Key dates for small businesses in 2025

In October 2024, Labour's first Budget announced a raft of changes that will affect small business owners. A lot of these changes come into place this year, so it's time to get the diary out and make sure you have all the key dates noted down.

As well as the measures announced in the Budget, Labour plans to support small businesses this year with two new initiatives which are both expected to launch in 2025. The Business Growth Service, designed to improve small businesses' access to Government advice, and the Small Business Strategy Command Paper, setting out the Government's vision for supporting SMEs.

Here, we round-up all the dates that will affect your business in 2025, so you can start planning ahead.

Q1 (January-March)

31 January - Deadline for Self Assessment tax return 2023-24

• If you're a sole trader, you have until midnight to file your Self Assessment tax return for the tax year 2023-24. You must also pay any tax owed by the same date.

1 February - Alcohol Duty rates changes

• Alcohol Duty rates for draught products will be reduced by 1.7%; duty for non-draught products to increase in line with Retail Price Index inflation.

10-16 February - National Apprenticeship Week

• A week-long celebration of apprentices and the positive impact they have on business and the economy. If you think apprentices could help your business, find out more here.

14 February - Valentine's Day

• If your business sells gifts, make sure you're well stocked and ready to ship ahead of time. You could even get your customers in the mood with an eye-catching marketing campaign.

7 March - Employee Appreciation Day

• Take time to do something special for your employees today to show them how much you appreciate their hard work. A valued employee is a productive employee, after all.

30 March - Mother's Day

• A key gifting day for small business calendars, particularly if you work in the retail or hospitality industries.

Q2 (April-May)

From April

• Employment Allowance increases from £5,000 to £10,500
• Employer's National Insurance Contributions (NICs) increase by 1.2% to 15%. At the same time, the threshold at which employers must start paying NICs reduces from £9,100 to £5,000 per employee.
• National Minimum Wage rates increase for all, including the National Living Wage, which rises by 6.7% to £12.21 an hour for people aged 21 and over.
• Business rate relief reduces from 75% to 40% for the retail, leisure and hospitality industries, up to a cap of £11,000 per business.
• Statutory Sick Pay increases to £118.75 per week (up from £116.75).

April (expected) - Neonatal care pay and leave introduced

• While the exact date is yet unknown the Neonatal Care (Pay and Leave) Act will come into force in 2025. Eligible parents will be entitled to up to 12 weeks' paid leave.

6 April - Start of the new tax year for 2025-26

6 April - Business Asset Disposal Relief increases

• Business Asset Disposal Relief increases from 10% to 14%. The rate will increase further, to 18%, next April.

6 April - Statutory family-related pay increases

• The amount of statutory maternity, paternity, adoption, shared parental leave and parental bereavement pay increases to £187.18 per week (up from £184.30).

18-21 April - Easter weekend

5 May - Early May bank holiday

26 May - Spring bank holiday

31 May - Deadline for issuing P60 forms

• Latest date for all SMEs to issue their employees with P60s, either on paper or electronically.

Q3 (July-September)

6 July - P11D deadline

• P11D and P11D(b) forms for the tax year 2024-25 must be submitted electronically to HMRC. You must also provide your employees with a copy of any information that relates to them by the same date.

19 July - Class 1A NICs payment deadline

• Employers must pay any NICs on employee benefits from the 2024-25 tax year by 19 July if paid by post, or 22 July if paid electronically.

31 July - Deadline for second Payment on Account for the 2023-24 tax year

• Sole traders must pay any outstanding tax by midnight.

25 August - Summer bank holiday

Date TBC - British Business Bank's Business Finance Week

• A week of free online and in-person workshops and events to help small business owners understand what finance is available to meet their needs.
  
  Keep an eye on their website for details as dates vary; last year's events took place the last week of September, while other years they have been later.

Q4 (October-December)

October (date TBC) - Autumn Budget

5 October - Deadline for notifying HMRC of new partnerships

• If you started a partnership or became a partner in the 2024-25 tax year, you must notify HMRC by today to avoid penalties.

28 November - Black Friday

• The busiest online shopping day of the year, followed by Cyber Monday on 1 December.

6 December (date TBC) - Small Business Saturday

• Encouraging everyone to shop small and support local in the run-up to Christmas, this annual celebration of small businesses is a great event to get involved in. For small business support, visit their website.

If you need finance to help your small business in 2025, you can apply for a loan or line of credit in minutes. Check if you're eligible today.

31/12/24: While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice.

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