Remember, tax filing deadlines are in March!

TLDR:

Key Points:

• Lower rates of employee Class 1 NICs to cut in dividend allowance for 2024-25 tax year
• Important tax filing deadlines from March to July 2024

In the coming months, there are several key tax filing deadlines that individuals and businesses need to be aware of. One important change to note is the reduction in dividend allowance for the 2024-25 tax year, which could impact those who receive dividends.

One of the significant deadlines is for lower rates of employee Class 1 National Insurance Contributions (NICs) to be implemented. This change could have financial implications for both employees and employers, so it is essential to prepare accordingly.

Additionally, there are various deadlines throughout the tax year that individuals and businesses need to meet to ensure compliance with HMRC regulations. Missing these deadlines can result in penalties and fines, so staying organized and aware of the dates is crucial.

Overall, staying informed about tax filing deadlines and changes to tax regulations is vital for individuals and businesses to avoid any potential issues with HMRC and ensure smooth tax compliance.