and to Class 1 NIC.
  7. Tax and NIC are normally paid by the employer through the PAYE system, under which the PAYE code makes adjustments for tax reliefs due and some tax due on other income.
  8. Where a payment date is the 19th of the month, any cheque must reach HMRC by that date, or the business day preceding it (if the 19th falls on a week-end or Bank Holiday). Online payments can reach HMRC by 22nd of the month without incurring interest.
  9. An employee who has overpaid or underpaid tax at the end of the year will normally receive a tax calculation from HMRC on form P800 and shortly afterwards receive a tax repayment, or be asked to pay any tax due.
  10. If the tax underpaid is no more than £3,000, the underpayment can be settled through PAYE in the following tax year.

Filing deadlines

For tax year 2016/17
Issue P60s to employees 31 May 2017
P11D and P11D(b) 6 July 2017
Paper version of self-assessment return 31 October 2017
Online self-assessment return 31 January 2018

Notes

  1. Where taxpayers submit the 2016/17 self assessment tax return by 30 December 2017, they can request that underpaid tax, within limits, is collected through PAYE code in the following tax year.
  2. A late filing penalty of £100 will be issued if the self assessment return is not submitted within the deadlines indicated above. This applies even if no tax is due.
  3. Further late filing penalties are due if the self assessment return is more than three, six and 12 months late.