As we navigate through 2025, staying on top of key financial and tax deadlines is crucial for businesses and individuals alike. At Plymouth Accountancy Hub, we ensure that our clients are well-informed and prepared for upcoming obligations. Here’s a comprehensive breakdown of the essential dates and deadlines to note.
Key Deadlines for 2025
February 2025
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1 February – Interest starts accruing on any unpaid Self-Assessment tax liability for the 2022/23 tax year.
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6 February – Potential interest rate cut from 4.75% to 4.50% by the Bank of England’s Monetary Policy Committee.
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14 February – Deadline to defer payment of Class 1 National Insurance Contributions (NICs) for 2024/25 (form CA72A).
March 2025
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26 March – Spring Statement announcement.
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31 March – Last day for temporary reduction in Stamp Duty Land Tax for residential property purchases.
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31 March – The 75% business rate discount for retail, hospitality, and leisure sectors ends.
April 2025
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1 April – New Financial Year 2025 begins.
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1 April – Revised National Living Wage rates take effect.
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1 April – First-Time Buyers’ Stamp Duty Land Tax relief threshold reduces from £425,000 to £300,000.
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1 April – Eligible retail, hospitality, and leisure businesses receive a 40% relief on business rates (up to £110,000 per business).
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5 April – Last day of the 2024/25 tax year to utilise tax allowances.
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5 April – Deadline for voluntary NICs payments to fill NI record gaps dating back to 2006.
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6 April – Start of the new 2025/26 tax year, with the ISA allowance renewing at £20,000.
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6 April – Increase in employers’ NICs by 1.2%, £4,100 reduction in employee threshold, and a £5,500 rise in Employment Allowance.
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6 April – Furnished Holiday Letting tax regime abolished.
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6 April – Business Asset Disposal Relief Capital Gains Tax (CGT) rate increases from 10% to 14%.
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6 April – Non-domicile tax rules replaced with a residence-based system.
June 2025 – 31st December 2025
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30 June – Mortgage Guarantee Scheme comes to an end.
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31 July – Second Payment on Account due for Income Tax 2024/25.
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1 September – ‘Failure to prevent fraud’ law takes effect.
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22 October – Inflation rate announcement impacting state pension and benefits for April 2026.
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31 October – Postal tax return submission deadline for 2024/25.
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30 December – Online personal tax return deadline for 2024/25 (if underpayment of tax below £3,000 is to be collected via 2026/27 PAYE code)
Key Deadlines for 2026 & Beyond
- 31 January – Deadline for Self-Assessment Tax Returns for 2024/25.
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31 January – First Payment on Account due for 2025/26.
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6 April – Making Tax Digital for Income Tax Self-Assessment begins.
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6 April – Mandatory payrolling of benefits in kind.
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6 April – Business Asset Disposal Relief CGT rate increases from 14% to 18%.
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6 April – Inheritance Tax (IHT) Business and Agricultural Property Relief capped at £1 million, with 50% relief on assets exceeding that value.
Beyond 2026
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Making Tax Digital for partnerships and companies – Implementation dates pending.
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2027 – The UK plans to introduce a new import carbon pricing mechanism to support decarbonisation efforts.
Repeating Deadlines
For Companies:
- 12 months after year-end – Corporation Tax and statutory accounts filing deadline.
- 9 months and 1 day after year-end – Corporation Tax liability payment due.
For All Businesses (Monthly/Quarterly):
- 7th of each month – VAT return and payment deadline.
- 14th of each month – Corporation Tax quarterly instalment due.
- 19th of each month – Due date for CIS, PAYE, and NICs (if paying by cheque).
- 22nd of each month – Due date for CIS, PAYE, and NICs (if paying electronically).
For Individuals:
- Within 60 days of property sale – Capital Gains Tax (CGT) payment and reporting deadline for non-UK residents.
Stay on Top of Your Financial Deadlines
Missing key tax and financial deadlines can result in unnecessary penalties and interest charges. At Plymouth Accountancy Hub, we are committed to helping our clients meet their obligations efficiently and on time. If you have any questions or need personalised advice, contact Plymouth Accountancy Hub today.
