Stay on top of the key dates that matter for your small business in 2025! From tax deadlines to important planning reminders, this guide will help you stay organised and avoid any last-minute stress. Here's everything you need to mark on your calendar for a successful year.
Navigating the business world as a small business owner or startup founder can sometimes feel like you’re juggling too many things at once. From taxes to payroll to planning for growth, there are so many important deadlines to keep track of. But don't worry, we're here to help. In this guide, we’ll outline the key dates that small businesses need to know for 2025.
If you're self-employed, in a partnership, or receive dividend income as a director or shareholder, it's important to remember the self-assessment deadline on 31 January 2025. By this date, you must file your online tax return, pay any tax due for the 2023/2024 year, and make your first payment on account.
On 1 February, the Alcohol Duty rates are changing. For bars, restaurants, and pubs, the duty on draught products like beer and cider will go down by 1.7%. However, the duty on non-draught products like bottled or canned alcohol will increase in line with Retail Price Index (RPI) inflation. Make sure to adjust your prices and stock accordingly to stay compliant with the new rates.
All England-based businesses with 10 or more full-time employees will be legally obligated to separate their food waste from dry recyclables and general waste.
The National Minimum Wage rate changes from 2025 are as follows:
National Living Wage Rate (21 and over) – £12.21
18–20 Year-Old Rate – £10.00
16-17 Year-Old Rate – £7.55
Apprentice Rate – £7.55
Accommodation Offset £10.66
The tax year ends on 5th April, so make sure your accounts are in order and that any necessary tax planning is completed before this date. This is also a good time to review your financial year-end procedures and make any necessary adjustments.
With the new tax year beginning on 6th April, now is the time to implement any changes from your year-end review. It's also a good opportunity to set new financial goals for your business.
On this date, changes to statutory pay rates for parental, sick, and bereavement leave will take effect. Statutory Sick Pay (SSP) will increase from £116.75 to £118.75 per week for workers who are off sick for more than three days.
Employers need to submit their final Full Payment Summary (FPS) and Employer Payment Summary (EPS) to HMRC by 19 April.
In May, local elections take place, and it's also the deadline for employers to issue P60s. By 31st May, employers must give P60s to all employees for the 2024/25 tax year. A P60 shows how much tax an employee has paid on their earnings between 6 April and 5 April of the tax year.
For companies with a December year-end, corporation tax payments are due by 30th September. Make sure you have this payment scheduled to avoid any late fees or interest charges.
Keeping track of these important dates can help you stay organised and avoid any last-minute panics. Remember, planning is key to running a successful business. By staying informed and proactive, you'll be well-equipped to handle whatever 2025 has in store for your business.
This content is for general information only and not intended as legal, tax, accounting, or financial advice. For advice specific to your business, please consult with professionals who specialise in your industry.
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