For your tax diary …

January 31:

Deadline for sole traders and partnerships to: send in a completed tax return for 2001/2002 tax year; make final payment of tax due for that year; make first payment on account for the current tax year.

February 28: Any unpaid tax for 2001/2002 will be increased by an automatic 5% surcharge.

May 19: Submit annual return (P35) if your business has employees.

May 31: Annual statements of pay and tax deductions (P60) due.

July 6: Provide a statement (P11D) of any benefits in kind paid to your employees earning over £8,500.

July 31: Sole traders and partners to make second payment on account for 2001/2002. Outstanding tax returns for 2001/2002 will trigger a second £100 late filing penalty and tax outstanding generates 5% surcharge.

September 30: Tax return to previous 5 April to reach Revenue if you wish it to work out your tax liabilities or you want your tax bill collected through next year’s PAYE code.

19th of each month: Pay Revenue PAYE and NIC due for employees on their salary for previous month.

End of the month: If you are VAT-registered, send VAT return form VT100 and tax due to Customs.

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