As we are now halfway through 2023, we thought that it would be helpful to share a few upcoming Tax updates and deadlines for this July:  

4th July – Deadline by which employees must make good PAYE income tax arising in respect of employment related securities before a penal s222 charge applies. 

Not talked a lot about s222, so what’s a s222 charge? 

The s222 charge is a tax charge on the PAYE tax the employer was unable to deduct, but is required to pay to HMRC, as explained above. This rationale for the charge in typical contexts, is that the employee has had the benefit of receiving their income gross, without the deduction of tax by their employer.

6th July – Filing deadline date for Expenses and Benefits forms P11D(b) and P11D to reach HMRC more information can be found here.

19th July – Deadline for payment of PAYE and NICs to HMRC’s Accounts Office by non-electronic methods (post)

22nd July – Deadline for payment of PAYE and NICs to HMRC’s Accounts Office online.

31st July – PAYE Settlement Agreement calculation deadline (specified in PAYE Settlement Agreement), second payment on account (POA) due for individuals, trusts, and partnerships.

Deadline for making ‘scheme pays’ elections (where eligible) to request a pension scheme pays the annual allowance tax charge for the 2021/22 tax year.

We hope that you found these updates helpful. 

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