Tax Tables
2023/24

Main due dates for tax payment

Income Tax, NICs and Capital Gains Tax – Self-Assessment

31 Jan in tax year
Following 31 July
Following 31 Jan

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Normally 50% of previous year’s income tax (less tax deducted at source) and class 4 NICs
Balance of income tax, class 4 NICs, CGT and all class 2 NICs

Inheritance Tax

On death:

Normally 6 months after end of month of death

Lifetime transfer 6 April–30 September:

30 April in following year

Lifetime transfer 1 October–5 April:

6 months after end of month of transfer

Capital gains tax – Residential UK Property

Report and pay within 60 days of completion of conveyance of the property

Corporation Tax – Self-Assessment
  • Profits under £1,500,000: 9 months + 1 day after end of accounting period
  • Profits £1,500,000 to £20,000,000: normally payable in 7th, 10th, 13th and 16th months after start of the accounting period
  • Profits over £20,000,000: normally payable in 3rd, 6th, 9th and 12th months after start of the accounting period
  • Growing companies: no instalments where profits are £10,000,000 or less and the company was not a large company for the previous year.

 

2023/24 Tax Calendar

Make the payment on the previous working day where the due date falls on a weekend/bank holiday.

Every month

19 Submit CIS contractors’ monthly return.

22 Pay class 1A NICs (19 July if not paying electronically).

Month end

Submit CT600 for year ending 12 months previously.

Last day to amend CT600 for year ending 24 months previously.

April 2023

1 New corporation tax rates come into force. R&D tax reliefs amended.

6 New additional and top rate income tax thresholds, dividend allowance and capital gains tax annual exempt amount come into force. SEIS personal investment limit rises to £200,000. Start of transitional year for basis period reforms.

July 2023

5 Last date to agree a new PAYE Settlement Agreement (PSA) for 2022/23.

6 Deadline for employers to return forms P11D (expenses) and P11D (b) (benefits) for 2022/23 to HMRC and provide copies to employees.

22 Pay class 1A NICs (19 July if not paying electronically).

31 Confirm tax credit claims for 2022/23 and renewal for 2023/24. Second payment on account for 2022/23 income tax and class 4 NICs.

August 2023

1 Penalty of 5% of the tax due or £300, whichever is the greater, where the 2021/22 tax return has not been filed.

October 2023

5 Deadline to register for self-assessment for 2022/23.

22 Pay tax and class 1B NICs on PSAs (19th if not paying electronically).

31 Deadline for 2022/23 tax return if filed on paper.

December 2022

30 Deadline to submit 2022/23 tax return online to have underpaid PAYE tax collected through the 2024/25 tax code.

January 2024

31 Submit 2022/23 self-assessment tax return online. Pay balance of 2022/23 income tax, class 4 NICs, CGT and all class 2 NICs, plus first payment on account for 2023/24 income tax and class 4 NICs.

February 2024

1 Initial penalty imposed where the 2022/23 tax return has not been filed or has been filed on paper after 31 October 2023.

March 2024

1 Last day to pay 2022/23 tax to avoid automatic 5% penalty.

 

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