Key Accounting Dates for UK Businesses in February 2025

Staying on top of key accounting dates is crucial for any business in the UK. Missing deadlines can result in penalties, interest, or unnecessary stress. In February 2025, several important tax and filing deadlines are fast approaching. From Corporation Tax payments to PAYE and CIS submissions, it’s essential to be aware of these dates to ensure your business remains compliant with HMRC. In this article, we’ll outline the key accounting deadlines in February 2025 and offer guidance on how to prepare for them.

01/02/2025 – Corporation Tax payment: 30 April 2024 year ends

If your company’s financial year ends on 30 April 2024, the deadline for paying your corporation tax is 01 February 2025. Corporation tax payments are due 9 months and 1 day after the end of your accounting period, so it’s important to ensure that the payment is made on time to avoid penalties and interest. Failure to meet the deadline can result in significant late payment fees, so be sure to check your company’s financial records and make the necessary arrangements well in advance to ensure timely payment. If you need help calculating your corporation tax or managing the payment process, our expert accountants at Accounting Wise can assist you in staying compliant.

02/02/2025 – P46(car) electronic or paper: quarter to 5 January 2025

By 02 February 2025, employers must submit their P46(car) forms for the quarter ending 5 January 2025. This form is used to report any company car benefits provided to employees, ensuring that the correct tax is paid. If you provided company cars to employees during the quarter, you’ll need to report details such as the car’s CO2 emissions and the fuel used. The P46(car) form can be submitted either electronically through your payroll software or via paper submission to HMRC. It’s essential to ensure that this form is filed on time to avoid any penalties or inaccuracies in employee tax reporting. If you need assistance in completing this form or understanding the regulations, our team at Accounting Wise is here to help.

05/02/2025 – Employment intermediaries: report for the quarter to 5 January 2025

By 05 February 2025, employment intermediaries must submit their quarterly reports to HMRC for the period ending 5 January 2025. Employment intermediaries, including agencies that supply workers to clients, are required to report the details of workers they have placed, along with the tax and National Insurance contributions that apply. This is crucial for ensuring proper compliance with the IR35 rules and other tax obligations. Failure to submit the report on time could lead to penalties, so it’s important to ensure all details are accurately reported. If you’re an employment intermediary and need help with your reporting requirements, our experienced team at Accounting Wise can guide you through the process.

05/02/2025 – Employment intermediaries: remove a report for the quarter to 5 October 2024

By 05 February 2025, employment intermediaries must remove any incorrect reports submitted for the quarter ending 5 October 2024. If an error was made in the original submission, such as incorrect worker details or tax contributions, the intermediary is required to submit a correction. This is crucial to ensure that all information provided to HMRC is accurate and in compliance with the regulations. Failure to correct errors or remove incorrect reports could result in penalties or further compliance issues. If you need assistance in amending reports or ensuring accuracy in your submissions, our team at Accounting Wise is ready to help.

07/02/2025 – VAT return submission and payment (online): month-end or quarter 31 December 2024

By 07 February 2025, businesses with a VAT accounting period ending on 31 December 2024 must submit their VAT return and make any outstanding payments. This applies to both monthly and quarterly VAT filers. The VAT return must be filed online, detailing the sales, purchases, and VAT due or reclaimable during the period. Any payments for the VAT owed must also be made by this date to avoid penalties or interest charges. Ensure your records are up to date and the return is filed accurately and on time to remain compliant with HMRC. If you need assistance with your VAT return or have questions about your payment, Accounting Wise is here to support you.

14/02/2025 – National Insurance: Form CA72A (deferral) for the employed

By 14 February 2025, employers must submit Form CA72A to HMRC if they are applying for a deferral of National Insurance contributions for employees. This form is used to request a deferral of the NIC payments for the employed, typically in cases where an employer is facing financial difficulty or has other qualifying circumstances. The form must be submitted within the specified timeframe to ensure that deferral is granted and avoid potential issues with non-payment. If you are unsure about the deferral process or need assistance in completing Form CA72A, our team at Accounting Wise is here to help you navigate the requirements efficiently.

19/02/2025 – PAYE, NIC and CIS payment (postal): month-end 5 February 2025

By 19 February 2025, employers must ensure that PAYE, National Insurance Contributions (NIC), and Construction Industry Scheme (CIS) payments for the month-end 5 February 2025 are made via postal payment. If you’re submitting payments by post, be aware of the time it takes for the postal system to process, as payments must be received by HMRC by the deadline to avoid late payment penalties. It’s essential to check that all amounts are correct, including tax deductions and NIC contributions for employees, as well as CIS deductions if applicable. To avoid last-minute complications, ensure your payment is posted well in advance of the due date. If you need help with the calculations or ensuring timely payment, the experts at Accounting Wise are here to assist.