If you worked in any of these countries, you could be due a Tax Refund

Crucial Dates for the UK Tax Year: A Comprehensive Guide

#TaxTipsUK #TravelTipsUK

Get your key tax deadlines and dates for the UK tax year.

The UK tax year and the UK calendar year do not run consecutively.

This means that the tax year does not start on 1 January and ends on 31 December.

Instead, the UK tax year has its own unique dates.

Knowing when to file your taxes can make all the difference come tax season, especially if you're considering a UK tax refund.

With that in mind, here's a list of all the key UK tax dates!

 

PAYE Key Tax Dates:

5 April 2024

End of tax year 2023/24.

6 April 2024

First day of the new tax year 2024/25.

5 April 2024

Deadline for claiming your PAYE tax refund for the 2019/20 tax year.

31 May 2024

Copies of 2023/24 P60 documents issued to employees.

6 July 2024

Copies of 2023/24 P11d documents issued to employees.

Get Your UK Tax Refund!

Read more about income tax in the UK here.

 

Self-Assessed Key Tax Dates:

31 January 2024

Deadline to file your UK self-assessment tax return for 2023/24.

Deadline to pay any remaining balance of tax owed for the same tax year.

Deadline for the 1st payment on account for the 2023/24 tax year. 

5 April 2024

Last day of 2023/24 tax year. Also the deadline for claiming tax overpaid for the 2019/20 tax year under self-assessment.

6 April 2024

First day of the new tax year 2024/25.

6 April 2024

Time to gather detailed documents for your 2023/24 tax return if you’re self-employed or have income from property in the previous tax year.

31 May 2024

Last date to give employees a form P60 for 2023/24.

06 July 2024

Copies of 2023/24 P11d documents issued to employees.

31 July 2024

Deadline for 2nd payment on account for the tax year ending 5 April 2024.

5 October 2024

Deadline to register with the HMRC if you became self-employed or started receiving income from property during the 2023/24 tax year. 

31 October 2024 (midnight)

Deadline for paper self-assessment returns for the 2023/24 tax year.

30 December 2024

Deadline for online submission of self-assessment tax returns for the year ending 5 April 2023 if you want HMRC to collect tax through your tax code where you owe less than £3,000 you already paid tax through PAYE system.

31 January 2024 (midnight) 

Online self-assessment tax returns for 2023/24 tax year must be submitted by this date.

Need help filing your UK self-assessed tax return?

Read more about self-assessed tax returns in the UK here

 

Income tax in the UK

Most workers in the UK pay income tax through the PAYE (Pay As You Earn System) system. Your employer uses this to withhold income tax and national insurance contributions from your wages to pay directly to the HMRC (HM Revenue & Customs).

Income tax in the UK


Tax Code

Your tax code is used by your employer to work out how much income tax you need to pay. This tax code changes every year and you may be paying the incorrect amount of tax if you’re on the wrong tax code. You may be able to claim a rebate if you’ve paid too much. You’ll find the code on your payslips. The tax year in the UK is from 6 April to 5 April.

Download your FREE UK Tax Guide

Get Yours Here!

UK Income Tax FAQ

 

How Much Tax Do I Pay?

How much income tax you must pay depends on:

  • How much you earn over your Personal Allowance
  • How much of your income falls within each tax band

 

Tax-Free Personal Allowance

You don’t need to pay tax on income up to £12,570 as this is the standard Personal Allowance. Your Personal Allowance may be higher if you claim a Marriage Allowance or a Blind Person’s Allowance or smaller if your income exceeds £100,000.

 

Band Taxable Income Tax Rate
Personal Allowance Up to £12,570 0%
Basic Rate £12,571 to £50,270 20%
Higher Rate £50,271-£125,139 40%
Additional Rate Over £125,140 45%

*You don’t get a Personal Allowance on income over £125,140.

 

National Insurance Contributions

As an employee, you pay National Insurance Contributions if you earn more than £242 a week. You pay 10% (reduced from 12% in 2023) of your earnings above this limit and up to £967 a week and the rate drops to 2% of your earnings over £967.

 

These contributions qualify you for certain benefits including:

  • Basic state pension
  • Additional state pension
  • New state pension
  • Contribution-based jobseeker’s allowance
  • Contribution-based employment and support allowance
  • Maternity allowance
  • Bereavement benefits

 

Rates for 2023/24:

Your pay (pw) Class 1 National Insurance Rate
£242-£967 10%
Over £967 2%

*You’ll pay less if you’re a married woman or widow with a ‘certificate of election’ or if you’re deferring National Insurance contributions because you have more than one job.


You must tell HMRC if you:

  • Change your personal details (name, address, etc.)
  • Or become self-employed

 

If you become unemployed or can’t work due to illness, you may be able to apply for National Insurance credits to fill any gaps in your contributions.

 

What do those terms on my payslip mean?

Your Payslip Explained:

Sample PAYE slip

 

Do I need to file a tax return?

Do I need to file a tax return?

Most employees in the UK pay tax through their company’s payroll system and are not required to file a tax return.

However, always remember that when you file a tax return, you can then claim your tax refund.

 Reasons you may need to file:

  • You’re self-employed and earned more than £1,000
  • You’re in partnership or a company director
  • You’re a higher rate taxpayer with annual income of £100,000
  • You have investment income of £10,000 or more
  • You have capital gains in excess of the exempt amount
  • You earned foreign income
  • You have rental income
  • You have a tax liability but no PAYE source of income

 

You should tell the HMRC if you think you need to file a tax return, but sometimes HMRC may issue a tax return to fill in based on information from third parties (e.g. employers of expatriates).

If you are unsure whether you should file a tax return or not, you can contact Taxback.

 

What if I leave my job?

If you leave your job your employer must give you a form called a P45. This is a record of your pay and the tax that has been deducted so far in the tax year.

 

It shows you:

  • Tax code and PAYE (Pay As You Earn) reference number
  • National Insurance number
  • Leaving date
  • Earnings in the tax year
  • How much tax was deducted from your earnings

 

Your employer will submit this information directly to HMRC on the last date that they pay you. This can be also used to find out if you’re due a tax refund. If you don’t get a P45, you should request one from your employer as you may need it to claim back any overpaid tax. It’s also important to have a P45 if you start a new job so you are taxed correctly.

 

If I get married?

If you get married, you may want to apply for the Marriage Allowance. This lets you transfer £1,260 of your Personal Allowance to your spouse or civil partner which could reduce their tax by up to £252 each tax year.

You can also backdate your claim to the date of marriage. To be eligible, your partner must earn between £12,571 and £50,270 a year before tax. If you or your partner was born before 6 April 1935, you may benefit more from Married Couple’s Allowance instead.

 

What benefits do I pay tax on?

Taxable and Tax-Free Benefits you pay tax on:

  • State Pension
  • Jobseeker’s Allowance
  • Carer’s allowance
  • Incapacity Benefit
  • Bereavement allowance
  • Widow’s Pension
  • Widowed Parent’s allowance
  • Pension paid Industrial Death Benefit
  • Employment & Support Allowance (contributions based)

 

Tax-free state benefits:

  • Working tax credit
  • Child tax credit
  • Housing benefit
  • Guardian’s Allowance
  • Pension credit
  • Winter fuel and bonus scheme
  • Disability Living Allowance
  • Employment and Support Allowance (income related)
  • Maternity Allowance

Download your FREE UK Tax Guide

Get Yours Here!

How am I taxed if I live abroad?

What if I live abroad?

You may be taxed on your income in the UK and in the country you reside in. However, the country where you’re resident may have a double taxation agreement with the UK and in this case, you don’t need to pay twice. 

You can look up countries that have a double taxation agreement with the UK here. Depending on this agreement you can:

  • Get partial or full relief before you’re taxed
  • Apply for a refund after you’ve been taxed

 

Am I due a tax refund?

You may be able to claim a tax refund if you:

  • Arrive or leave the UK during the tax year
  • Work less than the full tax year
  • Have been working on a casual basis
  • Had more than one job through the tax year
  • Are a student working in the holidays
  • Sent a tax return and paid too much tax
  • Overpaid tax on pension payments
  • Bought a life annuity
  • Paid on savings interest if you’re on a lower income
  • You live in one country and earn income in another

If you're wondering - 'How much tax rebate will I get?' - just use our calculator to find out!

 

What if I’m a non-resident? 

Non-residents only pay tax on their UK income or on UK sources of personal income, such as interest on UK bank accounts, UK dividends and UK rental income.

Am I a resident or non-resident?

You will be taxed as a resident if you spend 183 days or more in the UK in a tax year. The Statutory Residence Test can help you determine whether you are a resident or not. Residents normally pay UK tax on all their income, whether it's from the UK or abroad. However, there are special rules for UK residents whose permanent home ('domicile') is abroad.

 

Non-residents don’t usually pay UK tax on:

  • State Pension
  • Interest from UK government securities (‘gilts’)
  • Tax on savings interest is deducted by the bank or building society unless you give them form R105.

 

These factors can also affect your residence status:

  • Whether your home is in the UK or not
  • If you work in the UK or abroad
  • If you have family and other ties in the UK
  • How long you spend in the UK
  • Whether you have been resident in the UK in previous tax years

 

If you need a hand with your non-resident UK tax, we're here to help!

Get your UK tax rebate

Apply here

Self-Assessed tax in the UK 

Self-Assessed tax in the UK

 

Self-assessed UK tax FAQ:

Who needs to file a self-assessed tax return?

Self-assessment is a system used by the HMRC to collect income tax from sources where it hasn’t been automatically deducted, such as self-employment and rental income, etc.

 

You should file a tax return if:

  • You were self-employed
  • You are a company director
  • You earn over £50,000 and you or your partner claims Child Benefit
  • You earned over £2,500 in untaxed income such as renting income, investments or savings
  • You had savings and investments exceeding  £10,000 before tax
  • Your income exceeded £100,000
  • You lived abroad and had a UK income
  • You had dividends from shares

There may be other circumstances where you should file a tax return. Please email info@taxback.com if you are unsure.

Sometimes HMRC may send a letter requesting a tax return and you must submit one, even if you are not required to pay any tax.

How much tax you pay depends on your income tax band. The HMRC will calculate what you owe from the information on your tax return.

 

What If I recently became self-employed?

You should register with the HMRC for self-assessment by the 5th of October if:

  • You become self-employed
  • You should file a tax return for any other reason

 

Remember that you need to keep records of your expenses, including statements and receipts so you can fill in your tax return.

 

How do I submit my tax return?

You can send your tax return to the HMRC online or you can get help from Taxback here. If you owe anything to HMRC, you should pay it by the deadline.

You can file your tax return after the end of the tax year on April 5 and the deadline for submitting your paper return is October 31 or January 31 for online returns. 

 

What happens if I file my tax return late?

The penalties for the late filing of a tax return are: 

  • A fixed penalty of £100, due immediately after the filing date (irrespective of whether a taxpayer has no liability or is due a repayment).  
  • If the failure continues for over three months, the penalty level escalates by a fixed £10 per day up to a maximum of 90 days.  
  • Where the failure is prolonged beyond six or twelve months, there are further penalties of either £300 or 5% of the tax liability on the return (whichever is the greater).

 

The penalties for the late payment of tax are:

  • 30 days late 5% of the tax owed at that date.
  • 6 months late 5% of the tax owed at that date. This is in addition to the 5% already charged after 30 days.
  • 12 months late 5% of the tax owed at that date. This is in addition to the two 5% penalties already charged.

There is also late payment interest of 3% and surcharges for any tax or penalty not paid by the due date


What allowable expenses can I claim?

You can claim an expense if it is ‘wholly and exclusively’’ for the purposes of operating your business.

 

Some common deductions include:

  • Computers used solely for business purposes Bills for a business premises-rent, power, heating costs
  • Motoring expenses such as repairs, servicing, car and van insurance
  • Hotel room costs and subsistence overnight Mileage (unless the self-employment is at the same location for a period of more than 24 months as the cost of travel between your workplace and home is not allowable) Specialist clothing 
  • Phone/broadband expenses 
  • You can read more about self-employed expenses in the UK here.
  • Important: Remember to always keep a record of your expenses. If you need help filing your UK self-assessed tax return or want to find out what other deductions you could be eligible for then get help with Taxback. 

Get your UK tax rebate

Apply here

About The Author

Ciara Kennedy - Digital Content Writer @ Taxback.com

Ciara is our Digital Content Writer at Taxback.com. Since graduating in Journalism and Visual media, Ciara has worked in online marketing in Ireland and Australia and loves writing in all its forms.

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