What accounting deadlines should I know?

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There are many reasons to form a limited company. From the chance to become your own boss to enjoying a more tax-efficient business structure, it’s no surprise that thousands of professionals up and down the country are making the leap.

Of course, nothing in life is free. In return for the mountain of benefits on offer, you’ll need to put in a bit more legwork than you would as an umbrella contractor – seems only fair, right?

Just one of the additional responsibilities you’ll be required to shoulder is filing your own accounts with HMRC and Companies House. Each report comes with its own deadline to remember, with penalties in place if you forget.

While some deadlines are the same across the board, others will be unique to your company. This means you’ll need to be on your toes if you want to remain whiter than white.

Thankfully, help is at hand. Here’s a quick rundown of the deadlines you’ll need to be aware of.

Accounting Deadlines Unique to Your Company
Details Deadline
File first year accounts with Companies House 21 months after your company's incorporation date
File annual accounts with Companies House 9 months after your company's financial year ends
Pay Corporation Tax (or tell HMRC that you don't owe any) 9 months and 1 day after your accounting period for Corporation Tax ends
File a Company Tax Return 12 months after your accounting period for Corporation Tax ends
Submit VAT return 1 month and 7 days from the end of your VAT quarter
Make VAT payments 1 month and 7 days from the end of your VAT quarter
General Accounting Deadlines
Details Deadline
End of tax year 5th April
Start of the new tax year 6th April
File P35 (Employed Annual Return) & P14 19th May
Provide P60 to all employees (for previous tax year) 31st May
Return P11D, P11D(b) and P9D (if applicable) 6th July
Transfer any liabilities for Class 1A National Insurance to HMRC (for previous tax year) 19th July
Make second payment on account (if applicable) 31st July
Submit paper self-assessment tax return (if applicable) 31st October
Make first payment on account (if applicable) 31st January
Make Capital Gains Tax payment 31st January
Final date to submit self-assessment tax return (£100 penalty if filed after this date) 31st January
Make PAYE and National Insurance Payments for previous month's salary 19th of each month or quarterly depending on payment cycle (22nd for electronic payments)

Want more accounting help?

We hope this guide has helped shed some light on the different accounting deadlines you’ll need to be aware of as a limited company contractor. If you’d like a bit more detail, don’t panic as help is at hand.

At ClearSky Contractor Accounting, we’re committed to making the lives of our clients as hassle-free as possible. That’s why we have a dedicated team of personal accountants on hand to help you remember the various deadlines.

We’ll keep you up to date on all your accounting obligations, giving you complete peace of mind so you can get on with what you do best.

We’re with you all the way throughout your contracting career. Whether it’s help with remembering important deadlines, guidance with IR35 or tax-efficiency tips, our extended opening hours mean we’re available at a time to suit you.

For more information, or to join us, please call 0800 032 5326 or email enquiry@clearskyaccounting.co.uk.