Key things to remember for the 2022/23 Tax Year

Your businessSmall and Medium Sized BusinessesInsights and newslettersFebruary newsletter 2022

Key points for the new tax year

03/03/2022.
With new HMRC submission dates, as well as an increase in dividend tax and national insurance rates, make sure you are up to date with our key things to remember.

 

  • The dividend tax rate increases to 8.75%, 33.75% and 39.35%.
  • Class 1 National insurance rates increase to 13.25% (employee) and 15.05% (employer).
  • P11Ds reporting employee benefits for the 2021/22 tax year are due for submission to HMRC by 6 July 2022 and the payment of any National Insurance liability due by 22 July 2022.
  • PAYE Settlement Agreements for 2021/22. These are used when you have provided certain benefits to staff and you the employer wish to pay the tax and NI. You need to apply for these agreements also by 6 July 2022. Calculations and liabilities to be submitted and paid by 22 October 2022.
  • Employment Related Securities (ERS) returns. These are required when securities (shares) transactions occur in the year, acquiring shares, transferring shares etc. Returns are due for submission to HMRC by 6 July 2022.

 

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