VAT and customs duty: New regimes come into force following the end of the EU exit transition period, including:

• the ability to use postponed accounting instead of paying import VAT;
• the regime for imports under £135; imports and exports between the UK and EU (instead of acquisitions and dispatches);
• Northern Ireland protocol;
• Non-union MOSS (instead of Union MOSS for UK businesses);
• recovery of input VAT in relation to sales of certain financial and insurance services to EU customers; and
• change of VAT liability and place of supply for some supplies of services to EU consumers.

VAT: Zero rating of sanitary products for women comes into force.

DAC 6: First reporting deadline covering:

• arrangements that were made available for implementation, or which were ready for implementation, or where the first step in the implementation took place between 1 July 2020 and 31 December 2020; and
• arrangements in respect of which a UK intermediary provided aid, assistance or advice between 1 July 2020 and 31 December 2020.

Also, from 1 January 2021, the deadline for reporting arrangements becomes 30 days from the earliest of being made available for implementation, ready for implementation or the first step of implementation being made.

ITSA: deadline for online submission of self assessment tax returns for tax year ended 5 April 2020.

ITSA: deadline for paying self assessment deferred second payments on account and ‘balancing payments’ for tax year ended 5 April 2020, and the first self assessment payment on account for tax year ended 5 April 2021. Self assessment taxpayers unable to pay these amounts can agree a payment plan over an additional 12 months with HMRC.

ITSA: those who did not file their paper return by 31 October 2020 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 2018/19 tax return.

ITSA: deadline to file an outstanding 2018/19 return to avoid a tax-geared penalty.

ITSA: deadline to file an outstanding 2017/18 return to displace a determination.

Claims and elections: deadline for numerous ITSA claims and elections, for tax years 2014/15 to 2019/20.

Business tax: for entities within the IR35 rules, deadline to make corrections to the 2019/20 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 2019/20 to avoid a penalty.

Tax credits: last day to renew tax credits for 2020/21 (if the 31 July 2020 deadline was missed and the claimant can show good cause) or to provide final income figures for 2019/20 (if renewal was done by 31 July 2020 using an estimate).

Trusts: deadline for registering trusts on HMRC’s Trust Registration Service if: 

• a trust has been liable for income tax or capital gains tax (CGT) before, and it was liable for these taxes again in 2019/20; or
• if a trust was liable for 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 2019/20.

Trusts: deadline for updating the trust register where there was a notifiable change before 6 April 2020 and a tax consequence in any of the three years 2017/18 to 2019/20. Tax consequence includes income tax, CGT, IHT, SDLT, SDRT, LBTT and LTT.

CTSA: returns for accounting periods ended 31 January 2020 should reach HMRC.

ITSA: penalty charged where 2019/20 self assessment tax return was not filed on time and was issued before 1 November 2020.

Editor’s note: A one-month waiver of late filing penalties for certain self assessment returns was announced on 25 January. Read guidance from the Tax Faculty.

ITSA: third late payment penalty due of 5% of any 2018/19 income tax and capital gains tax due on 31 January 2020 and remaining unpaid on this date.

VAT: deadline for registering for the non-union MOSS scheme for any UK business making relevant supplies into the EU during January 2021.

NIC: last day HMRC will accept an application to defer class 1 NIC for 2020/21. Applications made after that date and before 6 April 2021 will only be considered by HMRC with the agreement of the employer(s).

CTSA: returns for accounting periods ended 29 February 2020 to HMRC. 

VAT: domestic reverse charge introduced for the construction industry.

ITSA: penalty charged where 2019/20 self assessment return was not filed by 28 February after qualifying for the one-month penalty waiver for late returns.

Capital allowances: first-year allowances for low-emission cars expire.

VAT: businesses that deferred their VAT payments in the period from 20 March 2020 to 30 June 2020 must pay the accumulated VAT by this date if not opting into the VAT deferral new payment scheme.

VAT: deadline for businesses registered in the UK that incurred EU VAT up to 31 December 2020 to submit claims under the European VAT reclaim scheme.

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 2017.

CTSA: returns for accounting periods ended 31 March 2020 should reach HMRC.

ATED: deadline to amend returns and pay any outstanding tax for the year 1 April 2019 to 31 March 2020.

ITSA: 5% penalty imposed on 2019/20 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 from the start of the first pay period that begins on or after this date.

Company tax: a super-deduction of 130% and first-year allowances of 50% are available for qualifying expenditure incurred on or after this date. 

Company tax: cap on payable R&D tax credit due to come into force.

Stamp duty land tax: non-UK resident surcharge of 2% comes into force.

Land and buildings transaction tax: residential thresholds return to normal.

MTD for VAT: digital links required in first VAT return period starting on or after 1 April 2021.

NIC: deadline to pay voluntary class 2 or class 3 NIC for 2014/15.

Last day of the 2020/21 tax year: various tax claim and elections deadlines.

Personal tax: deadline for electing to transfer (part of) the married couple’s allowance from husband to wife, or withdraw such an election, for 2021/22.

CGT: last day to make disposals to use the 2020/21 CGT exemption.

CGT: deadline to claim that an asset became of negligible value or a loan to a trader became irrecoverable in 2018/19.

IHT: deadline for utilising inheritance tax exemptions for 2020/21 (and any excess from 2019/20).

NIC: deadline for claiming exception from class 4 NIC for 2021/22 where the same earnings are subject to class 1 NIC.

NIC: deadline to reclaim class 1 NIC mistakenly paid in 2019/20 on earnings that should have been categorised as self-employed.

Pensions: deadline to make a contribution to qualify for tax relief in 2020/21.

Employers: transition period ends for optional remuneration arrangements made before 6 April 2017 for cars with CO2 emissions above 75g/km, accommodation, and school fees.

First day of the 2021/22 tax year.

Off-payroll working: new rules for the private sector due to come into force.

Construction industry scheme: changes come into force (see page 8).

Employers: van benefit charge reduced to zero for vans that produce zero carbon emissions.

NIC: national insurance holiday introduced for employers of veterans in their first year of civilian employment.

Pensions: tax rules for collective money purchase pensions come into force.

VAT: from this date HMRC will no longer accept VAT returns through eXtensible Markup Language (XML) software.

Employers: deadline to make a final payroll report for 2020/21 using either a full payment submission (FPS) or employer payment summary as appropriate. After this date, a year-to-date FPS is used to report payments from the 2020/21 tax year.

ATED: deadline to submit returns and pay the tax for the year 1 April 2021 to 31 March 2022. If a relief applies, this is also the deadline to submit a relief declaration return.

CTSA: returns for accounting periods ended 30 April 2020 should reach HMRC.

ITSA: further late filing penalties apply to outstanding 2019/20 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.

Automatic exchange of information: returns due for calendar year 2020 in respect of United States Foreign Account Tax Compliance, Crown Dependencies and Overseas Territories and the Common Reporting Standard.

PAYE: last date for giving a form P60 for 2020/21 to each relevant employee who was working for you on 5 April 2021, together with details of payrolled benefits-in-kind.

CTSA: deadline for returns for accounting periods ended 31 May 2020 to reach HMRC.

Company tax: UK resident companies making payments of annual interest or royalties to connected companies resident in an EU member state have to apply withholding taxes, subject to the terms of a relevant double taxation agreement.

US tax: deadline for US expatriates to file 2020 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 2021. If tax is due, interest will accrue from 17 May 2021 until the tax is paid.

Patent box: transitional period for intellectual property that existed at midnight on 30 June 2016 for companies that had already elected into the patent box regime at that date comes to an end.

CTSA: deadline for returns for accounting periods ended 30 June 2020 to reach HMRC.

VAT: 5% penalty charged if VAT deferred from the period 20 March 2020 to 30 June 2020 is not paid by 30 June 2021 or deferred under the new payment scheme.

Stamp duty land tax: nil rate band for residential property reduces to £250,000.

Land transaction tax: residential thresholds return to normal.

PAYE: deadline for employee to reimburse payment made by employer on account of tax in 2020/21 (eg, on employment-related securities). If no reimbursement is made or if it is made after this date, a further tax charge arises.

PAYE: last date for agreeing PAYE settlement agreements for 2020/21.

Non-resident landlords: deadline for 2020/21 returns of rent paid by agents to non-resident landlords and of tax deducted by tenants from rents paid direct to non-resident landlords.

PAYE: deadline for filing forms P11D, P11D(b), or substitutes for the tax year ending 5 April 2021.

PAYE: last date by which to give forms P11D to relevant employees, and/or details of benefits-in-kind that have been payrolled.

Employers: deadline to file the 2020/21 report of termination payments and benefits where non-cash 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 2020/21. This deadline does not apply to beneficial loans.

Employers: deadline for taxed award scheme providers in 2020/21 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 to register an employee share scheme which was in place during 2020/21 and to self certify the scheme if it is a tax advantaged scheme. Schemes in place prior to 2020/21 should already have been registered.

Employers: deadline for filing employment-related securities returns for 2020/21.

Employers: deadline for a close company to elect that all beneficial loans to a director be treated as a single loan for calculating 2020/21 benefits-in-kind (s187, ITEPA 2003).

Employers: deadline to make a return of non-cash benefits provided in 2019/20 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.

PAYE: deadlines to pay outstanding class 1A NIC for tax year ended 5 April 2021. Postal payment must reach the HMRC Accounts Office by 19 July, and electronic payments be cleared in HMRC’s bank account by 22 July.

ITSA: deadline for second self assessment payment on account for tax year ended 5 April 2021.

Pensions: deadline for a scheme member to notify the scheme administrator to elect for a 2019/20 annual allowance charge to be met from his or her pension benefits where the tax is more than £2,000.

Tax credits: renewal deadline to provide information to finalise 2020/21 awards and renew claims for 2021/22.

CTSA: returns for accounting periods ended 31 July 2020 should reach HMRC.

ITSA: a second 5% penalty applies to SA tax and class 4 NIC for 2019/20 not paid by today (the first was on 1 April 2021).

Employers: 5% penalty applies to 2020/21 class 1A NIC not paid by 19 August for payments by cheque and 22 August for electronic payments (but note that 22 August falls on a Sunday this year).

CTSA: deadline for returns for accounting periods ended 31 August 2020 to reach HMRC.

VAT: last day that the 5% reduced rate applies for hospitality, holiday accommodation and attractions before the rate increases to the new reduced rate of 12.5%.

Disguised remuneration: deadline for individuals and employers to apply for a refund or waiver from the Disguised Remuneration Repayment Scheme 2020.

CTSA: deadline for returns for accounting periods ended 30 September 2020 to reach HMRC.

SDLT: Nil rate band reduces from £250,000 to £125,000.

ITSA: deadline to notify chargeability for income tax/capital gains tax for 2020/21 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.

Trusts: deadline for registering trusts on HMRC’s Trust Registration Service if they became liable for income tax or capital gains tax for the first time in the 2020/21 tax year.

Pensions: deadline for pension administrators to give a pension savings statement to scheme members if their pension inputs in the scheme in 2020/21 exceed the annual allowance.

US tax: deadline for US expatriates to file 2020 US tax returns if they have obtained a filing extension. If 2020 returns have not been filed by this date, the IRS may accept a written request for a further two-month extension to 15 December 2021.

Employers: deadline for paying PAYE settlement agreement tax/class 1B NIC liabilities for 2020/21. Postal payments must reach the HMRC Accounts Office by 19 October and electronic payments be cleared in HMRC’s bank account by 22 October.

ITSA: deadline for paper submission of self assessment tax returns for the tax year ended 5 April 2021 to be received by HMRC.

CTSA: deadline for returns for accounting periods ended 31 October 2020 to reach HMRC.

CTSA: deadline for returns for accounting periods ended 30 November 2020 to reach HMRC.

ITSA: deadline for online submission of self assessment tax returns for tax year ended 5 April 2021 for HMRC to collect tax through PAYE codes where taxpayer owes less than £3,000.

CTSA: deadline for returns for accounting periods ended 31 December 2020 to reach HMRC. 

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.

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: penalty charged where 2020/21 self assessment tax return was not filed on time and was issued before 1 November 2021.

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.

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).

CTSA: returns for accounting periods ended 28 February 2021 should reach HMRC.

Note: Information is correct at the time of going to press.