The purpose of a Tax Period Calendar is to accurately identify what tax week or month your business is currently operating in. How does the tax year differ from a normal calendar year? The UK tax year runs from 6 April to 5 April the following year and is broken up into tax periods. The tax month will always start on the 6th and run to the following 5th. For example, tax month 1 starts on the 6th of April and ends on the 5th of May.
You can also use this Financial Calendar for general planning such as monthly or yearly financial planning, tax year planning, as a tax payment calendar, a payroll calendar as well as other financial purposes.
How this will help you
A Tax Period Calendar is useful for tracking when you are due to pay your employees. Several factors of pay, tax for instance, can change the amounts depending on which tax month or week they fall into. HMRC and other financial organisations tend to make decisions using tax periods as a calendar. So this enables you to
understand when HMRC have requested you to action a particular task during a certain week or month, or helps you inform them of the date a change may take effect. It is also useful in detailing errors or periods of concern. Commonly used for your employee queries or queries from your accounts department with the Tax Office.
How it works
Press ctrl + f on your keyboard. You will notice a small “find” box will pop up. Type the date you are looking for into this box. For example, if you want to know the payroll week for 15 January, type in “15/01”. This will
immediately highlight the correct date. To the left of that date is the Tax Month it falls in and to the right is the Tax Week.
Contact MP Payroll Solutions if you require any assistance.
Click the Download button below and we will email you your print ready 2019/2020 Tax Period Calendar.