Category 3
MTD Deadlines
MTD adds quarterly update deadlines during the tax year, plus Self Assessment payment and final declaration dates.
What it is
Under MTD for Income Tax you must meet quarterly update deadlines tied to your accounting period, as well as existing Self Assessment deadlines for paying tax and submitting your final declaration.
Who it applies to
Anyone required to follow MTD for Income Tax must meet the quarterly timetable HMRC sets for their business. VAT-registered businesses have separate VAT Return deadlines.
What you need to do
- Note your quarterly period end dates in your software or calendar.
- Submit each quarterly update by the deadline HMRC gives you.
- Complete your final declaration and pay any tax due by 31 January after the tax year.
Key points
- Missing a quarterly update can result in penalties.
- Payment on account dates (31 January and 31 July) still apply for many taxpayers.