2019/20 Tax Year Key Dates

Our 2019/2020 tax year planner has put together all the major dates for the period from 6th April 2019 to the 5th April 2020.

Some only apply to PAYE taxpayers, some are only relevant for the self employed and, if you’re a bit of both, you’ve got everything you need in one place. It makes sense to take a few minutes now to get these key financial dates into your work calendar. It’s much less stressful when you plan towards HMRC deadlines, than them being a sudden nasty shock. 

Our 2019/2020 tax list is in chronological order, starting with the 1^st April with the introduction of making tax digital for VAT and from the 6^th April 2019 when the new tax year starts. Have a good look through and make a note of all the information that applies to you.

Major dates for the 2019/2020 tax year

1st April 2019

• Introduction of making tax digital for VAT

5th April 2019:

• Deadline to submit a PAYE tax rebate claim for the 2014/15 tax year.

6th April 2019:

• Start of the 2019/2020 financial year.
• Tax bands and Personal Allowance amounts announced in the Autumn Budget are implemented.
• This means that new tax codes are issued. All taxpayers should check their new tax code is right.
• 2018/19 PAYE tax rebate claim can be submitted.
• Get your paperwork together for 2018/19 Self assessment tax return. You need evidence of all your income streams; including property, pension and your earnings.

31st May 2019:

• Self employed people with employees must give them their 2018/19 P60 certificate.
• Employed taxpayers should check that they have been issued with a 2018/19 P60 certificate.

6th July 2019:

• Deadline for resolution of 2018/19 payment settlement agreements.
• Make sure you have your 2018/19 P11d. Your employer will issue this.
• Deadline for second payment on account of 2018/19 tax year, if you are self employed.

5th October 2019:

• SA1 form deadline, if you need to declare any property income.
• CWF1 deadline to tell HMRC you are self employed.

31st October 2019:

• Deadline for submitting a your self assessment tax return on paper is midnight on this date.
• Deadline for any Capital Allowances claims for tools bought in the 2015/16 financial year, for PAYE taxpayers.

30th December 2019:

• Deadline to ask HMRC to pay self assessment tax through your PAYE tax code for 2017/18 tax year. Only available as an option if you have less than £3,000 tax to pay.

31st January 2020:

• Deadline for self assessment tax returns submitted online, by midnight on this date.
• Deadline to completely payment of 2018/19 tax bill.

5th April 2020:

• Deadline to apply for 2015/2016 tax year PAYE tax rebate.
• The 2019/2020 financial year ends.

Why am I thinking about the whole financial year at once?

It is wise to look at an overview of your financial year now and plan everything into your work schedule. You do not want to miss any of HMRC’s deadlines and end up with a fine. It is much less hassle to get to grips with how each of these elements affects you.

Gather your information now, find out anything you don’t know and schedule the interim steps. Lots of people find their answers in our free income tax guides and tax FAQs, but you are also welcome to give us a call with any uncertainties.

Not everything on this list will apply to you and sometimes a simple restructuring of admin systems can make the whole tax compliance process much less painful. Just don’t wait until the week before a deadline to initiate it.