HMRC April Deadlines

With a view to keeping you the right side of an HMRC penalty the deadlines for April 2020 are as follows:

5th April

Last date day of 2019/20 tax year. Tip: Final chance to top up ISAs and pay pension contributions for 2019/20.

Last date for sole traders and partnerships to incur capital expenditure on energy saving plant and machinery before the 100% first-year allowances are abolished. Tip: Expenditure is treated as incurred on the contract date if payments follow within four months.

Deadline for individuals to claim overpayment relief claim for 2015/16.

Employee termination payments over £30,000 become subject to employers’ NI contributions.

Deadline to register with HMRC to tax benefits in kind through your payroll for 2020/21. Tip: Register online through your HMRC employer’s account.

6th April

Large and medium-sized businesses and organisations in the private sector become responsible for deciding if the off-payroll rules (IR35) apply to workers. Tip: Use HMRC’s “check employment status for tax” tool to help you decide.

New CO2 emissions rules apply for company cars. Different rates now apply for cars registered on or after 6th April 2020.

Employment allowance will be restricted for employers with secondary Class 1 NI liability of less than £100,000

7th April

Electronic VAT return and payment due for VAT quarter ended 29th February 2020. Tip: The Chancellor announced a VAT payments deferral on 20 March to support businesses with cash flow during the COVID-19 pandemic. This means that all businesses with a UK VAT registration have the option to defer VAT payments due between 20 March and 3‌0‌‌ June. You therefore have until 3‌1‌‌ March 2021 to pay any VAT deferred as a result of this announcement. You do not need to inform HMRC if you wish to defer payment. You can opt in to the deferral simply by not making VAT payments due in this period. If you pay by Direct Debit you should cancel this with your bank. You should do so in sufficient time so that HMRC does not attempt to automatically collect on receipt of their VAT return.

19th April

PAYE/NIC payment due for March payrolls.

30th April

Last date for submission of annual tax on enveloped dwellings (ATED) return for 20/21, and any liability to be paid. Tip: ATED returns are based on the first day of the financial year ie) 1st April 2020.

Corporation Tax return filing deadline for companies with 30th April 2019 year end. Tip: The filing deadline for corporation tax is twelve months following the end on the accounting period even though the payment date ids nine months and one day from the same date.

What to do next

For further information on this and other topics contact us on 01332-369999 or through the contact page of the website

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