Key dates for Self-Assessment, payments on account, and end-of-year tax planning. Plan for a smooth 2025 tax year today!

For self-employed individuals and small business owners, staying ahead of key tax deadlines is essential to avoid penalties and reduce stress. Careful planning will allow you to keep your finances on track and focus on growing your business. Below we have listed important tax deadlines for early 2025:

January 2025

• 31 January:
  • Deadline for submitting your online Self-Assessment tax return for the 2023/24 tax year.
  • First payment on account for the 2024/25 tax year is due. This advance payment helps spread the cost of your next tax bill, particularly for self-employed individuals with untaxed income.

February 2025

While February may not have many deadlines for self-employed individuals, it’s an excellent month to start preparing for the end of the tax year. Key actions to consider:

• Review your income and expenses to ensure you’ve claimed all eligible deductions and allowances.
• Make last-minute contributions to pensions or ISAs to maximise your tax efficiency.
• Check that all your bookkeeping and financial records are up to date.

If you’re in the Construction Industry Scheme (CIS), remember:

• 19 February: CIS returns for the month ending 5 February 2025 are due.

March 2025

March is your last chance to finalise your end-of-year tax planning before the new tax year begins. Use this time to:

• Ensure you’ve made the most of tax reliefs available to small businesses and self-employed individuals.
• Plan any upcoming business expenses to maximise tax benefits in the current year.

For those in the CIS:

• 19 March: CIS returns for the month ending 5 March 2025 are due.

April 2025

• 6 April: The 2025/26 tax year begins. This is when any changes to tax rates or allowances take effect. Ensure you understand how these updates might impact your income, business strategy, or cash flow.

Why Planning Matters

Staying ahead of these deadlines is crucial for self-employed individuals and small businesses. Missing deadlines or failing to plan effectively can result in penalties, cash flow issues, and added stress. February and March offer a great opportunity to reflect on the previous tax year and make adjustments to improve your financial management moving forward.

How Whittaker & Co Can Help

We support self-employed professionals, tradespeople, and small business owners by managing Self-Assessment, payments on account, and tax planning. From registering for self-employment and keeping track of income and expenses to preparing end-of-year accounts and submitting tax returns on time, we’ll simplify the process and maximise your deductions, so you can focus on running your business.

As the year progresses, we’ll continue to share updates on additional 2025 tax deadlines to ensure you stay fully prepared.

Self Assessment tax returns: Deadlines – GOV.UK

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