Deadlines collect like fallen leaves in October, so be sure you don’t slip-up on one.
Where a taxpayer is not already within self-assessment and has a new source of taxable income or gains in 2018/19 which will not be covered by allowances, they need to register for self assessment.
Where the taxpayer has started a self-employed trade they should complete form CWF1, if the income is from savings or rental they should complete form SA1. Using the wrong form could result in class 2 NIC not being collected, see our newsletter 1 August 2019.
Taxpayers who have made pension contributions in excess of their annual allowance in 2018/19 should be told about that excess payment by their pension scheme administrator by this date. It can be quite easy to exceed the MPAA (our newsletter 24 January 2019) or the restricted annual allowance (newsletter 25 October 2018).
Ask clients if they have received a letter from their pension administrator as any excess contributions need to be declared on their tax return, in order to assess the annual allowance charge.
US citizens and US green-card holders need to submit their 2018 tax return by this date, if they have already obtained a filing extension. It is possible to get a further extension until 15 December, but specialist advice should be taken.
Tax due from PAYE settlement agreements for 2018/19 must be paid.
First-time buyers who purchased a property within a shared-ownership scheme from 22 November 2017 to 29 October 2018 have until this date to claim relief from SDLT and request a repayment.
31 October: Brexit day (as currently planned)
Any VAT paid on business expenses incurred in other EU member states in 2019 needs to be claimed by 5pm, using the HMRC online VAT service. Refunds of VAT incurred after this date will need to be submitted to the tax authority of the country where the VAT was charged.
Final day to submit a paper SA return, if the taxpayer’s circumstances do not fall within one of the online filing exclusions.
Written by the Tax Advice Network