The Tax Faculty highlights the key deadlines and dates for tax practitioners during 2022.
IHT: The circumstances in which HMRC will accept an IHT205 or IHT207 for excepted estates instead of a full IHT account on form IHT400 will change.
Customs: full customs declarations and controls introduced at the point of importation from the EU.
31 January 2022
ITSA: deadline for online submission of self assessment tax returns for tax year ended 5 April 2021.
ITSA: deadline for paying self assessment ‘balancing payments’ for tax year ended 5 April 2021 and the first self assessment payment on account for tax year ended 5 April 2022.
ITSA: those who did not file their paper return by 31 October 2021 will incur £10 daily penalties if they do not file by today. They should file electronically to avoid a penalty.
ITSA: deadline to amend a 2019/20 tax return.
ITSA: deadline to file an outstanding 2019/20 return to avoid a tax-geared penalty.
Business tax: for entities within the IR35 rules, deadline to make corrections to the 2020/21 employer return and pay outstanding PAYE and class 1 NIC to qualify for the concession under which penalties will not be charged for failing to make final returns by the normal due date.
NIC: deadline to notify liability for class 2 NIC where self-employment began in 2020/21 to avoid a penalty.
Tax credits: last day to renew tax credits for 2021/22 (if the 31 July 2021 deadline was missed and the claimant can show good cause) or to provide final income figures for 2020/21 (if renewal was done by 31 July 2021 using an estimate).
Trusts: deadline for registering trusts on HMRC’s Trust Registration Service (TRS) if: a trust is registered for self assessment, and it was liable for income tax or capital gains tax (CGT) in 2020/21 for the first time since the introduction of the TRS; or if a trust is not registered for self assessment but was liable to inheritance tax (IHT), stamp duty land tax (SDLT), stamp duty reserve tax (SDRT), land and buildings transactions tax (LBTT) (Scotland) and land transactions tax (LTT) (Wales) in 2020/21.
Trusts: deadline for updating the TRS where there was a notifiable change before 6 April 2021 and a tax consequence in 2020/21. Tax consequence includes income tax, CGT, IHT, SDLT, SDRT, LBTT and LTT. If there is no tax consequence, then an update is required by 31 January after the end of tax year in which the trustees do have a UK tax liability (note that changes are possible on a voluntary basis).
CTSA: returns for accounting periods ended 31 January 2021 should reach HMRC.
ITSA: third late payment penalty due of 5% of any 2019/20 income tax and capital gains tax due on 31 January 2021 and remaining unpaid on this date.
14 February 2022
NIC: last day HMRC will accept an application to defer class 1 NIC for 2021/22. Applications made after that date and before 6 April 2022 will only be considered by HMRC with the agreement of the employer(s).
28 February 2022
CTSA: returns for accounting periods ended 28 February 2021 should reach HMRC.
ITSA: penalty charged where 2020/21 self assessment tax return was not filed online by 28 February 2022.
25 March 2022
Statutory sick pay: the standard threeday waiting time will be reinstated for coronavirus-related claims.
31 March 2022
Company tax: final date for reclaim of tax paid by a close company on a loan to a participator if loan repaid during the financial year ended 31 March 2018.
CTSA: returns for accounting periods ended 31 March 2021 should reach HMRC.
ATED: deadline to amend returns and pay any outstanding tax for the year 1 April 2020 to 31 March 2021.
ITSA: 5% penalty imposed on 2020/21 income tax, CGT and class 2 and 4 NIC not paid by today. The penalty can be avoided if a time to pay arrangement is agreed in advance.
Employers: new national minimum wage rates apply.
VAT: Making Tax Digital for VAT extended to all VAT-registered businesses for their first VAT period starting on or after this date.
Plastic packaging tax: a new tax on the import or manufacture of plastic packaging that contains less than 30% recycled plastic content comes into force.
Residential property developer tax: a new time-limited tax of 4% on the profits of UK residential property development activities of large companies comes into force.
Large business: requirement to notify uncertain tax treatment begins.
Company tax: new tax regime introduced for qualifying asset holding companies.
Company tax: changes introduced to film, theatre, orchestra and museum and galleries exhibitions tax relief rules.
Company tax: reforms to the tonnage tax rules come into effect.
ATED: fixed revaluation date. This valuation will be applicable to determine whether ATED applies and the relevant charging bands from 1 April 2023.
4 April 2022
Tax conditionality: tax checks introduced for renewals of licences in England and Wales for driving taxis and private hire vehicles, operating private hire vehicle firms or dealing in scrap metal.
5 April 2022
Last day of the 2021/22 tax year: deadline for various tax claims and elections.
Personal tax: deadline for electing to transfer (part of) the married couple’s allowance from husband to wife, or withdraw such an election, for 2022/23.
CGT: last day to make disposals to use the 2021/22 CGT exemption.
CGT: deadline to claim that an asset became of negligible value or a loan to a trader became irrecoverable in 2019/20.
IHT: deadline for utilising IHT exemptions for 2021/22 (and any excess from 2020/21).
NIC: deadline to pay voluntary class 2 or class 3 NIC for 2015/16.
NIC: deadline for claiming exception from class 4 NIC for 2022/23 where the same earnings are subject to class 1 NIC.
NIC: deadline to reclaim class 1 NIC mistakenly paid in 2020/21 on earnings which should have been categorised as self-employed.
Pensions: deadline to make a contribution to qualify for tax relief in 2021/22.
Employers: easement for employer provided cycles exemption ends.
Employers: exception to working time requirements for enterprise management incentives (EMI) ends.
Employers: temporary income tax exemption and NIC disregard for employer-reimbursed expenses that cover the cost of relevant home office equipment ends.
Income tax: trading loss carry-back extension ends.
6 April 2022
First day of the 2022/23 tax year.
Freeports: secondary class 1 NIC relief introduced for eligible employees working in freeport tax sites.
NIC: 1.25 percentage point rate increase for class 1, class 1A, class 1B and class 4.
Dividend tax: the dividend ordinary rate will increase to 8.75%, the dividend upper rate will increase to 33.75% and the dividend additional rate and dividend trust rate will increase to 39.35%.
Company cars: relevant percentage for calculating taxable benefit for a car with no CO2 emissions increases from 1% to 2%.
19 April 2022
Employers: deadline to make a final payroll report for 2021/22 using a full payment submission (FPS).
30 April 2022
ITSA: further late filing penalties apply to outstanding 2020/21 tax returns. For returns filed online after today, automatic £10 daily penalties apply. For returns filed on paper, the further penalty is the greater of £300 or 5% of the tax showing on the return.
ATED: deadline to submit returns and pay the tax for the year 1 April 2022 to 31 March 2023. If a relief applies, this is also the deadline to submit a relief declaration return.
CTSA: returns for accounting periods ended 30 April 2021 should reach HMRC.
Automatic exchange of information: returns due for calendar year 2021 in respect of United States Foreign Account Tax Compliance (FATCA), Crown Dependencies and Overseas Territories (CDOT) and the Common Reporting Standard (CRS).
PAYE: last date for giving a form P60 for 2021/22 to each relevant employee who was working for you on 5 April 2022, together with details of payrolled benefits in kind.
CTSA: returns for accounting periods ended 31 May 2021 should reach HMRC.
US tax: deadline for US expatriates to file 2021 US federal tax returns if they have not obtained a filing extension. If more time is needed, an extension can be obtained to 15 October 2022. If tax is due, interest will accrue from 18 April 2022 until the tax is paid.
30 June 2022
CTSA: returns for accounting periods ended 30 June 2021 should reach HMRC.
VAT: the requirement to submit reverse charge sales lists for sales of mobile phones and computer chips is abolished from this date. A final reverse charge sales list for the period up to 30 June 2022 must be submitted with the 06/22 monthly VAT return, or the 06/22, 07/22, or 08/22 quarterly VAT return depending on the VAT stagger applicable to the business.
4 July 2022
PAYE: deadline for employee to reimburse payment made by employer on account of tax in 2021/22 (eg, on employment-related securities). If no reimbursement is made or if it is made after this date, a further tax charge arises.
5 July 2022
PAYE: last date for agreeing PAYE settlement agreements for 2021/22. Non-resident landlords: deadline for 2021/22 returns of rent paid by agents to non-resident landlords and of tax deducted by tenants from rents paid direct to non-resident landlords.
6 July 2022
NIC: increased class 1 primary threshold of £12,570 applies from this date.
PAYE: deadline for filing forms P11D, P11D(b) or substitutes for the tax year ending 5 April 2022.
PAYE: last date to give forms P11D to relevant employees.
Employers: deadline to register an employee share scheme that was in place during 2021/22 and to self-certify the scheme if it is a tax-advantaged scheme. Schemes in place prior to 2021/22 should already have been registered.
Employers: deadline for filing employment-related securities returns for 2021/22.
Employers: deadline to file the 2021/22 report of termination payments and benefits where noncash benefits are included in an employee termination package. No report is required where the total value of the settlement is below £30,000.
Employers: deadline for employees to make good the cost of non-payrolled benefits in kind provided in 2021/22. This deadline does not apply to beneficial loans.
Employers: deadline for taxed award scheme providers in 2021/22 to provide form P443 certificates to recipients showing details of the award and tax paid under a higher rate scheme and make returns of awards made to HMRC on forms P35(TAS) and P440. This is generally used by third parties who provide taxable benefits to someone else’s employee.
Employers: deadline for a close company to elect that all beneficial loans to a director be treated as a single loan for calculating 2021/22 benefits-in-kind (s187, ITEPA 2003).
7 July 2022
Employers: deadline to make a return of relevant benefits provided in 2021/22 to retired employees under an employer-financed retirement benefits scheme. Such benefits are taxable unless provided from a registered pension scheme or covered by one of the exemptions.
19 or 22 July 2022
PAYE: deadlines to pay outstanding class 1A NIC for tax year ended 5 April 2022. Postal payment must reach the HMRC Accounts Office by 19 July and electronic payments be cleared in HMRC’s bank account by 22 July.
31 July 2022
ITSA: deadline for second self assessment payment on account for tax year ended 5 April 2022.
Tax credits: deadline to provide information to finalise 2021/22 awards and renew claims for 2022/23.
CTSA: deadline for returns for accounting periods ended 31 July 2022 to reach HMRC.
ITSA: a second 5% penalty applies to SA tax and class 4 NIC for 2020/21 not paid by today (the first was on 1 April 2022).
18 or 21 August 2022
Employers: 5% penalty applies to 2021/22 class 1A NIC not paid by 18 August for payments by cheque and 21 August for electronic payments (note that 21 August is a Sunday).
31 August 2022
CTSA: deadline for returns for accounting periods ended 31 August 2021 to reach HMRC.
Trust registration: deadline to register non-taxpaying trusts that existed on 6 October 2020. After this date, trusts must be registered within 90 days of becoming registerable.
30 September 2022
Customs duty: the Customs Handling of Import and Export Freight (CHIEF) system will not process import declarations from this date.
CTSA: deadline for returns for accounting periods ended 30 September 2021 to reach HMRC.
ITSA: deadline to notify chargeability for income tax/capital gains tax for 2021/22 if not registered for self assessment. Complete form CWF1 for self-employment or form SA1 for non self-employed income or form SA401 for partners. This requirement also applies to trustees and any other persons potentially within ITSA.
6 October 2022
Pensions: deadline for pension administrators to give a pension savings statement to scheme members if their pension inputs in the scheme in 2021/22 exceed the annual allowance.
15 October 2022
US tax: deadline for US expatriates to file 2021 US tax returns if they have obtained a filing extension.
17 October 2022
VAT: businesses that were subject to reverse charge sales list reporting up to 30 June 2022 that submit annual VAT returns or non-standard VAT returns that include the period to 30 June 2022, but where the return will be filed on or after 17 October 2022, must submit a separate reverse charge sales list for the period up to 30 June 2022 by this date.
19 or 22 October 2022
Employers: deadline for paying PAYE settlement agreement tax/class 1B NIC liabilities for 2021/22. Postal payments must reach HMRC Accounts Office by 19 October and electronic payments be cleared in HMRC’s bank account by 22 October.
31 October 2022
ITSA: deadline for paper submission of self assessment tax returns for the tax year ended 5 April 2022 to be received by HMRC.
CTSA: deadline for returns for accounting periods ended 31 October 2021 to reach HMRC.
Note: These deadlines and dates are correct at the time of going to press.
ICAEW Know-How from the Tax Faculty
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