The 2025/26 tax year is quickly approaching, bringing with it a new set of deadlines and potential legislative changes that both businesses and individuals need to be aware of. From the continued transition to Making Tax Digital (MTD) to updates in National Insurance Contributions and the National Minimum Wage, staying informed is crucial to ensure compliance and avoid potential penalties.
This article offers a detailed summary of the important dates for the 2025/26 tax year. offering valuable insights for both businesses and individuals. We will cover essential deadlines such as Self Assessment submissions, employer obligations, and VAT return dates. By understanding these key dates and proactively addressing your tax obligations, you can navigate the tax year with confidence and minimise the risk of penalties.
Important dates for the 2025/2026 tax year
April 2025
6th April: The 2025/26 tax year officially commences. This marks a significant date as it brings into effect any changes to tax rates, allowances, and National Insurance contributions.
Key changes:
- National Insurance Contributions (NICs): Employers will face an increase in NICs by 1.2 percentage points, reaching 15%. Additionally, the annual threshold for employers to start paying NICs will be lowered to £5,000.
- National minimum wage: The National Minimum Wage for 18-20-year-olds is set to rise to £10 per hour, while the living wage for individuals aged 21 and over will increase from £11.44 to £12.21.
- State pension: Both types of state pension will receive a 4.1% increase.
- Non-Dom tax regime: The existing non-domiciled tax regime will be abolished.
- 6th April MTD for ITSA deadline: One year to go until MTD for Income Tax Self Assessment (ITSA) for those earning £50,000 or more. With the deadline for MTD for ITSA approaching in April 2026, it is highly recommended that clients begin transitioning to compatible software well in advance.
19th April: Deadline for employers to submit a Full Payment Summary (FPS) and Employer Payment Summary (EPS) for the previous tax year.
30th April: Self Assessment penalties come into effect.
May 2025
31st May: Deadline for issuing P60s to employees who were on the payroll on 5th April 2024. P60s provide employees with details of their earnings and tax deductions for the previous tax year.
July 2025
5th July: Deadline for providing P60s and P11Ds to employees. All employers must ensure they have shared these essential documents with their employees by this date.
6th July: Deadline for employers to report the total Class 1A National Insurance they owe.
22nd July: Employers must pay Class 1A National Insurance contributions by this date (by 19th July if paying by cheque).
31st July: The second payment on account of Self Assessment is due. It is crucial to remind self-employed clients or those with additional income sources to settle any outstanding tax liabilities.
Late P11D(b) Penalties:
- A charge of £100 for every 50 employees will be applied for each month that the submission of P11D(b) is delayed.
- Late payment of tax and National Insurance to HMRC will also result in penalties and interest charges.
October 2025
5th October: Deadline to notify HMRC if you are required to file a Self Assessment tax return. It is particularly important to remind newly self-employed clients or those who need to file a Self Assessment return for the first time.
22nd October: Pay taxes and Class 1B National Insurance if you possess a PAYE settlement agreement (by 19th October if paying by cheque).
31st October: Deadline to file your 2024-25 Self Assessment tax return if filing a paper return.
January 2026
31st January: This date marks a crucial deadline for two essential tax obligations:
- Self Assessment tax return deadline: This is the last date for individuals to submit their Self Assessment tax returns for the 2025/26 tax year.
- First payment on account for 2025/26: The first payment on account for the 2025/26 tax year is also due on this date. This is an estimated payment towards your tax liability for the current tax year.
April 2026
6th April: This date signifies the beginning of the new tax year – the 2026/27 tax year. It’s important to note that this date may bring with it changes to tax rates, allowances, and other relevant tax rules.
Additional key dates for accountants
Corporation tax filing deadlines: Companies must file their corporation tax returns within 12 months of the end of their accounting period.
VAT returns:
These dates represent the standard deadlines for businesses in the UK to submit their Value Added Tax (VAT) returns if they file quarterly.
- 7th May: Deadline for VAT returns covering the period ending 31st March.
- 7th August: Deadline for VAT returns covering the period ending 30th June.
- 7th October: Deadline for VAT returns covering the period ending 30th September.
- 7th February: Deadline for VAT returns covering the period ending 31st December.
Importance of proactive planning in tax preparation
As the 2025/26 tax year approaches, proactive tax planning becomes more crucial than ever for businesses. This period brings a series of critical deadlines that must be carefully monitored to avoid penalties and ensure compliance. By implementing a proactive tax planning strategy, businesses can:
- Identify potential tax savings opportunities: Carefully analysing your financial situation can reveal areas where you can legally minimise your tax burden.
- Optimise cash flow: Proactive planning helps you anticipate and budget for upcoming tax liabilities, ensuring smoother cash flow throughout the year.
- Reduce the risk of audits: Maintaining accurate and up-to-date records can minimise the chances of being selected for an audit.
- Improve overall financial health: A well-defined tax strategy can contribute to a stronger financial position for your business.
Over to you
Key takeaways
- Early planning is crucial: Don’t wait until the last minute to address your tax obligations.
- Seek professional advice: Engage with a qualified tax advisor to guide you through the complexities of the tax year.
- Maintain accurate records: Keep meticulous records of all financial transactions to support your tax filings.
- Stay informed: Stay updated on the latest tax laws and regulations to ensure compliance.
By implementing these strategies, businesses can minimise their tax liabilities, optimise their financial performance, and achieve long-term success.
