Important Financial Dates 2020-21

By Nikki Sage 50 Accounts 0 Comments

Read our round up of the most important financial dates for the year 2020/21.

With 2020 drawing to a close it’s a good time to make sure you are up-to-date with your accounting processes and financial requirements. There are some key dates approaching in the next couple of months that will bring the tax year 2020/21 to an end.

December 2020

7th – Deadline for VAT returns

30th– Deadline for online submission of Self Assessment tax returns for tax year ended 5 April 2020

31st– Due date to file Corporation Tax for companies with 31 December 2019 year end
Due date to file company accounts with Companies House for limited companies with 31 March 2019 year end

January 2021

14^th – Income tax due date for CT61 period to 31 December 2020

31^st – The deadline for submitting online self-assessment returns for the 2019/20 period.

March 2021

1^st – New Advisory Fuel Rates (AFR) comes into effect for company car users.

The Domestic Reserve Charge for VAT on Construction and building services also comes into force on 1^st March 2021.

31^st– The coronavirus furlough scheme is due to end.

April 2021

1^st – The new financial year begins

5^th – The 2020/21 tax year ends

VAT payments deferred from 20^th March 2020 and 30^th June 2020 as a result of the coronavirus pandemic are also due by 5^th April 2021.

6^th– The 2021/22 tax year begins

IR35 also comes into force on the 6^th April in the private sector.

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