January Key Tax Dates

Newsletter issue – January 2023

1 -Two new VAT penalty regimes, for late payment and late filing, come into effect for VAT periods beginning on and after this date.

31 - Last day to file self-assessment tax returns for 2021/22 without penalty.

The balancing payment of income tax and NIC due for 2021/22 must be paid.

Any capital gains tax due from gains made in 2021/22 must be paid if it was not already paid on account within 60 days of the disposal of residential property.

The first payment on account of income tax due for 2022/23 must be paid.

Where notice to file was issued after 31 October 2022, the tax payable date is extended to three months after the date on which the notice to file was issued.

Where HMRC has issued a determination to assess tax for 2018/19 this is the last day to file the outstanding 2018/19 tax return to displace that determination.

The balancing payment of income tax and NIC due for 2021/22 must be paid.

Any capital gains tax due from gains made in 2021/22 must be paid if it was not already paid on account within 60 days of the disposal of residential property.

The first payment on account of income tax due for 2022/23 must be paid.

Where notice to file was issued after 31 October 2022, the tax payable date is extended to three months after the date on which the notice to file was issued.

Where HMRC has issued a determination to assess tax for 2018/19 this is the last day to file the outstanding 2018/19 tax return to displace that determination.

Deadline to amend the 2020/21 self-assessment tax return, or file the late 2021/22 return to avoid a tax-geared penalty.

Last day to notify liability to class 2 NIC where the self-employment commenced in 2021/22.

Where taxpayer was subject to IR35 in 2021/22 this is the last day to correct the 2021/22 RTi return and pay the outstanding class 1 NIC with no penalties due.

Deadline for updating HMRC‘s trust registration service (TRS) for trusts that became liable to tax for first time in 2021/22 and for any notifiable changes in 2021/22.

Tax credit claims for 2021/22 can be amended up to this date to correct estimated figures submitted as part of claim renewal before 31 July 2022. If July deadline was missed tax credit claim can be renewed by this date if claimant can show ‘good cause‘ for delay.

Corporation tax returns for periods to 31 January 2022 must reach HMRC.