Important UK tax calender dates for payroll agencies

Here are some important UK tax calendar dates for payroll agencies to keep in mind:

1. 5th April: End of the tax year. Ensure all end-of-year payroll tasks are completed, including issuing P60 forms to employees.

2. 6th April: Start of the new tax year. Update payroll systems and processes for any changes in tax rates, allowances, or legislation.

3. 19th April: Deadline for submitting and paying the final PAYE (Pay As You Earn) tax and National Insurance contributions for the tax year, if paying electronically.

4. 31st May: Deadline for providing employees with a copy of their P60 form for the previous tax year.

5. 6th July: Deadline for reporting employee expenses and benefits for the previous tax year using form P11D(b), and for paying Class 1A National Insurance on expenses and benefits provided to employees.

6. 19th July: Deadline for submitting and paying Class 1A National Insurance contributions on employee expenses and benefits if paying by cheque.

7. 31st October: Deadline for filing paper tax returns for individuals not registered for self-assessment, though this is less relevant for payroll agencies.

8. 31st January: Deadline for filing online tax returns for individuals registered for self-assessment. Also, the deadline for paying any outstanding tax liabilities for the previous tax year.

9. 19th April, 19th July, 19th October, 19th January: Quarterly deadlines for submitting PAYE tax and National Insurance information to HMRC under the Real Time Information (RTI) system, if applicable.

10. Annual compliance deadlines: Stay informed about any other annual compliance deadlines specific to payroll and tax regulations that may affect your agency or your clients.

It’s crucial for payroll agencies to keep track of these dates to ensure compliance with HMRC regulations and to avoid penalties for late submissions or payments. Additionally, staying ahead of deadlines helps maintain smooth operations and fosters trust with clients.