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Don't Miss the Deadline! Your Essential Personal Tax Return Calendar

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Don't Miss the Deadline! Your Essential Personal Tax Return Calendar

Don't Miss the Deadline! Your Essential Personal Tax Return Calendar

That’s why we’ve created this simple guide to the key dates you need to know for your Personal Tax Return. Mark these in your calendar today to avoid penalties and stay in control of your finances.

Understanding the Tax Year

First, a quick reminder: the UK tax year runs from 6th April to 5th April the following year. The deadlines we’re discussing below relate to the 2023/24 tax year (6th April 2023 to 5th April 2024).

Key Dates for Your Personal Tax Return Diary

1. 6th April 2024: The Starting Gun

This is the first day you can officially file your Personal Tax Return for the 2023/24 tax year. Once this date passes, your online account with HMRC will be ready to accept your submission.

  • Our Pro Tip: Don’t wait! Gathering your information early (like P60s, P11Ds, and records of self-employed income) means you can submit as soon as you're ready, getting any potential refund faster and avoiding the last-minute rush.

2. 31st October 2024: The Paper Return Deadline

If you prefer to submit your tax return the old-fashioned way, this is your absolute deadline. Paper forms must be received by HMRC by this date.

  • Why This Matters: Missing this deadline for a paper return results in an automatic penalty, even if you have no tax to pay. For this reason, and for its ease and efficiency, we almost always recommend filing online.

3. 31st January 2025: The Online Submission & Payment Deadline

This is the big one. Your online Personal Tax Return must be filed, and any outstanding tax must be paid, by midnight on 31st January 2025.

This date covers two crucial obligations:

  • Filing Your Return: Submitting your completed online Personal Tax Return.

  • Paying Your Tax: Settling your Income Tax and National Insurance bill for the 2023/24 tax year. This payment also includes the first ‘payment on account’ (an advance payment) for the following tax year.

 The Cost of Missing the 31st January Deadline:

  • An immediate £100 fixed penalty for late filing, even if you have no tax to pay.

  • Daily penalties if the return is more than three months late.

  • Interest and surcharges on any tax paid late.

4. 31st July 2025: The Second Payment on Account

If you make payments on account, your second instalment for the 2024/25 tax year is due on this date. We’ll help you calculate if these payments apply to you and ensure you’re not over or under-paying.

Let Payless Accountant Be Your Guide

Keeping track of these dates is one thing; preparing an accurate and optimised Personal Tax Return is another. The team at Payless Accountant is here to take the entire process off your hands.

We will:

  • Handle all the paperwork and complex calculations.

  • Ensure you claim all the allowances and reliefs you’re entitled to.

  • File your return accurately and on time, every time.

  • Advise you on your tax bill and payment schedule.

Don't let tax deadlines add unnecessary stress to your year. Get in touch with Payless Accountant today, and let us secure your peace of mind.

[Contact Payless Accountant Now for a Free Consultation!]

Disclaimer

This blog post provides general information about UK tax deadlines and is for informational purposes only. It does not constitute individual financial or tax advice. Tax rules and rates can change, and your personal circumstances will determine how they apply to you. While we strive to provide accurate and timely information, Payless Accountant cannot be held responsible for any errors or omissions, or for any actions taken based on this content. We strongly recommend seeking professional advice from a qualified accountant, like our team at Payless Accountant, to discuss your specific situation.