19/03/2025 – CIS return: payments made to subcontractors in the month to 5 March 2025
If your business is registered under the Construction Industry Scheme (CIS) and you’ve made payments to subcontractors between 6 February and 5 March 2025, you must submit your CIS return by 19 March 2025. This return details the payments made and any deductions taken for tax purposes. Even if no payments were made during this period, you must still file a nil return to avoid penalties. Failure to submit on time could result in automatic fines from HMRC, starting at £100 for being just one day late. To stay compliant, ensure that all subcontractor records are accurate and submit your return well before the deadline.
22/03/2025 – PAYE, NIC and CIS payment (electronic): month-end 5 March 2025
For businesses making electronic payments of PAYE, National Insurance Contributions (NIC), and Construction Industry Scheme (CIS) deductions for the period ending 5 March 2025, the deadline is 22 March 2025. This extended deadline applies only to payments made via online banking, direct debit, or other electronic methods. Ensuring your payment reaches HMRC on time is crucial to avoid interest charges or penalties. Since some payment methods take longer to process, it’s best to initiate transactions a few days in advance. Using electronic payments is not only faster and more secure but also provides instant confirmation of receipt, helping businesses maintain compliance with HMRC requirements.
26/03/25 – Spring Forecast
On 26 March 2025, the UK government will release its Spring Forecast, which typically includes important updates on economic projections, fiscal policy, and potential changes to tax regulations. This annual event can significantly impact businesses and their financial planning, as it may introduce new measures aimed at stimulating growth or addressing economic challenges. Staying informed about these developments is crucial for business owners, as the forecasts can influence investment decisions, budget allocations, and overall strategic planning. It’s advisable to review the Spring Forecast closely and consider how any proposed changes may affect your business operations and financial strategy moving forward.
31/03/2025 – Corporation Tax returns: 31 March 2024 year ends
Companies with a financial year ending on 31 March 2024 must file their Corporation Tax return (CT600) by 31 March 2025. UK companies are required to submit their return to HMRC within 12 months of their accounting period end, detailing their taxable profits and any Corporation Tax owed. Even if no tax is due, the return must still be filed to avoid penalties. Late submissions can result in automatic fines, starting at £100 for being just one day late, with further penalties increasing over time. To stay compliant, ensure all financial records are accurate and submit your return well before the deadline, preferably using HMRC-recognized accounting software for a smooth process.
31/03/2025 – Annual Tax on Enveloped Dwellings: amend ATED returns for year to 31 March 2024
Businesses and individuals owning UK residential properties valued over £500,000 through a company or corporate structure must review and amend their Annual Tax on Enveloped Dwellings (ATED) return for the period ending 31 March 2024 by 31 March 2025. This deadline allows property owners to correct any errors or update details in their previously submitted return. If amendments are needed, it’s important to act promptly to avoid potential penalties or interest charges from HMRC. Keeping accurate records of property valuations and tax payments ensures compliance and prevents unexpected tax liabilities. If you’re unsure about your ATED obligations, seeking professional tax advice can help navigate the complexities of this levy.
31/03/2025 – Stamp Duty Land Tax: cuts introduced on 23 September 2022 reversed
As of 31 March 2025, the temporary cuts to Stamp Duty Land Tax (SDLT) introduced on 23 September 2022 will be reversed. This means that property buyers may face higher SDLT rates, which could impact affordability and demand in the housing market. The reversal of these cuts is part of the government’s ongoing efforts to balance the budget and manage public finances amid changing economic conditions. For businesses and individuals planning property transactions, it’s essential to factor in these potential increases when budgeting for property purchases. Staying informed about SDLT changes can help you make more strategic decisions and avoid unexpected costs in the property market.
31/03/2025 – Capital Allowances: 100% First Year Allowance for zero-emissions goods vehicles due to end for Corporation Tax purposes
The 100% First Year Allowance for zero-emissions goods vehicles will come to an end on 31 March 2025 for Corporation Tax purposes. This incentive has encouraged businesses to invest in environmentally friendly vehicles, allowing them to deduct the full cost of qualifying zero-emission vehicles from their taxable profits in the year of purchase. After this deadline, companies will need to revert to standard capital allowance rates, which may reduce the immediate tax benefits associated with purchasing new vehicles. If your business is considering investing in zero-emission goods vehicles, it’s crucial to act before this deadline to maximize your tax relief. Assess your fleet needs and consult with a tax advisor to ensure you take full advantage of this opportunity before it expires.
Conclusion: Stay Compliant and Focus on Growth
Staying on top of key accounting deadlines is essential for keeping your business compliant and avoiding unnecessary penalties. March 2025 brings several important dates for Corporation Tax, VAT, PAYE, CIS, and ATED, so planning ahead is crucial. By ensuring your returns are submitted and payments are made on time, you can maintain good financial health and focus on growing your business.
If you need support with your accounting or tax obligations, Accounting Wise is here to help—get in touch with our expert team for guidance and hassle-free compliance.
