As the director or shareholder of a limited company, a new year means a new set of important business dates for your calendar. In this article, we highlight the key dates for businesses in 2024. From important filing dates to big business events, we’ve got you covered. Let’s jump straight in.
6 January – National Insurance rate cut
A key National Insurance rate cut takes effect on this day, with the main rate of Class 1 employee NICs going from 12% down to 10%.
31 January – Self Assessment online filing deadline for 2022/23 tax return
If you need to file a Self Assessment tax return, this is your deadline for submitting it online (the paper submission deadline has already passed). You can file your tax return any time between now and the deadline. We recommend doing it as soon as possible, as penalties are imposed if you are late.
Whilst filing a Self Assessment tax return is not always required as a director/shareholder, it can be necessary if you have taken money out of your company as a dividend, or through a director’s loan.
31 January – Deadline for paying Self Assessment tax bill for 2022/23
If you are filing a Self Assessment tax return on this day, this is also the deadline for paying any tax that you owe for the 2022/23 tax year. If you are required to make ‘payments on accounts’, you will also pay the first instalment toward your 2023/24 tax bill on this date. The second instalment should be paid by 31 July.
6 March – Spring Budget
The Spring Budget 2024 takes place on 6 March, whereby the Chancellor (currently Jeremy Hunt) delivers the Government’s plan for the economy.
1 April – New National Minimum Wage and Living Wage
The changes are as follows:
- Over 23s National Living Wage increases from £10.42 per hour to £11.44
- 21-22 National Living Wage increases from £10.18 per hour to £11.44
- 18-20 National Minimum Wage increases from £7.49 per hour to £8.60
- Under 18s National Minimum Wage (and Apprentice rate) increases from £5.28 per hour to £6.40
5 April – The end of the 2023/24 tax year
The UK tax year (also known as the fiscal year) lasts for 12 months, running from 6 April one year to 5 April the next.
The tax year is relevant to all businesses, including limited companies. However, a company’s own financial year is generally more significant because this is the period that must be reported in the Company Tax Return.
6 April – The start of the 2024/25 tax year
The beginning of a new tax year generally sees the introduction of previously announced changes to economic thresholds. Our Business tax guide for 2024-25 outlines the key information you need to know.
6 April – State pension increase
The full state pension jumps from £203.85 per week to £221.20 per week.
6 April – New dividend tax allowance
The dividend tax-free allowance (the amount shareholders can receive in dividends before tax must be paid on them) is reduced from £1,000 to £500. However, the tax rates and thresholds applicable to dividend income will not change.
6 April – Changes to National Insurance
No one is required to pay Class 2 National Insurance contributions (NIC) on income generated from this date, but you can continue to make voluntary Class 2 NIC if your self-employed profits are below £6,725.
On top of this, the main rate of Class 4 NICs for the self-employed is going down from 9% to 6%. The main rate of employee Class 1 National Insurance will also be cut from 10% to 8%
31 May – P60 issuance deadline for the previous 2023/24 tax year
If your company employs other people, or you are an employee of the company yourself, this is the deadline for issuing the P60 – the document that provides employees with information on the tax that they have paid on their salary.
31 July – Deadline for Self Assessment second payment on account
If you file a Self Assessment tax return and are using ‘payments on accounts’ to pay the tax you owe, this is the payment deadline for the second instalment of advance payments toward your 2023/24 tax bill.
5 October – Deadline for registering for Self Assessment
You may need to register for Self Assessment by this date if you have untaxed income to declare from the 2023/24 tax year. This may include dividends from shares, expenses, a director’s loan, rental income, or earnings from self-employment.
31 October – Self Assessment deadline for filing 2023/24 tax return on paper
Anyone who needs to prepare a Self Assessment tax return for 2023/24 and chooses to use paper filing must submit it by this date. Paper filing is becoming increasingly uncommon, with just 3% of people using this method. There are many benefits to filing your tax return online, one of which is the extended deadline (the online Self Assessment deadline for 2023/24 is 31 January 2025).
November (exact date TBC) – Autumn Statement
The Autumn Statement, often considered a mini-budget, is where the Chancellor gives an update on the Government’s plans for the economy. There is currently no set date, but it is expected to take place in November.
30 December – Self Assessment deadline for 2023/24 tax return (if HMRC are to collect the tax you owe from wages and pension)
If you would like HMRC to automatically collect the tax you owe from your wages and your pension, this is the online filing deadline to file your Self Assessment tax return. This option is not available to everyone, so find out if you are eligible.
Those are the key fixed business dates but what about the ones that depend on your own company’s circumstances? Let’s take a look at these now.
Companies House deadlines
All companies must file an annual confirmation statement and annual accounts even if they’re not trading (dormant companies can file an abbreviated set of accounts known as dormant company accounts).
Whilst there’s no financial penalty for failing to file your confirmation statement on time, it can result in your company being struck off. However, in the case of annual accounts, strict penalties are imposed for late delivery.
The due date for each of these is connected to the incorporation date:
| Confirmation statement filing deadline | 12 months after the date of incorporation or previous confirmation statement |
| Annual accounts deadline | A company’s first accounts are due 21 months after the date of incorporation. The following accounts are due 9 months after the end of the company’s financial year. |
If you used Rapid Formations to register your company, you can check your confirmation statement and annual account deadlines on the Online Client Portal. Simply follow the steps below:
- Log in
- Select ‘My Companies’
- Click on your company name
- You will be able to view the deadlines on this page
See here for further guidance on the confirmation statement and annual accounts:
- An introduction to the annual confirmation statement
- Our Confirmation Statement Service (available from £59.99)
- Annual accounts and statutory accounts
- Our Dormant Company Accounts Service (available from £49.99)
Corporation Tax and Company Tax Return deadlines
Corporation Tax is the tax that limited companies pay on their profits. The Company Tax Return, which must be delivered to HMRC, is used to calculate how much Corporation Tax you must pay.
Failing to deliver your Company Tax Return on time will result in a penalty.
| Registering for Corporation Tax deadline | Within 3 months of any business activity starting |
| Paying Corporation Tax bill deadline | 9 months and 1 day after the end of your accounting period for Corporation Tax |
| Filing your Company Tax Return deadline | 12 months after the end of the accounting period for Corporation Tax |
See here for further guidance on Corporation Tax:
VAT deadlines
If a company’s taxable turnover for the previous 12 months exceeds £90,000 (or is expected to exceed this amount in the next 30 days), you must register for VAT. As you would expect, there are deadlines connected to this. What’s more, HMRC may penalise you if you fail to register for VAT on time.
| Registering for VAT deadline | Within 30 days of becoming aware that you will surpass the £90,000 VAT threshold in the coming month |
| Registering for VAT deadline if the threshold was exceeded in the previous 12 months | Within 30 days after the end of the month in which you exceeded it |
| Filing a VAT return deadline | 1 calendar month and 7 days after the end of the accounting period |
| Paying VAT owed deadline | 1 calendar month and 7 days after the end of the accounting period |
See here for further guidance on VAT:
2024: Business event highlights
Now that we’ve covered the various deadlines that you need to consider, let’s focus on some of the business events that are currently scheduled to take place in 2024.
27-28 February: eCom Business Live (London)
Ideal for retail and digital entrepreneurs, eCom Business Live brings over 100 industry-leading speakers to help new business owners boost their sales and take their companies to the next level. You’ll hear from global names like Shopify, Google, and Forbes, and participate in networking sessions. Find out more
5 March: Edinburgh Business Show 2024 (Edinburgh)
Local businesses of all sizes get together at the annual Edinburgh Business Show for valuable 1-2-1 networking, workshops, and seminars. Learn about how to win more sales, leadership, LinkedIn marketing, and more. Find out more
23-24 April: SME XPO (London)
Join over 4,000 SME founders and owners and over 100 best-in-class suppliers at the UK’s leading business exhibition and conference. Learn from well-known and ambitious keynote speakers, meet investors, take part in workshops, and attend speed networking to build valuable business relationships. Find out more
8 May: Bristol Business Expo (Bristol)
Enjoy the opportunity to network with hundreds of entrepreneurs at Bristol’s largest business show. The exhibition is packed with local businesses and includes free seminars and workshops where you can meet and learn from like-minded people, as well as keynote speeches and networking sessions. Find out more
25-26 June: eTail (London)
eTail is aimed at online businesses, connecting them with Europe’s most successful retail innovators. This industry-leading conference features educational speeches from powerful brands like LEGO, AutoTrader, and Decathlon Group, and includes curated networking sessions where you can make new contacts and develop your professional relationships. Find out more
20 September: Cumbria Business Expo (Carlisle)
This diverse exhibition brings business leaders from all over the UK, allowing them to exchange ideas, make valuable connections, and generate new leads – ideal for business owners, start-ups, and marketers. Find out more
16 October: Devon Business Show (Plymouth)
The Devon Business Show brings you interactive exhibitions, excellent networking opportunities, and access to the latest strategies and trends to help local business owners connect and grow their companies. You can also expect to hear from several headline partners. Find out more
13-14 November: The Business Show (London)
Suitable for entrepreneurs looking to start, as well as SMEs looking to grow, The Business Show is the world’s largest business show that has been running for over 20 years. It aims to educate and encourage new business owners with industry-leading products and services, seminars from exceptional keynote speakers, and inspiring masterclasses. Find out more
Interested in more? See here for a comprehensive list of 2024 business events.
2024 UK bank holidays
And finally, here are the 2024 public holiday dates for England and Wales, Scotland, and Northern Ireland.
England and Wales
| 1 January | New Year’s Day |
| 29 March | Good Friday |
| 1 April | Easter Monday |
| 6 May | Early May bank holiday |
| 27 May | Spring bank holiday |
| 26 August | Summer bank holiday |
| 25 December | Christmas Day |
| 26 December | Boxing Day |
Scotland
| 1 January | New Year’s Day |
| 2 January | 2 January |
| 29 March | Good Friday |
| 6 May | Early May bank holiday |
| 27 May | Spring bank holiday |
| 5 August | Summer bank holiday |
| 2 December | St Andrew’s Day |
| 25 December | Christmas Day |
| 26 December | Boxing Day |
Northern Ireland
| 1 January | New Year’s Day |
| 18 March | St Patrick’s Day |
| 29 March | Good Friday |
| 1 April | Easter Monday |
| 6 May | Early May bank holiday |
| 27 May | Spring bank holiday |
| 12 July | Battle of the Boyne |
| 26 August | Summer bank holiday |
| 25 December | Christmas Day |
| 26 December | Boxing Day |
So there you have it
Those are the key dates in 2024 for your business. We hope you find this article useful and that you have a productive and successful year. Please leave a comment if you have any questions and we’ll get back to you.
