March tax deadlines
With February come and gone, March brings on the next set of year end deadlines which could affect your business!
But … Don’t let April catch you by surprise! While you’re flipping your calendar to March, remember that the big tax deadline is just around the corner, right at the start of April.
Thank us later !
1st March
Corporation tax payment due (for companies with a 31st May 2024 year end)
7th March
VAT Return and payment due for January quarter end.
If you pay by Direct Debit this will be taken on or around the 10th March
19th & 22nd March
CIS Return (Construction Industry Scheme) due 19th Feb
& Payment due 6th February 2025 – 5th March 2025.
22nd March
PAYE payment. Due for tax month 11 for pay period 6th Feb 2025 – 5th March 2025
31st March
Company accounts for year ending 30th June 2024 to be summited to Companies House
31st March
Corporation Tax Return for period ending 31st March 2024 to be submitted to HMRC
5th April
Year-End Tax Breaks
With the tax year wrapping up soon, here’s a friendly reminder of some key allowances you should consider:
Pension Savings
You can put up to £60,000 (or 100% of your earnings if lower) into your pension this year and get tax relief. Even better – if you haven’t used your full allowances in the last three tax years, you might be able to “catch up” and add extra. This is perfect if you’ve had a good year financially or received a bonus.
ISA Allowance
Don’t forget your £20,000 ISA allowance! This is basically a tax-free wrapper for your investments. Once 5th April passes, you can’t carry this allowance forward – it’s gone for good. Available to anyone over 18, with special versions for under-40s (Lifetime ISAs) and kids (Junior ISAs).
Company Dividends
Running your own company? You can take out £500 in dividends tax-free this year. This allowance disappears at midnight on 5th April if you don’t use it.
Get your accounting in shape
Tax is annoying, hard and confusing.
Get in touch with us today for a little freedom from it.
