As we step into 2025, businesses and individuals must keep track of key tax deadlines to ensure compliance and avoid unnecessary penalties. Here’s a comprehensive guide to the most important tax dates for the year ahead, along with useful tips to help you stay on top of your financial obligations.
February 2025
- 1 February – Corporation Tax payment due for companies with accounting periods ending on 30 April 2024. Tip: Ensure your financial records are updated and payments are made on time to avoid penalties.
- 7 February – VAT returns and payments due for the quarter ending 31 December 2024. Tip: Double-check for any necessary adjustments, especially on input VAT for year-end stock.
- 19 February – CIS monthly payments due for the previous month. Tip: Verify subcontractor payments and deductions to ensure accuracy.
- 22 February – PAYE & NICs payments due for the previous month. Tip: Maintain accurate employee records to avoid discrepancies.
April 2025
- 5 April – End of the 2024/25 tax year. Tip: Consider making final pension or ISA contributions for tax efficiency.
- 6 April – Start of the 2025/26 tax year. Tip: Stay updated on any changes to tax thresholds and reliefs.
- 30 April – ATED tax return and payment deadline for the period 1 April 2025 to 31 March 2026. Tip: Ensure property valuations are accurate and up-to-date if applicable.
July 2025
- 31 July – Second payment on account for Self-Assessment for the 2024/25 tax year. Tip: If your income has changed, adjust your payment on account to avoid over- or underpaying.
October 2025
- 5 October – Deadline for registering for Self-Assessment if you have new income sources for the 2024/25 tax year. Tip: Register early if newly self-employed or if you have additional income to report.
November 2025
- 19 November – VAT returns and payments due for the quarter ending 30 September 2025. Tip: Regularly review VAT records to identify discrepancies early.
January 2026
- 31 January – Deadline for submitting your online Self-Assessment tax return for the 2024/25 tax year. Tip: Don’t leave it until the last minute—file early to avoid last-minute stress.
- 31 January – Final payment of any taxes owed for the 2024/25 tax year. Tip: Plan ahead and account for any outstanding balances to avoid penalties.
Final Thoughts
Staying informed about key tax deadlines is crucial for financial stability and compliance. Make use of accounting software, set reminders, and consult a tax professional to ensure you meet your obligations smoothly.
By planning ahead and keeping accurate records, you can avoid penalties and optimise your tax efficiency in 2025 and beyond.
Need help navigating your tax obligations? Get in touch with our accounting team for expert guidance. Contact Burgis & Bullock for any accounting needs—you can rely on their expertise to keep your finances in check and ensure full compliance with all tax requirements. info@burgisbullock.com | 0345 177 5500 |