SyllabusA_CSV-0.45993511807468 Flashcards
What is PAYE?
Pay As You Earn
Who pays Class 1A NIC?
Employers only
When is Class 1A NIC due?
19th July following the end of the tax year.
What is the due date for PAYE and Class 1 NIC?
19th of each month
What form includes details of employee benefits?
P11D.
When must the P11D form be submitted?
6 July following the end of each tax year.
When is the self-employed individual tax return due online?
31 January after the end of the tax year.
When is the paper return due for self-employed individuals?
31 October after the end of the tax year.
What is the due date for paying self-employed tax liabilities?
31 January after the end of the tax year.
When are payments on account due for self-employed individuals?
31 January in the tax year and 31 July after the tax year.
When is Class 2 NIC payable?
31 January after the end of the tax year
When must companies file their Corporation Tax return?
12 months after the end of the period.
When must small companies pay Corporation Tax?
9 months and one day after the end of each accounting period.
How do large companies pay Corporation Tax?
In 4 instalments: 14th of 7th
Who is responsible for paying Class 1 NIC?
Employees and employers.
What income is PAYE used for?
Employment income.
What expenses are deductible for employment income?
Contributions to occupational pension schemes
When must PAYE be paid by employers?
By the 19th of each month (22nd if electronic).
What is included in the P11D form?
Details of employee benefits and expenses.
Who must submit the P11D form?
Employers.
When must the P11D form be submitted by employers?
By 6th July following the end of the tax year.
When must employers pay Class 1A NIC on benefits?
By 19th July following the end of the tax year.
Who pays Class 1 NIC?
Both employees and employers.
When must employers pay PAYE and Class 1 NICs?
By the 19th of each month (22nd if electronic).
