UK Tax Year Dates and Deadlines 2024/25
Understanding tax year dates and return deadlines is essential for individuals, businesses, and contractors in the UK. Missing these deadlines can lead to fines, penalties, and financial stress. Whether you are self-employed, employed, or running a limited company , knowing your tax obligations helps with financial planning and compliance. This guide covers the UK tax year dates and deadlines for 2024/25 and penalties for late submissions. What is the UK Tax Year? The tax year is the period used by HMRC to calculate taxable income, expenses, and payments. In the UK, the standard tax year runs from 6th April to 5th April of the following year. For the 2024/25 tax year: Start date: 6th April 2024 End date: 5th April 2025 These dates are crucial for individuals and businesses, as they define the timeframe for reporting income and claiming deductions. They also influence tax calculations for PAYE, National Insurance, and other obligations. Key Tax Year D...