hmrc deadline

As we approach April, the end of the tax year brings several important deadlines for businesses and individuals. At Forest Bookkeeping, we’re committed to helping you stay ahead of your tax obligations. Here’s a comprehensive breakdown of the key HMRC dates to be aware of in April 2025.

Early April Deadlines

5th April 2025

• End of the 2024-25 Tax Year – The current tax year officially ends. Ensure all relevant financial records are up to date.
• P46(car) Electronic Submission – Deadline for the quarter to 5th April 2025.
• National Insurance Contributions – Final day to pay voluntary Class 2 or Class 3 NI contributions for the 2018-19 tax year.

6th April 2025

• Start of the 2025-26 Tax Year – The new tax year begins, with any new tax rates and thresholds coming into effect.

7th April 2025

• VAT Return and Payment – Due date for online submission and payment for month-end or quarter ending 28th February 2025.

Mid-April Deadlines

14th April 2025

• CT61 Returns – Deadline for return and payment for the quarter ended 31st March 2025.

19th April 2025

• PAYE, NIC and CIS Payment (Postal) – Due date for month-end 5th April 2025.
• PAYE, NIC and CIS Payment (Postal) – Due date for quarter-end 5th April 2025.
• CIS Return – Deadline for reporting payments made to subcontractors in the month to 5th April 2025.

22nd April 2025

• PAYE, NIC and CIS Payment (Electronic) – Due date for month-end 5th April 2025.
• PAYE, NIC and CIS Payment (Electronic) – Due date for quarter-end 5th April 2025.

End of April Deadlines

30th April 2025

• Plastic Packaging Tax – Return and payment deadline for quarter-end 31st March 2025.
• Corporation Tax Returns – Filing deadline for companies with a year-end of 30th April 2024.
• Annual Tax on Enveloped Dwellings (ATED) – Deadline for return and payment (or relief declaration) for properties within scope on 1st April 2025.
• Non-resident Landlord Scheme – Payment of tax due for the quarter ended 31st March 2025.
• Inheritance Tax – Payment deadline for IHT on lifetime transfers made between 6th April and 30th September 2024.

Looking Ahead – Future Deadline

30th June 2025

• Corporation Tax Payment – Payment deadline for companies with a year-end of 30th June 2024.

How Forest Bookkeeping Can Help
Staying on top of these deadlines is crucial to avoid penalties and maintain good financial practices. At Forest Bookkeeping, we provide:

• Timely reminders for upcoming deadlines
• Assistance with preparing and submitting returns
• Advice on tax planning and optimisation
• Support with navigating complex tax regulations

We understand that managing these obligations can be challenging alongside running your business. Our team is here to ensure you meet all requirements efficiently and accurately.

Contact Us
If you need assistance with any of these deadlines or have questions about your tax obligations, don’t hesitate to reach out to our team. We’re here to help ensure your business remains compliant and financially healthy.

Email: sean@forestbookkeeping.co.uk
Phone: 01933 213 223

Disclaimer: This information is accurate as of March 2025. Please verify specific requirements for your situation as tax regulations may change. This blog post is intended as general guidance only and should not be considered as professional advice.

Starting a new business is exciting, but managing your books effectively from day one is crucial for long-term success. As experienced bookkeepers serving Rushden and surrounding areas, we’ve helped numerous start-ups establish strong financial foundations. Here are our top tips for managing your business finances effectively.

Separate Business and Personal Finances Immediately

Create dedicated business bank accounts before making your first transaction. This separation simplifies tax reporting, provides clearer insights into business performance, and helps maintain professional relationships with suppliers and HMRC.

Embrace Digital Tools Early

With Making Tax Digital (MTD) requirements expanding, choosing the right accounting software is essential. Look for solutions that integrate with your bank accounts, capture receipts digitally, and generate real-time reports. Popular options include QuickBooks and  Xero.

Establish Regular Bookkeeping Routines

Set aside specific times each week for financial tasks:

• Record all transactions and reconcile bank statements
• File receipts and invoices digitally
• Review outstanding payments and chase late invoices
• Monitor cash flow and upcoming payment obligations

Understand Your Tax Obligations

New businesses must register with HMRC and understand their tax responsibilities:

• Self Assessment or Corporation Tax returns
• VAT registration (if turnover exceeds £85,000)
• PAYE if employing staff
• National Insurance contributions

Keep track of deadlines and set aside funds for tax payments to avoid cash flow issues.

Maintain Detailed Records

Create systems for tracking:

• Sales invoices and purchase receipts
• Business expenses
• Mileage logs
• Asset purchases
• Client and supplier contracts

Proper documentation supports tax claims and provides insights for business decisions.

Plan for Growth

Good bookkeeping enables:

• Accurate cash flow forecasting
• Informed investment decisions
• Better relationships with lenders
• Early problem identification
• Strategic business planning

Consider Professional Support

While managing your own books initially can help understand your finances, professional bookkeeping support often becomes valuable as your business grows. It ensures compliance, identifies tax-saving opportunities, and frees your time for core business activities.

Get Started Right

At Forest Bookkeeping, we specialise in helping Rushden start-ups establish effective financial systems. Contact us to discuss how we can support your business journey with tailored bookkeeping solutions that grow with you.

Forest Bookkeeping provides professional bookkeeping services in Rushden and surrounding areas. Contact us for a free consultation about your start-up’s bookkeeping needs.

As the new year begins, it’s the perfect time to get your business finances in order. Here’s your comprehensive guide to starting 2025 on the right financial footing.

1. Review Your Past Year’s Performance
Before moving forward, take a thorough look back at 2024:

• Compare your actual revenue and expenses against projections
• Identify your most profitable months and services
• Review client payment histories
• Analyse any cash flow challenges you faced

2. Organise Your Financial Records
Start the year with clean, organised books:

• Reconcile all bank accounts and credit cards
• File and digitise all receipts
• Ensure your accounting software is up to date

3. Set Clear Financial Goals

Establish specific, measurable targets for 2025:

• Monthly revenue objectives
• Profit margins for each service or product
• Debt reduction targets
• Emergency fund goals

4. Create a Realistic Budget
Develop a working budget that reflects your business reality:

• Break down expected monthly income
• List all fixed and variable expenses
• Include tax obligations
• Build in a buffer for unexpected costs

5. Implement Better Systems
Put efficient processes in place to save time:

• Set up automatic bill payments
• Use cloud accounting software
• Create invoice templates
• Establish a regular financial review schedule

6. Plan for Tax Obligations
Stay ahead of your tax responsibilities:

• Schedule tax payment reminders
• Set aside money for quarterly payments
• Consider consulting a tax professional

7. Invest in Growth
Allocate resources for business development:

• Set aside funds for marketing
• Budget for professional development
• Plan for equipment upgrades
• Consider expansion opportunities

Take Action Today

Don’t wait to implement these changes. Start with one area and gradually work through the rest. Need help getting your finances organised? Forest Bookkeeping offers comprehensive financial planning and bookkeeping services to help you achieve your business goals in 2025.

Contact us today for a free consultation and start your journey toward better financial management.

Forest Bookkeeping – Your Partner in Financial Success

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.