Budget 2007

Key filing dates

Income tax and capital gains tax

• Self assessment tax return
  • 31 January following end of year of assessment¹.

Inheritance tax

• Chargeable lifetime transfer
  • later of 12 months after end of month of transfer and 3 months after person becomes liable to tax
• Transfers on death
  • later of 12 months after end of month of death or 3 months after personal representatives first act or believe an account is required
• Potentially exempt transfers that have become chargeable
  • 12 months after end of month of death of transferor.

Corporation tax

• All companies
  • 12 months after end of accounting period.

Value added tax

• 1 month² after end of return period, or 2 months for annual returns.

Stamp duty land tax

• 30 days from effective date of land transaction.

Employment taxes

• Forms P35 and P14 to H Revenue & Customs⁴
  • 19 May following end of tax year⁴.
• Forms P60 to employees
  • 30 May following end of tax year³.
• Forms P9D/P11D to H Revenue & Customs and copies to employees
  • 6 July following end of tax year.
• Return of class 1A NICs
  • 6 July following end of tax year⁴.
• Employment related securities form 42
  • 6 July following end of tax year.

¹ Assumes request for return issued pre 31 October after year of assessment – date advances to 3 September if taxpayer wants underpayment of less than £2, to be coded-out in following tax year, 31 December if filing electronically.
² 7 day extension may apply where payments made by electronic means.
³ For employees in that employment at 5 April in tax year.
⁴ Penalties apply automatically.

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.