Staying on top of important financial deadlines is essential for running a successful business. Missing key dates can lead to penalties, unnecessary stress, and cash flow issues. At Perfect Balance, we help businesses stay organised and compliant all year round. Here’s a clear guide to the key dates and deadlines every business owner should know.
VAT
If your business is VAT registered, you’ll need to submit VAT returns and make payments—usually every quarter.
VAT Return Deadline: 1 month and 7 days after the end of your VAT period
Payment Deadline: Same as the return deadline
For example, if your VAT quarter ends on 31 March, your return and payment are due by 7 May.
Tip: Set reminders or use accounting software to avoid missing deadlines, as late submissions can result in surcharges.
Self Assessment
If you are a sole trader or receive income outside of PAYE, you must complete a Self Assessment tax return.
Register for Self Assessment: By 5 October (following the end of the tax year)
Paper Return Deadline: 31 October
Online Return Deadline: 31 January
Tax Payment Deadline: 31 January
Payments on Account (POA)
Payments on Account are advance payments towards your next tax bill.
First Payment: 31 January
Second Payment: 31 July
Each payment is typically 50% of your previous year’s tax bill. These can catch many business owners off guard, so it’s important to plan ahead.
Annual Accounts and Tax Returns (CT600) for Limited Companies
If you run a limited company, Corporation Tax deadlines are crucial.
Annual Accounts: 9 months after company year end
Corporation Tax Payment: 9 months and 1 day after your accounting period ends
For example, if your year-end is 31 March, your tax payment is due by 1 January the following year.
Company Tax Return (CT600): 12 months after the end of your accounting period
Confirmation Statement
All limited companies must file a confirmation statement to ensure company information is up to date.
Deadline: Annually (usually 12 months after incorporation or last filing)
This confirms details such as directors, shareholders, and registered office address.
PAYE
If you employ staff, you must operate PAYE correctly.
RTI Submissions: On or before each payday
Monthly PAYE Payments: Due by the 22nd of the following tax month (19th if paying by post)
Late submissions or payments can result in penalties, so consistency is key.
Keeping track of these deadlines is vital for maintaining a healthy, compliant business. With multiple responsibilities to juggle, it’s easy to overlook important dates—but that’s where good systems (and the right support) make all the difference.