As a small business owner, staying on top of important tax deadlines is crucial to avoid penalties and ensure your operations run smoothly. May 2025 brings several key tax dates that all UK businesses must be aware of, from Corporation Tax returns to VAT payments and employee tax forms.
In this post, we’ve outlined the most important tax deadlines for the month, helping you stay organised and compliant with HMRC. Whether you’re filing VAT returns, making PAYE payments, or issuing P60s to your employees, make sure you mark these dates in your calendar to keep your small business accounting on track.
01 May – Corporation Tax Payment for Year Ends 31 July 2024
If your company’s financial year ended on 31 July 2024, your Corporation Tax payment is due by 01 May 2025.
Corporation Tax is payable 9 months and 1 day after the end of your accounting period. This payment must be made on time to avoid late payment penalties and interest charges.
How to pay:
Corporation Tax can be paid through various methods, including online banking, Bacs, or at your bank. Make sure to use your unique payment reference number when submitting the payment to ensure it is credited correctly.
For more information on making payments: Corporation Tax: How to pay – GOV.UK
Ensure your payment is made by the deadline to stay compliant and avoid penalties.
01 May – VAT Fuel Scale Charge: New Rates Apply from the Next VAT Period Beginning on or After 1 May 2025
From 1 May 2025, new rates for the VAT fuel scale charge will apply. The fuel scale charge is used by businesses that reclaim VAT on fuel used for both business and private use in company cars. This charge allows businesses to adjust for private fuel use that’s already been accounted for in their VAT returns.
What to expect:
The new rates will apply from the start of your next VAT period beginning on or after 1 May 2025. Businesses will need to apply these updated rates when calculating the VAT due on fuel for mixed business and private use.
It’s important to check the new rates to ensure accurate VAT returns and avoid any discrepancies.
For more information and updated rates, you can visit the official GOV.UK page here:
VAT Fuel Scale Charge
Ensure you’re ready to apply the new rates for the upcoming VAT period to stay compliant.
03 May – P46 (Car) Paper Submission for Quarter to 5 April 2025
If you’re an employer who provides company cars to employees, you must submit a P46 (Car) form for the quarter ending 5 April 2025 by 3 May 2025.
The P46 (Car) form is used to report details about employees’ company cars and fuel benefits. This is required to ensure that the correct tax is deducted from the employee’s pay based on their car benefit.
Key points to remember:
- P46 (Car) forms must be filed quarterly for employees who receive a company car.
- If you have any changes to report (such as a new car or a change in the employee’s circumstances), make sure they are included in this submission.
For further details and to submit the form, visit: P46 (Car) guidance – GOV.UK
Ensure the form is submitted on time to avoid penalties for late submission.
05 May – Employment Intermediaries: Report for the Quarter to 5 April 2025
If your business is an employment intermediary, you are required to submit a report to HMRC for the quarter ending 5 April 2025 by 5 May 2025. Employment intermediaries, such as recruitment agencies, must report details of workers they supply to clients.
The report should include:
- The details of workers supplied by your business
- The amount paid to each worker
- Any tax deductions made, if applicable
Failure to submit the report on time could result in penalties, so it’s important to ensure all necessary information is included and the report is filed by the deadline.
For more information on the reporting requirements for employment intermediaries, visit:
Employment intermediaries: report your details – GOV.UK
Ensure timely submission to stay compliant with HMRC regulations.
05 May – Employment Intermediaries: Remove a Report for the Quarter to 5 January 2025
If your business is an employment intermediary, you may need to remove a report submitted for the quarter ending 5 January 2025 by 5 May 2025.
This may occur if there was an error in the previously submitted report or if you no longer need to provide the information for that period. Ensure that the report is correctly removed to avoid any confusion or discrepancies with HMRC.
Steps to take:
- Log into your HMRC online account.
- Locate and remove the report for the quarter ending 5 January 2025.
- Confirm the changes and ensure the removal is processed by the deadline.
For further guidance on how to remove a report, visit Employment intermediaries: reporting changes – GOV.UK
Ensure you take action before the 5 May deadline to prevent penalties.
07 May – VAT Return Payment for Month-End or Quarter Ending 31 March 2025
If your VAT accounting period ends on 31 March 2025, your VAT return payment is due by 7 May 2025. This applies to businesses with a monthly or quarterly VAT return period ending on the last day of March.
What to do:
- Ensure that your VAT return for the period ending 31 March 2025 is submitted on time.
- Make any necessary payments for the VAT due for that period.
- If you’re making the payment electronically, be sure to use your unique payment reference number to ensure the payment is properly credited to your VAT account.
For more details and to submit your return: Submit your VAT return – GOV.UK
Make sure to file your return and make the payment by the deadline to avoid penalties and interest charges.
07 May – VAT Return Submission (Online) for Month-End or Quarter Ending 31 March 2025
If your VAT accounting period ends on 31 March 2025, you must submit your VAT return online by 7 May 2025. This applies to businesses with a monthly or quarterly VAT return period ending on 31 March.
Key things to remember:
- Submit your VAT return online using HMRC’s online services or compatible accounting software.
- Ensure that all sales, purchases, and VAT due or reclaimable are correctly recorded.
- Double-check that the correct figures are entered to avoid errors and potential penalties.
For more information on submitting your VAT return online: Submit your VAT return.
Submit your return on time to avoid late submission penalties and keep your business compliant.
