Tax calendar 2008

February

19 PAYE/NIC and CIS deductions due for month to 5/2/08.
22 PAYE/NIC and CIS electronic payments due for month to 5/2/08.
28 5% penalty surcharge on any 2006/07 unpaid IT and CGT due on 31/1/07.
29 Accounts filing deadline at Companies House for private companies with year ended 30/4/07. Companies submit corporation tax self-assessment returns to HMRC for accounting periods ended 28/2/07.

March

19 PAYE/NIC and CIS deductions due for month to 5/3/08.
21 PAYE/NIC and CIS electronic payments due for month to 5/3/08.
31 Last-minute planning for tax year-end 2007/08. Make sure you use any CGT and IHT annual allowances and exemptions. Accounts filing deadline at Companies House for private companies with year ended 31/5/07. Companies submit corporation tax self-assessment returns to HMRC for accounting periods ended 31/3/07.

April

1 First year capital allowances replaced by annual investment allowance of £50,000.
5 End of 2007/08 tax year. Taper relief and indexation allowance is withdrawn for individuals.
6 Beginning of 2008/09 tax year. Flat rate of CGT of 18% applies to all non-corporate gains. Company car fuel benefit multiplier increases to £16,900. Accumulation and maintenance trusts created before 22/3/06 become subject to IHT under discretionary trust rules. Disposals subject to CGT cease to attract indexation and taper relief, according to announcements in the 2007 Pre-Budget report.
14 Due date for the CT61 return and tax payment for the quarter to 31/3/08.
19 PAYE/NIC and CIS deductions due for month to 5/4/08 and quarter 4 for small employers (interest will run on any unpaid PAYE/NIC for the tax year 2007/08).
22 PAYE/NIC and CIS electronic payments due for month/quarter to 5/4/08.
30 Accounts filing deadline at Companies House for private companies with year ended 30/6/07.Companies submit corporation tax self-assessment returns to HMRC for accounting periods ended 30/4/07.

May

3 Submission date for forms P46 (Car) for changes during the quarter ended 5/4/08 to car and fuel benefits provided to employees.