4 Nov 2020

January 2021

Tuesday 19 PAYE, Student loan and CIS deductions are due for the month to 5th January 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.

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 cleared payment is 22nd January 2021. In year interest will be charged if payment is made late. Penalties also apply. Tuesday 19 PAYE quarterly payments are due for small employers for the pay periods 6th October 2020 to 5th January 2021

This deadline is relevant to small employers and contractors 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 cleared payment is 22nd January 2021. In year interest will be charged if payment is made late. Penalties also apply.Sunday 31 Deadline for submitting your 2019/20 self assessment return (£100 automatic penalty if your return is late) and the balance of your 2019/20 liability together with the first payment on account for 2020/21 are also due

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, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge liabilities. 

There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or your return shows that you are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2020 is due for payment by 31st January 2021.  Where the payment is made late interest will be charged.

The first payment on account for 2020/21 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2021.

If we have already dealt with your self assessment return on your behalf you need take no action.

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