6 December 2018

Organise your accounts

Stay informed of your financial position. Be proactive and chase outstanding invoices. Pay those you owe. Ensure your employee pensions and retirement benefits are up-to-date. Take time to devise your sales forecast and budgets for the year. Review suppliers and rolling contracts, and ensure you're getting the most for your money.

Here are some dates to be aware of in the coming year.

Making Tax Digital (MTD) for VAT
From April 2019, businesses will be required to use a functional compatible software product to submit their returns to HMRC.

Corporation tax
Corporation tax payments are due 9 months and 1 day following your financial year end.

CIS
Returns must reach HMRC by the 19th of each month following the accounting period.

VAT
Due dates for returns and payments filed online for accounting quarter periods:

Ends 28 Feb - VAT return due 7 April
Ends 31 Mar - VAT return due 7 May
Ends 30 Apr - VAT return due 7 June
Ends 31 May - VAT return due 7 July

PAYE
Under RTI (Real Time Information), an employer must file details of any payments made to employees on or before the date that a payment is made to the employee.

Payments of PAYE and NI must reach HMRC by the 19th of the month following the tax month in which the salary payment was made if paying by cheque, or by the 22nd of the month if paying electronically.

19 April 2019
Final submission must be made to HMRC under RTI for the year
31 May 2019
P60s to be given to all employees
31 May 2019
P11d to be filed with HMRC
19 July 2019
Class 1 A payment to reach HMRC (postal)
22 July 2019
Class 1 A payment to reach HMRC (electronic)

For more information on how to build and maintain a strong HR strategy click here.

For more information on how to stay on top of your costs click here.

For more information on training and apprenticeships click here.

For more information on what's happening in the industry and brexit click here.

For more information on marketing and winning new business click here.