The Tax and Return Calendar for SMEs: How to Keep Track
The most frustrating part of running a business is constantly having to keep track of ever-changing dates. Missing a return means needless penalties and late-payment interest. In this article I explain the logic of the tax calendar — so that you don’t have to memorise the dates.
Which returns does an SME usually file?
Although it varies by the type of business, most companies have these on their agenda:
- VAT return — usually in monthly periods
- Withholding and premium service return — a filing that combines withholding and social-security notifications
- Provisional (corporate/income) tax return — in three-month periods
- Annual income or corporate tax return — once a year, at the close of the accounting period
Alongside these, additional filings such as stamp duty and the Ba-Bs forms may also come up.
Why aren’t the dates “fixed”?
The official deadlines shift to the next business day when they fall on a weekend or a public holiday. From time to time the administration also grants extensions. That’s why memorising “the such-and-such day of the month” can be misleading. Drawing up the current, personalised calendar is my job — I remind you period by period.
What happens if you’re late?
A return not filed on time can result in an irregularity penalty, a tax-loss penalty and late-payment interest. Even a small delay can turn into a serious cost when it recurs. The good news: with regular follow-up, almost all of this can be prevented.
How to make tracking easier
- Send your documents in a regular flow — don’t pile them up and leave them to the last day.
- Use digital storage; e-documents already sit in the system.
- Leave the date-tracking to me — I remind, prepare and file on time.
The aim is simple: you focus on your business, I deal with the dates. If you’d like to get your return and tax processes in order, take a look at the Tax Returns service, and you can reach me here.
Note: This article is for general information; for current dates and obligations specific to your business, please get in touch with me.