Key Tax Dates In 2024 For UK Businesses and Self-Employed

In the new year, it's essential for businesses and self-employed individuals in the UK to mark their calendars with important tax dates. Understanding and adhering to these key dates can help you avoid late payment penalties and ensure a smooth financial year ahead. In this comprehensive guide, we'll walk you through the crucial tax dates for 2024, covering everything from self-assessment tax returns to VAT payment deadlines.



Self Assessment Tax Return: A Crucial Obligation

One of the first and foremost responsibilities for self-employed individuals and small business owners is the completion of their self-assessment tax return. The deadline for submitting your online return for the 2023/24 tax year is 31 January 2024. Filing your self-assessment tax return on time is imperative to avoid late payment penalties.


Paying Taxes: The Essence of Fiscal Responsibility

Paying income tax is a fundamental obligation for individuals and businesses alike. The deadline for settling your previous year's tax bill falls on 31st January 2024. This encompasses income tax, capital gains tax, and any outstanding payments from the 2023/24 tax year.


Corporation Tax: Limited Companies Take Note

For limited companies, the corporation tax deadline is crucial. Ensure you file your company tax return and pay any outstanding corporation tax by the deadline, which typically falls nine months after the end of your accountingperiod.


Register for Self Assessment: A Prerequisite for the Self-Employed

If you're self-employed or a sole trader and haven't registered for self-assessment yet, it's essential to do so as soon as possible. This is necessary for calculating your tax bill accurately and avoiding potential penalties.


Capital Gains Tax: Understanding Your Liabilities

Individuals who have made a profit from selling an asset or business asset during the tax year may be liable for capital gains tax. Ensure you pay any capital gains tax owed by the relevant deadlines to avoid penalties.


National Insurance Contributions: Fulfilling Your Social Obligations

Self-employed individuals need to pay their national insurance contributions to secure entitlements to the state pension and other benefits. Keep track of the deadlines for these payments to avoid any disruptions to your insurance coverage.


VAT Registration Deadline: Crucial for VAT-Registered Businesses

For businesses that are required to register for VAT, ensuring timely registration is vital. Be aware of the VAT registration deadline to comply with HMRC regulations and avoid potential penalties.


Payment on Account: Managing Your Tax Liabilities

For those with significant tax liabilities, making advance payments on account is a prudent way to manage your financial responsibilities. The first payment on the account is due by 31st January, with the second payment due by 31st July.


End of the Tax Year: Wrapping Up Financial Affairs

As the tax year concludes on 5th April 2024, it's essential to finalise all financial transactions and ensure that your records are up to date. This includes making necessary adjustments to your accounts and preparing for the upcoming self-assessment tax return.


Annual Registration Deadline: Limited Companies Stay Compliant

Limited companies must ensure that they meet the annual registration deadline to maintain their legal status. Compliance with this deadline is crucial for avoiding penalties and ensuring the continued operation of the company.


Payment Deadlines for Small Businesses: Ensuring Financial Stability

Small businesses often face unique financial challenges. Staying on top of payment deadlines for various taxes, including income tax and corporation tax, is vital for maintaining financial stability and avoiding unnecessary penalties.


Filing Deadlines for VAT Returns: A Quarterly Affair

Businesses registered for VAT must adhere to filing deadlines for their VAT returns. Ensure you file your returns within the specified time frames to avoid late filing penalties.


Late Payment Penalties: A Costly Consequence

Late payment penalties can significantly impact your finances. Stay vigilant and adhere to all payment deadlines to avoid incurring unnecessary fines, which can escalate over time.


Important Dates for Payroll: Managing Employee Finances

For businesses with employees, it's crucial to stay on top of payroll deadlines. This includes filing payroll benefits online and managing PAYE tax codes to ensure accurate and timely payments to employees.


Online Tax Return: A Modern Convenience

Filing your tax return online has become the norm, offering convenience and efficiency. Familiarise yourself with the online return process and ensure you submit your returns through the HMRC online portal.


Financial Year and Tax Code: Understanding the Basics

Understanding the financial year and tax code is fundamental to managing your tax obligations. Stay informed about any changes to the tax code and adapt your financial planning accordingly.


UK's Tax Year and Calendar Quarters: Aligning Your Business Strategy

Aligning your business strategy with the UK's tax year and calendar quarters can aid in effective financial planning. Stay aware of key dates and plan your business activities accordingly.


Self Employment and National Minimum Wage: Balancing Income and Expenses

Self-employed individuals must ensure that their income meets or exceeds the national minimum wage. Balancing income and expenses is essential for sustaining a viable self-employed business.


Interest-Free Loans: A Financial Strategy for Limited Companies

Limited companies may consider interest-free loans as part of their financial strategy. Ensure that any such loans are managed in compliance with HMRC regulations to avoid tax implications.


Paper Tax Returns: A Fading Tradition

While online tax returns have become the standard, some individuals and businesses may still opt for paper returns. Be aware of the deadlines and follow the necessary procedures if you choose the traditional paper filing method.


Make A Note Of These Key Dates & Keep Updated Throughout The Year!

Staying aware of key tax dates in 2024 is paramount for the financial health of your business or self-employed venture. By understanding and adhering to these important deadlines, you can avoid penalties, maintain compliance with HMRC regulations, and ensure a smooth and prosperous year ahead.


Make it a priority to mark these dates in your calendar, seek professional advice from 10.CA when needed, and approach your tax obligations with diligence and foresight.

Company tax returns and accounts have gone digital

By Charlie Flockhart • April 21, 2026
HMRC and Companies House have confirmed that from 1 April, all businesses must use compliant, commercial software to file their company’s tax returns. As of 31 March, the free joint online service, commonly known as the CATO portal, from these two Government bodies has been removed and you must now use software to file company tax returns to HMRC. For the time being, you will still be able to file annual accounts at Companies House using third-party software, WebFiling services or paper filing. The decision has been made to end this service as it is “outdated and no longer aligns with modern digital standards”, according to Companies House. This change is in line with the introduction of the Economic Crime and Corporate Transparency Act, which implemented “enhanced corporation tax requirements and changes to UK company law.” It also follows on from a major IT security breach at Companies House, identified in March 2026, that exposed the WebFiling system and allowed some users to potentially access and amend the details of other companies. Although the breach has now been resolved and security strengthened, it has raised concerns about the reliability of GOV.UK One Login service.  Can you still amend previous returns using the free service? HMRC and Companies House have confirmed that now that the free filing service has closed, company directors will have to use commercial tax software if they need to make changes to a previously submitted Corporation Tax return or refile a rejected return. From now onwards, any previously filed financial information will no longer be available in the system, as it has not been retained and will need to be entered again. HMRC has said that, for amendments, it will also be acceptable to send a paper return to the Corporation Tax Services office. If you have previously filed financial accounts with Companies House and you want to make changes or corrections, this will also need to be done via commercial software or by sending paper accounts to Companies House via post. Are there any exceptions to this new rule? Companies can file a paper Corporation Tax return only in limited circumstances, such as if they wish to submit it in Welsh or can demonstrate a valid, reasonable excuse to HMRC. Otherwise, returns must be filed online using commercial software. If you are affected by this change and need help choosing and utilising commercial software to complete your Corporation Tax return, please speak to our team.

Capital allowances - New rules for a new tax year

By Charlie Flockhart • April 21, 2026
Capital allowances continue to provide an effective method for businesses to reduce their tax bills, by providing incentives for investment in eligible expenditure – typically plant and machinery. Historically, these reliefs have been subject to change and the 2026/27 tax year is no different, as the Government moves to alter two key reliefs – Writing Down Allowance (WDA) and a new First-Year Allowance (FYA).  Reduction of the Writing Down Allowance The WDA will be reduced from 18 per cent to 14 per cent on the main pool of qualifying plant and machinery assets. This change has been introduced on two different dates, starting with companies subject to Corporation Tax on 1 April and followed shortly thereafter by those subject to Income Tax, such as sole traders and partnerships, from 6 April. Businesses with large brought forward main pool expenditures are expected to lose the most from the reduction in the main rate of WDA. In the long-term, the change may also reduce incentives for investment in second-hand assets and cars, which benefited under the previous rules. The new First-Year Allowance To offset some of the impact of the reduction in WDA, a new 40 per cent FYA on main rate expenditure, primarily still covering plant and machinery, will now be available. This new FYA is intended to encourage investment in areas where other FYAs don’t allow, in particular, assets bought by unincorporated businesses and leases. Sole traders and partnerships will, for the first time, be able to get additional support at the point of investment, which means that more businesses will be able to reduce their tax bill in the same year as their investment. This is expected to give a quick cashflow boost to those affected and provide additional support for future investments. However, it is important to note that this FYA does not support investment in second-hand assets, cars or leased assets in other countries. Finally, the Government has also confirmed that small business owners will continue to benefit from tax relief on electric vehicles, as the 100 per cent FYA for zero-emission vehicles and charge points has been extended until 31 March 2027 for Corporation Tax and 5 April 2027 for Income Tax. This gives businesses greater certainty when planning ahead, while also providing a strong financial incentive to invest by reducing tax bills upfront. Want to make more of capital allowances? If you think you may be eligible for capital allowances, either due to the changes outlined in this article or more generally, then it is important that you claim the tax relief available to you. If you would like help reviewing the current capital allowances that your business can claim, please get in touch.

Government abolishes work-from-home relief

By Charlie Flockhart • April 21, 2026
Directors and employees claiming work-from-home tax relief will no longer be able to claim it from the start of the new tax year – 6 April 2026. Why is this relief being taken away? The Chancellor announced the removal of the work-from-home relief as part of her latest Autumn Budget. The main reasoning given for the abolition is that it will support the nation’s deficit reduction. HMRC has also said that it no longer believes it is fit for purpose or easy to police. Who could claim work-from-home relief? Work-from-home relief has been utilised by homeworkers since the early 2000s, helping them offset some of the costs of heating, lighting, broadband and other home-office expenses required to complete their jobs. The relief allowed employees and directors to claim a flat rate of £6 per week or a deduction for actual costs. However, those who do not claim the flat fee were required to provide evidence of the exact costs, such as an invoice or bill. Eligibility for the relief only applied to individuals who had no other choice but to work from home. For instance, where the business did not have an office or the daily commute was not feasible. Individuals who simply preferred to work from home did not qualify. Is there any relief still available for home workers? The only remaining tax-free support will be reimbursements made directly by employers. This applies only where the payments relate to demonstrated additional household costs and where the costs are incurred wholly, exclusively and necessarily for employment duties. For anyone still claiming work-from-home relief, it is worth reviewing your position now to understand how this abolishment will impact your take-home pay.