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UK Finance Dates & Tax Payment Deadlines 2024, Check Changes

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UK Finance Dates & Tax Payment Deadlines 2024, Check Changes

UK Finance Dates & Tax Payment Deadlines 2024, Check Changes. Keeping track of important financial dates and deadlines is crucial for individuals and businesses alike to ensure compliance and avoid penalties. The UK financial year 2023–24 is no exception, with various deadlines for tax payments, energy bills, and other financial obligations. This article provides a comprehensive overview of the UK Finance Dates 2024, including tax payment deadlines and changes to energy price caps.

UK Finance Dates & Tax Payment Deadlines 2024, Check Changes

Taxpayers have until 6th January 2024 and 6th April 2024 to pay their national insurance payments. When do they have to pay their self-assessment taxes? They have until 31st January 2024 and 31st October 2024 to pay their self-assessment taxes.

Understanding UK Finance Dates 2024

The UK financial year 2023–24 encompasses a range of essential dates and deadlines that individuals and businesses must adhere to in order to stay compliant with financial regulations. These dates include deadlines for energy bills, national insurance contributions, self-assessment tax returns, rail fares, fuel duty, national living wages, council tax, childcare payments, water bills, television licenses, air passenger duty, and more.

UK Tax Payment Dates 2024

One of the most critical aspects of financial planning is understanding the deadlines for tax payments. Failure to meet these deadlines can result in penalties and fines. Here are the key UK Tax Payment Dates for 2024:

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Month UK Tax Payment Dates 2024 Name of the Tax Payment
January 1st January, 2024 Energy Bills
6th January, 2024 National Insurance
31st January, 2024 Self Assessment
March 5th March, 2024 Rail Fares
6th March, 2024 Budget
23rd March, 2024 Fuel Duty
April 1st April, 2024 National living wages
Council Tax
Childcare
TV License
Water Bill
Air passenger duty
Fuel Duty
Energy Price Cap
6th April, 2024 National Insurance
Dividend and capital gains tax
ISA Changes
8th April, 2024 State pensions and benefits
May               — Election
June               — Banknotes
July 1st July, 2024 Energy Bills
31st July, 2024 Payment on account deadline
August 1st August, 2024 Alcohol duty
September 1st September, 2024 Childcare
10th September, 2024 State pension
October 1st October, 2024 Energy Bills
16th October, 2024 State pension and benefits
31st October, 2024 Self Assessment
December 17th December, 2024 Election
31st December, 2024 Bus Fares

Energy Price Cap Changes 2024

The energy price cap plays a crucial role in ensuring fair and reasonable energy prices for consumers on default energy tariffs. Periodic adjustments to the energy price cap are made to reflect changes in inflation and underlying costs. For the year 2024, the Energy Price Cap Amount has increased from £1834 to £1928 per year for a typical home using gas and electricity between January 1, 2024, and March 31, 2024. These changes will be reflected in Direct Debit Transfers.

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Energy Price Cap Amount 2023-24

Type Energy Price Cap Amount 2023-24 (2023) Energy Price Cap Amount 2023-24 (2024)
Price Cap Level £1834 £1928
Amount beneficiaries can Pay £1834 £1928

Energy Price Cap Dates 2024

The Energy Price Cap for 2024 is structured into three levels, each with its own set of dates:

  • Level 1: 1st April, 2024 to 30th June, 2024
  • Level 2: 1st July, 2024 to 30th September, 2024
  • Level 3: 1st October, 2024 to 31st December, 2024
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Conclusion

Staying informed about UK Finance Dates 2024, including tax payment deadlines and energy price cap changes, is essential for financial planning and compliance. By adhering to these deadlines and understanding regulatory changes, individuals and businesses can avoid penalties and ensure smooth financial operations throughout the year.

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