TAX DIARY OF MAIN EVENTS FOR JUNE/JULY 2015

Date

What’s Due

1 June

Corporation tax for year to 31/8/14

19 June

PAYE & NIC deductions, and CIS return and tax, for month to 5/6/15 (due 22 June if you pay electronically)

1 July

Corporation tax for year to 30/9/14

6 July

Forms P11D and P11D(b) for 2014/15 tax year, and where appropriate form P9D

19 July

PAYE & NIC deductions, and CIS return and tax, for month to 5/6/15 (due 22 June if you pay electronically); payment of Class 1A NICs for 2014/15 (22 July if you pay electronically)

FORMS P11D DUE BY 6 JULY

As mentioned in the tax diary, the deadline for filing the 2014/15 returns of benefits and expenses paid to employees is 6 July 2015. Note that there can be significant penalties for incorrect returns so they need to be completed with great care. Remember that unless the employer holds a dispensation from HMRC, employees’ and directors’ reimbursed expenses (such as travel and subsistence) also need to be reported. We can assist you in completing the forms and to put in place control procedures that will satisfy HMRC requirements to grant a dispensation from reporting certain expenses.

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