When Does the Tax Year End?

The UK tax year ends on 5 April. Learn key tax deadlines, self-assessment dates, VAT submission rules, and what to do if you miss a tax deadline.

Understanding tax year dates is crucial for filing your self-assessment tax return, VAT submissions, and other financial obligations. Missing deadlines can result in penalties, so it’s essential to stay ahead of key dates.

This guide explains when the UK tax year starts and ends, tax deadlines for self-employed individuals, VAT payers, and PAYE workers, and what to do if you miss a deadline or can’t pay your tax on time.

What Date Does the Tax Year Start and End?

In the UK, the tax year runs from 6 April to 5 April of the following year. Example:-

Tax Year 2023/2024

Start Date 6 April 2023

End Date5 April 2024

or

Tax Year 2024/2025

Start Date 6 April 2024

End Date5 April 2025

Why Does the Tax Year End on 5 April?

The tax year end date originates from the old Julian calendar system used before 1752, when the UK changed to the Gregorian calendar. Despite the shift, the tax year remained fixed on 5 April.

What is the Tax Year End for Self-Employed Individuals?

If you are self-employed, the tax year end is still 5 April, but the deadlines for submitting tax returns and payments are different from PAYE employees.

What is a Self-Assessment Tax Return & When is the Deadline?

A Self-Assessment Tax Return is a tax form used by self-employed individuals, landlords, and those with untaxed income.

Key Deadlines for Self-Assessment:

  • 5 October – Register for self-assessment if it’s your first time.

  • 31 October – Paper tax return submission deadline.

  • 31 January – Online tax return submission deadline.

  • 31 January – Deadline to pay any tax owed.

  • 31 July – Second payment on account (if required).

Example: If you earned self-employed income in the 2023/2024 tax year, you must file your self-assessment by 31 January 2025.

Deadlines for Submitting VAT

If you are VAT-registered, you must submit VAT returns, usually every quarter.

  • VAT returns are due 1 month and 7 days after the end of your accounting period.

  • Example: If your VAT period ends on 31 March, the deadline is 7 May.

  • If you are on Making Tax Digital (MTD), VAT returns must be filed digitally.

Does the Tax Deadline Include Making Payments?

Yes, tax deadlines also apply to payments. If you miss a tax payment deadline, HMRC may issue penalties and interest charges.

For Self-Assessment tax, payments are due:

  • 31 January – First payment (balance and first instalment).

  • 31 July – Second instalment (if required).

For VAT payments, the due date is usually the same as the return submission date (one month and seven days after the VAT period ends).

What Should I Do If I Can’t Pay My Tax on Time?

If you are unable to pay your tax on time, do not ignore the deadline. Instead:

  1. Contact HMRC as soon as possible – Call HMRC’s Payment Support Service at 0300 200 3835.

  2. Set up a Time to Pay Arrangement – This allows you to spread your tax bill over several months.

  3. Check if you qualify for reduced penalties – HMRC may waive penalties if you have a reasonable excuse.

Penalties for Late Payment

  • 1 day late: 5% of tax due

  • 30 days late: Additional 5%

  • 6 months late: Further 5%

Interest is also charged on late payments, so it’s important to act quickly.

What Should I Do If I Miss the Tax Return Deadline?

If you miss the deadline for filing your tax return, file it as soon as possible to reduce penalties.

Penalties for Late Filing:

  • 1 day late: £100 fixed penalty

  • 3 months late: £10 per day (max £900)

  • 6 months late: 5% of tax due or £300 (whichever is greater)

What is the First Day You Can Submit Tax Returns for the Previous Year?

You can start filing tax returns from 6 April for the previous tax year.

For example, if you need to file a tax return for 2023/2024, you can submit it from 6 April 2024.

Should I Submit My Tax Return Early?

Yes! Submitting your tax return early has several advantages:

  • Avoid last-minute stress – No risk of missing deadlines.

  • Get tax refunds sooner – If you overpaid, HMRC will process refunds faster.

  • Plan tax payments – Know how much you owe well in advance.

  • Reduce errors – More time to check for mistakes.

There is no penalty for early submission, so filing before 31 January is recommended.

What is MTD?

Making Tax Digital (MTD) is an HMRC initiative requiring businesses and self-employed individuals to file tax returns digitally.

Who Must Use MTD?

  • All VAT-registered businesses (mandatory since April 2022).

  • Self-employed and landlords earning over £50,000 (from April 2026).

  • Self-employed and landlords earning over £30,000 (from April 2027).

MTD requires businesses to:

  • Keep digital tax records.

  • Use HMRC-approved accounting software to submit returns.

Final Thoughts

The UK tax year runs from 6 April to 5 April, with key deadlines for self-assessment, VAT, and tax payments. Submitting your tax return early reduces stress and helps avoid penalties. If you can’t pay on time, contact HMRC to arrange a payment plan.

Understanding these dates ensures you stay compliant, avoid fines, and make tax payments on time.