Although we have summarised the various filing and tax payment deadlines for July in the tax diary it is worth looking at the detail – July is a busy month.
6 July 2012
Filing deadline forms P11D, P9D and P11D(b) 2011-12. As this newsletter is being published on 5 July we sincerely hope that readers have already filed these annual returns that disclose benefits paid to employees and directors during 2011-12.
Distribute copies of P11D and P9D forms to employees.
Redundancy report. Employers who have provided a redundancy package during 2011-12, which includes benefits in kind and which over its lifetime is estimated to be worth more than £30,000, must report details to HMRC by today.
Unapproved share schemes. Deadline to inform HMRC of any reportable events for 2011-12.
Tax approved share schemes. Return deadline on statutory forms due today in respect of tax approved share schemes including Enterprise Management Incentive schemes.
7 July 2012
Retired employees’ non-cash benefits. Any non-cash benefits provided to retired employees under an employer financed retirement benefit scheme should be reported to HMRC by today. Benefits are taxable unless exempted or below the £100 per annum de minimis.
19 or 22 July 2012
Payment of Class 1A NICs for 2011-12. Payment deadline is 19 July if paying by cheque or 22 July if paying electronically – payments must clear by 22 July if paid electronically.
31 July 2012
Late filing 2010-11 self-assessment return. If you have still not filed your SA return for 2010-11 by today, a further tax related penalty will be charged. The penalty will be £300 or 5% of tax liability whichever is the higher amount.
2nd payment on account 2011-12. This amount is usually based on 50% of the reported self-assessment liability for 2010-11, unless adjusted.
Tax credit renewals. Deadline to renew tax credit claims for 2012-13 and to return final income figures for 2011-12. It is possible to provide estimated figures for 2011-12 but the final figures must be provided by 31 January 2013.