Small business 2016 dates for the diary

With so many different aspects of a business to keep track of, sometimes certain dates and deadlines can slip under your radar. While missing certain, less important deadlines won’t have that much of an impact on your business, others can bring with them serious consequences, such as financial penalties.

14 December 2015

To help you make sure you’re prepared for the year ahead, we've put together some important dates you need to be aware of.

Employer tax deadlines

Regardless of whether you manage your businesses taxes yourself or outsource this to an accountant, it’s still important that you are aware of the following deadlines.

April

  • 6th – First day of the new tax year – 2016/2017
  • 19th – Deadline for postal payments to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs for the tax year ending 5th April 2016
  • 22nd – Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5th April 2016

May

  • 31st – Last date for giving a form P60 for 2015-2016 to each relevant employee who was working for you on 5th April 2016

July

  • 5th – Last date for agreeing PAYE Settlement Agreements for 2015-2016 (if any)
  • 6th – Deadline for submitting form 42 or other relevant forms to report share-related benefits provided to employees
  • 6th – Deadline for filing forms P9D, P11D, P11D(b), or substitutes for the tax year ending 5th April 2016
  • 6th – Last date to give forms P9D and P11D to relevant employees
  • 19th – Deadline for postal payments to reach HMRC Accounts Office for any outstanding Class 1A NICs for the tax year ending 5th April 2016
  • 22nd – Final date for electronic payments to be cleared in HMRC’s bank account for any outstanding Class 1A NICs for the tax year ending 5th April 2015
  • 31st – Deadline for second Self-Assessment payment on account for tax year ended 5th April 2016

October

  • 5th – Deadline for notify chargeability for Income Tax/Capital Gains Tax for 2015-2016 if not registered for Self-Assessment. Complete form CWF1 for self-employment or form SA1 for non-self-employed income, or form SA401 for partners
  • 31st – Midnight deadline for paper submission of Self-Assessment tax returns for tax year ended 5 April 2015 to be received by HMRC

December

  • 30th – Deadline for online submission of Self-Assessment tax returns for tax year ended 5th April 2016 for HMRC to collect tax through clients’ PAYE codes, where they owe less than £3,000

business calendar

Pension automatic enrolment staging deadlines

Automatic enrolment was introduced as part of the Pensions Act 2008, and was rolled out to larger businesses from October 2012. Under the new legislation, employers are legally obligated to enrol all eligible employees into qualifying workplace pensions.

While larger businesses will have already staged, 2016 sees the legislation rolled out to smaller companies. The below table explains when your business needs to begin complying with the legislation.


Did you know our gas contracts offer fixed rates for up to five years?

Find out more about our Shield gas product


Number of employees or PAYE reference

Staging Date

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 02-04, C1-C9, D1-D9, CA-CZ or DA-DZ

01-Jan-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 00 05-07, E1-E9 or EA-EZ

01-Feb-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 01, 08-11, F1-F9, G1-G9, FA-FZ or GA-GZ

01-Mar-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 12-16, 3A-3Z, H1-H9 or HA-HZ

01-Apr-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers I1-I9 or IA-IZ

01-May-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 17-22, 4A-4Z, J1-J9 or JA-JZ

01-Jun-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 23-29, 5A-5Z, K1-K9 or KA-KZ

01-Jul-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 30-37, 6A-6Z, L1-L9 or LA-LZ

01-Aug-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers N1-N9 or NA-NZ

01-Sep-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 38-46, 7A-7Z, O1-O9 or OA-OZ

01-Oct-16

Fewer than 30 employees with the last 2 characters in their PAYE reference numbers 47-57, 8A-8Z, Q1-Q9, R1-R9, S1-S9, T1-T9, QA-QZ, RA-RZ, SA-SZ or TA-TZ

01-Nov-16

Bank Holidays

As an employer, you are legally obligated to provide your employees with a minimum holiday entitlement, which will include bank holidays, unless your employment contracts state otherwise. The bank holiday dates for 2016 are as follows:

  • 1st January – New Year’s Day
  • 25th March – Good Friday
  • 28th March – Easter Monday
  • 2nd May – Early May bank holiday
  • 30th May – Spring bank holiday
  • 29th August – Summer bank holiday
  • 26th December – Boxing Day
  • 27th December – Christmas Day (substitute day)

Budget 2016

The annual Budget, just like the Autumn Statement, will introduce changes that will directly impact small businesses in the UK, so it is important that as a business owner, you are aware of these changes. It was recently announced that next year’s budget will be published on 16th March.

All above dates are accurate at time of publication.

For more of the latest news, articles and features from Gazprom Energy, visit our blog and newsfeed. Alternatively, visit the homepage to find out more about our business energy solutions, or call us on 0161 837 3395.


Share this


You may also like...

}