Are you aware of all your business deadlines?  It could prove to be very costly if you are not on top of these.

If you are a limited company:

• your abbreviated accounts must be filed at companies house within 9 months of your year end,
• your annual return must be filed annually at a cost of £14 (if filed online),
• corporation tax is due 9 months and 1 day after your year end,
• corporation tax return must be filed online within 12 months of your year end,
• full company accounts must be filed with HMRC within 12 months of the year end.

If you are an employer:

• If you have a payroll the Employers Annual Return, form P35 must be filed by 19thMay,
• Staff must be issued with their P60’s by 19th May,
• Any P11D’s must be reported to HMRC via form P11D(b) by 5 July,
• PAYE must be paid either monthly or quarterly (depending on your agreement with HMRC),
• Any Class 1a National Insurance Liability must be paid by 19th July.

If you are a sole trader:

• Accounts should be prepared, and a Self Assessment Tax Return must be filed, if on paper by 31 October, if online by 31 January,
• Self Assessment tax should be paid by 31 January (possible 31 July also if you owe more than £1,000),
• Class 2 National Insurance should be paid either monthly or quarterly depending on your agreement with HMRC,
• You must register as self employed with HMRC (this can be done over the phone) within 3 months.

If you are a director:

• You will need to prepare a Self Assessment Tax return annually to 5 April, this will then be due by 31 October (if on paper) and 31 January (if online),
• Any tax due will be payable by 31 January (and 31 July if more than £1,000)
• If you wish your tax to be collected via your PAYE code, you must submit your return by 31 October.

If you are VAT registered:

• You must register for VAT within 30 days after you exceed the VAT registration limit,
• VAT returns must be submitted online within 30 days of the end of your quarter,
• VAT liability is due within 30 days of the end of your quarter.