Key Tax Year Dates for Small Business 2022/23

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As a small business owner, it’s vital you’re aware of upcoming key UK tax dates for 2022/23.

From VAT deadlines and rate changes, to payroll and self assessment deadlines, there are numerous key tax dates that your business needs to be prepared for.

To ensure you don’t miss any of the key tax dates, the FastPay team has mapped them out in our latest key tax year dates guide.

Remember these important tax year dates

  • 6 April – New 2022/23 tax year begins.
  • 6 April – Your employee payroll must be updated for the new tax year.
  • 19 April – Any tax/NIC due for the year must be paid alongside a submission of your final Full Payment Summary and Employer payment summary for the year ended 5 April 2022.

Key Tax Year Dates For Small Businesses

Upcoming Key Tax Year Dates…

The FastPay guide to what key tax dates to look out for over the months of the new 2022/23 tax year. 

VAT Deadlines

  • 31 March – All VAT submission deadlines deferred in the period to June 2020 under Covid-19 relief legislation are due in full by this date.
  • 1 April – Standard-rate (20%) VAT will return, ending the temporary reduced rate for some hospitality and attraction supplies under Covid-19 relief legislation.
  • 1 April – Every UK VAT registered business must be MTD (Making Tax Digital) compliant with regards to UK VAT returns for periods starting on or after this date.

May 2022

  • 31 May – P60 deadline: Issue a P60 to all of your businesses’ employees who are working for you on the last day of the tax year.

July 2022

  • 19 July – All postal payments of Class 1A NICs to be submitted by post must be paid.
  • 22 July – Electronic payments of Class 1A NICs to be paid by this date.
  • 31 July – Due date for second payment on account of tax for 2021/22.

October 2022

  • 5 October – HMRC must be informed of the potential chargeability and National Insurance Contributions following the end of the tax year in which your business started.
  • 5 October – Notify HMRC if a new partner has joined you in the 2021/22 tax year by this date.
  • 31 October – Deadline for returning 2021/22 Self-Assessment Tax Returns by paper.

January 2023

  • 31 January – File your Self Assessment Tax Return for the year 2021/22 by this date.

Let FastPay Take Care of your Business’s Direct Debits 

Managed Direct Debit solutions provide businesses with peace of mind.

Our team assists businesses up and down the United Kingdom with their Direct Debit needs. FastPay’s dedicated specialists will help you to set up your account in less than 24 hours.

Find out more information by speaking to a member of the FastPay team by calling 0161 737 5290, or you can request further information via our online form.

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