HM Treasury’s United Kingdom Budget 2007

Grant Thornton

Grant Thornton

Key filing dates

Income tax and capital gains tax

  • Self assessment tax return
    • 31 January following end of year of assessment1.

Inheritance tax

  • Chargeable lifetime transfer
    • later of 12 months after end of month of transfer and 3 months after person becomes liable to tax
  • Transfers on death
    • later of 12 months after end of month of death or 3 months after personal representatives first act or believe an account is required
  • Potentially exempt transfers that have become chargeable
    • 12 months after end of month of death of transferor.

Corporation tax

  • All companies
    • 12 months after end of accounting period.

Value added tax

  • 1 month2 after end of return period, or 2 months for annual returns.

Stamp duty land tax

  • 30 days from effective date of land transaction.

Employment taxes

  • • Forms P35 and P14 to H Revenue & Customs4
    • 19 May following end of tax year4.
  • Forms P60 to employees
    • 30 May following end of tax year3.
  • Forms P9D/P11D to H Revenue & Customs and copies to employees
    • 6 July following end of tax year.
  • • Return of class 1A NICs
    • 6 July following end of tax year4.
  • • Employment related securities form 42
    • 6 July following end of tax year.

1 Assumes request for return issued pre 31 October after year of assessment – date advances to 3 September if taxpayer wants underpayment of less than £2, to be coded-out in following tax year, 31 December if filing electronically.
2 7 day extension may apply where payments made by electronic means.
3 For employees in that employment at 5 April in tax year.
4 Penalties apply automatically.

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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