Missing tax deadlines can cost your business thousands in penalties. HMRC collected over £1.2 billion in penalties during 2024, with small businesses accounting for nearly 60% of these fines.
The 5 Critical Deadlines:
VAT Returns – Quarterly Due one month and seven days after each quarter ends. Late penalties start at £100 and can reach £400 for repeat offenses. Set up MTD-compatible software to automate submissions.
Corporation Tax Returns – 12 Months After Year End Due exactly 12 months after your accounting period ends. Penalties start at £100 after 3 months late, escalating to £500+ for extended delays, plus 4.25% annual interest on unpaid tax.
Self-Assessment – 31st January 2026 For 2024/25 tax year. £100 automatic penalty for being even one day late, escalating to £10 daily penalties and percentage-based fines for longer delays.
PAYE RTI – Every Payday Submit payroll information on or before each payment date. Monthly penalties range from £100 (1-9 employees) to £400 (250+ employees).
Companies House Accounts – 9 Months After Year End Annual accounts filing deadline. Penalties start at £150 and can reach £1,500, with companies facing dissolution proceedings after 6 months.
Avoiding Deadline Stress
Create multiple calendar reminders, prepare documents 6-8 weeks early, maintain organised records year-round, and consider professional support to ensure compliance.
Professional tax management costs far less than penalties and eliminates the stress of deadline management entirely.
