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Ferrari launches two new 812 Competizione models costing £500k
Wed, 05 May 2021 22:46:15 GMT

The Italian car-maker took the wraps of its new 812 Competizione - in both hard-top coupe and a surprise Targa version - with prices expected either side of half a million pounds each.

Archegos Capital hedge fund teeters on the brink of collapse
Wed, 05 May 2021 21:39:26 GMT

Archegos Capital, which managed the money of high-flying financier Bill Hwang (pictured), was sent reeling in March after several of its bets turned sour. It is now reportedly preparing for insolvency.

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SKY Business News

US move on vaccine intellectual property is a 'monumental moment' in COVID-19 fight
Wed, 05 May 2021 21:32:00 +0100

The head of the World Health Organization says the US backing of a proposed waiver of intellectual property rights for COVID vaccines is a"monumental moment"in the fight against the virus.

'Accidental' boom in cannabis products could see annual sales hit£690m
Wed, 05 May 2021 22:24:00 +0100

Sales of consumer cannabis products have undergone an"accidental"boom during the pandemic that will see the popularity of cannabinoids exceed the market for Vitamins B and C combined, according to industry groups.

Boycott threatened over Shell's sponsorship of Science Museum carbon capture exhibition
Wed, 05 May 2021 22:59:00 +0100

Climate activists say they'll call for people to boycott a new exhibition at London's Science Museum if the oil company Shell isn't dropped as a major sponsor.

French fishing fleet heads for Jersey as Royal Navy ship arrives on station
Wed, 05 May 2021 20:11:00 +0100

A fleet of French fishing boats is heading for Jersey after threatening to blockade the island's main port over a post-Brexit fishing row.

Uber hit with $600m UK drivers' bill after being forced to classify them as workers
Wed, 05 May 2021 21:25:00 +0100

Uber has set aside $600m (£430m) to resolve"historical claims"relating to its private hire drivers in the UK after it lost a legal battle over their employment rights.

Tax Calendar

Grey date boxes denote Personal Tax dates whilst blue date boxes denote Business Tax dates.

Use the open link to see a more detailed explanation.

March 19
2021
PAYE and CIS deductions are due for the month to 5 March 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 March 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 March 2021.

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April 05
2021
End of Tax financial year.

Last day to use the 2020/21 ISA investment limit

Last day to use the 2020/21 capital gains tax exemption

Last day to utilise 2020/21 inheritance tax exemptions

Taper relief for business and non business assets is withdrawn as also is indexation allowance

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April 19
2021
PAYE and CIS deductions are due for the month to 5 April 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 April 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 April 2021.

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May 03
2021
Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 April 2021

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where there is a change in provision for example a new or additional car is provided, or an employee ceases to have the use of a car. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.

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May 19
2021
PAYE and CIS deductions are due for the month to 5 May 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 May 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 May 2021.

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May 31
2021
Last day to issue 2019/20 P60s to employees

Employers are required to issue P60s to employees.

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June 19
2021
PAYE and CIS deductions are due for the month to 5 June 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 June 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 June 2021.

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July 19
2021
PAYE and CIS deductions are due for the month to 5 July 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 July 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 July 2021.

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July 31
2021
Second £100 penalty if 2019/20 tax return due on 31 January 2020 still outstanding.

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, class 4 NI and any capital gains tax liabilities. There is an additional penalty imposed on 31 July 2020 if your return for 2019/20, which was due for submission by 31 January 2020, has still not been submitted.

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July 31
2021
Second payment on account 2020/21 due

Second 5% surcharge on any 2020/21 outstanding tax due on 31 January 2021 still remaining unpaid. The balance of any outstanding income tax, class 4 NI and capital gains tax for the year ended 5 April 2020 was due for payment by 31 January 2021. Where any of the liability is still outstanding a 5% surcharge will be added to the outstanding liability. Interest is charged on any late payments. The second payment on account in respect of income tax and any class 4 NI is also due for payment by 31 July 2021.

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August 02
2021
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5 July 2021

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where there is a change in provision for example a new or additional car is provided, or an employee ceases to have the use of a car. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.

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August 19
2021
PAYE and CIS deductions are due for the month to 5 August 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 August 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 21 August 2021.

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September 19
2021
PAYE and CIS deductions are due for month to 5 September 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 September 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 September 2021.

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October 05
2021
Deadline for notifying HMRC of new sources of taxable income or gains for 2020/21 if no tax return has been issued

This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5 April 2021 but who believe they have received income or capital gains which will result in a tax liability. Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31 January 2022.

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October 19
2021
Tax and NI due under a 2020/21 PAYE Settlement Agreement

This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5 April 2021.

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October 19
2021
PAYE and CIS deductions are due for the month to 5 October 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 October 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 October 2021.

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October 19
2021
PAYE quarterly payments are due for small employers for the pay periods 6 July 2021 to 5 October 2021

This deadline is relevant to small employers only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.

Where the payment is made electronically the deadline for receipt of payment is 22 October 2021.

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October 31
2021
Deadline for submission of 2020/21 self assessment returns if you require HMRC to compute your tax liability

This deadline is relevant for those individuals who complete a paper self Assessment tax return and who are employees. Where you have an underpayment of up to £2,000 only, you may request that HMRC collect any tax outstanding by an adjustment to your tax code for the year 2022/23.

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October 31
2021
Deadline for submitting 'paper' 2020/21 self assessment returns

This deadline is relevant to individuals who need to complete a self assessment tax return for 2020/21 and wish to file the return in a paper form. Self assessment returns submitted after this date must be submitted electronically.

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November 02
2021
Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 October 2021

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where there is a change in provision for example a new or additional car is provided, or an employee ceases to have the use of a car.

The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.

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November 19
2021
PAYE and CIS deductions are due for the month to 5 November 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 November 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 20 November 2021.

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December 19
2021
PAYE and CIS deductions are due for the month to 5 December 2021

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 December 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 December 2021.

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December 31
2021
Online deadline for submitting 2020/21 S.A. return if you require HMRC to collect any underpaid tax via your 2021/22 tax code

This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment of up to £2,000 only, you may request that HMRC collect any tax outstanding by an adjustment to your tax code for the year 2021/22.

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January 19
2022
PAYE and CIS deductions are due for the month to 5 January 2022

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 January 2021.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 January 2022.

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January 19
2022
PAYE quarterly payments are due for small employers for the pay periods 6 October 2020 to 5 January 2022

This deadline is relevant to small employers only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.

Where the payment is made electronically the deadline for receipt of payment is 22 January 2022.

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January 31
2022
Balance of your 2020/21 tax due, plus first payment on account for 2021/22.

The balance of any outstanding income tax, class 4 NI and capital gains tax for the year ended 5 April 2020 is due for payment by 31 January 2022. Where the payment is made late interest will be charged.

The first payment on account in respect of income tax and any class 4 NI is also due for payment by 31 January 2022.

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January 31
2022
Deadline for submitting your 2020/21 self assessment return (up to £100 penalty if your return is late).

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. There is a penalty of up to £100 if your return is not submitted on time.

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February 02
2022
Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 January 2022

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where there is a change in provision for example a new or additional car is provided, or an employee ceases to have the use of a car. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.

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February 19
2022
PAYE and CIS deductions are due for the month to 5 February 2022

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by 19 February 2022.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of payment is 22 February 2022.

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February 28
2022
5% penalty surcharge on any 2020/21 outstanding tax due on 31st January 2021 still remaining unpaid

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax and Class 4 NI liabilities and any capital gains tax.

The balance of any outstanding income tax, class 4 NI and capital gains tax for the year ended 5 April 2020 was due for payment by 31 January 2022. Where the payment is made late interest will be charged. If the payment is made after 28 February 2022 a surcharge of 5% will be added to the outstanding liability.

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Gorman Darby & Co Ltd
Registered in England & Wales under number 5750702. Registered office is Regal House, 70 London Road, Twickenham, TW1 3QS.