Factotum’s Tax Calendar
We know you’re busy running your business and navigating life’s demands. Tax deadlines shouldn’t add to the stress. We’ve put together this straightforward tax calendar to keep you on top of those crucial dates. Think of it as your reliable partner in financial organisation, ensuring you’re always prepared.
Your Key Tax Dates:
VAT Returns: Think of Business VAT like a sales tax that some businesses collect for the government. Most businesses file these VAT returns every three months (quarterly). Your specific three-month period will determine when your return is due – it’s usually about a month and a week after your quarter ends. For example, if your VAT quarter ends on March 31st, your return is typically due by May 7th.
Business Corporation Tax: on the other hand, is a tax on the profits your company makes. This is usually done once a year, and the deadline is generally nine months and one day after your company’s financial year ends. So, if your company’s financial year ends on December 31st, your Corporation Tax return is usually due by October 1st of the following year.
We recommend setting up calendar reminders for all your deadlines.
| Tax Type | Frequency | Deadline Explanation | Deadline |
|---|---|---|---|
| Business VAT Return | Quarterly for majority of businesses | Typically due 1 month + 7 days after your VAT quarter ends. Your specific deadlines depend on your accounting period. Chat to us to get your quarterly dates. | For illustration only: If one of your VAT quarters ends March 31st, 2025, that return is usually due by May 7th, 2025. |
| Personal Self-Assessment – Second Payment on Account | Annually (for payments on account) | 31st July 2025 | 31st July 2025 |
| Business Corporation Tax | Annually | 9 months and 1 day after your accounting period ends. Your specific deadline depends on your company’s year-end. Chat to us to get your date. | For illustration only: If your company’s financial year ends December 31st, 2025, your return is usually due by October 1st, 2026. |
| Personal Self-Assessment Tax Return Deadline | Annually | 31st January 2026 | 31st January 2026 |
| Business PAYE Due | Monthly | 22nd of Every Month | 22nd of Every Month |
Record Keeping: Keep it Simple, Keep it Separate
- Keeping your finances in order? It’s a must, but it doesn’t have to be a headache. We find using a separate business account or card, like Pleo, makes life much easier. It keeps your work expenses neatly separate from your personal spending. This means when tax return time rolls around, you’re not scrambling through a mountain of receipts, trying to remember what was what. It’s all there, organised, and ready to go. No more stress, and no more missed deductions
- Digital record-keeping is your friend. Consider cloud-based accounting software or apps to store documents securely.
- Mileage tracking? Essential. Keep a detailed log if you use your vehicle for work.
- Pension contributions, HMRC communications, year-end planning, dividend records, and capital gains—don’t let these slip through the cracks.
Tips for Streamlining Your Finances:
- There’s an app for that: Many apps can connect with your bank accounts and accounting software, making income and expense tracking easier.
- Receipt scanning: Use apps that digitally store receipts, reducing paper clutter.
We’re here to make your financial life easier, not more complicated. We can help you choose the right apps and tools to streamline your tax processes and ensure you’re being as tax-efficient as possible. It’s about knowing your liabilities and planning accordingly. Don’t hesitate to reach out to chat. We’ll help you take control of your finances and give you peace of mind.
