October might not feel like the busiest month in the UK tax calendar, but there are several important deadlines and tax planning dates that business owners should have on their radar.
For some, missing an October deadline could mean penalties. For others, October is the perfect time to get organised before the bigger January tax deadline arrives.
Here are the key things UK business owners should be checking this month.
1. 31st October: Paper Self Assessment returns
If you are filing a Self Assessment tax return on paper, the deadline for the 2025/26 tax year is 31st October 2026.
That is much sooner than the online filing deadline, which is 31st January 2027.
Most taxpayers now file online, but if you are still using paper returns, this is a deadline you cannot afford to overlook.
And if you are planning to file online, don’t assume that having until January means you should leave everything until then.
2. Start preparing for the January deadline now
The biggest Self Assessment deadline is still ahead.
For the 2025/26 tax year, online Self Assessment returns must be submitted by 31st January 2027, with any tax owed generally due by the same date.
January may sound a long way away, but for a business owner, there is a lot to do before then.
You may need to:
- Gather business income records
- Review expenses and allowable costs
- Reconcile business bank accounts
- Check your bookkeeping
- Review dividends and other income
- Calculate your expected tax liability
- Set aside enough cash to pay the bill
- Consider whether payments on account will apply
Getting organised now gives you time to identify problems before the deadline becomes urgent.
3. Making Tax Digital should be on your October checklist
There is another important reason to use October to get your tax affairs in order.
Making Tax Digital for Income Tax is already being introduced in stages.
For the 2026/27 tax year, sole traders and landlords with qualifying income above £50,000 need to use Making Tax Digital for Income Tax.
And from 6th April 2027, the requirement will extend to sole traders and landlords with qualifying income above £30,000.
HMRC is urging those affected to start preparing now, giving them time to choose compatible software and get their records organised.
If your business could be affected, October is a good time to check where you stand rather than waiting until the new rules become mandatory.
4. Don’t forget your other tax deadlines
Self Assessment isn’t the only tax deadline your business may have.
Depending on how your business operates, you may also have deadlines relating to:
- VAT
- PAYE
- Corporation Tax
- Construction Industry Scheme
- Making Tax Digital
- Other business-specific tax obligations
Your deadlines will depend on your circumstances, accounting period and how you report and pay your taxes.
HMRC has an online tool that allows businesses and individuals to check their specific tax filing and payment deadlines.
October is a good month for a tax health check
The real value of October isn’t just knowing which deadline falls on which date.
It is about using the month to get ahead.
If your accounts are up to date, you can start getting a clearer picture of your expected tax bill. You can also identify expenses you may have overlooked, check whether your bookkeeping is accurate and start planning your cash flow for January.
And if you are affected by Making Tax Digital, now is the time to start preparing rather than scrambling later.
Don’t wait until January
January deadlines have a habit of arriving faster than expected.
By taking a little time now to review your finances, check your tax obligations and plan for upcoming payments, you can avoid a last-minute rush and make better financial decisions for your business.
Need help getting your business finances and tax organised? Future Cloud can help. Get in touch with our team to discuss your accounting and tax requirements.
Get in touch with our team today to find out how we can support you!
info@future-cloud.co.uk
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