Important Tax Deadlines for January 2025:

Share
by scaadmin
by scaadmin scaadmin

Don’t Miss These Crucial Dates

As businesses kick off the new year, January brings several critical HMRC deadlines. Here’s what you need to know:

January 31st: The Big Deadline

  • Self Assessment tax returns must be submitted online
  • Payment required for:
    • Balancing payment for 2023/24 tax year
    • First payment on account for 2024/25

VAT Returns

For quarterly VAT returns, deadlines fall on:

  • January 7th (for period ending November 30th)
  • January 31st (for period ending December 31st)

PAYE and National Insurance

  • January 19th: Monthly PAYE and NI payments due
  • January 22nd: Electronic PAYE/NI payments must clear HMRC’s account

Construction Industry Scheme (CIS)

  • January 19th: Monthly CIS returns and payments due
  • Submit statements of deductions for subcontractors

Planning Ahead

Consider:

  • Setting up payment plans if struggling to meet tax obligations
  • Gathering all necessary documents early
  • Double-checking calculations before submission

Need help staying compliant? Forest Bookkeeping in Rushden provides expert support for all your tax and accounting needs. Contact us to ensure you meet these crucial deadlines by calling 01933 213223.

Remember: Late submissions can result in penalties. Get in touch now to avoid unnecessary charges and start 2025 right.