For many businesses and taxpayers, July is one of the busiest months of the year for tax compliance.
Alongside January, it is one of the two peak months for tax returns and payments, making forward planning essential to avoid unnecessary penalties, interest charges and last-minute pressure.
For businesses across Oxford and Oxfordshire, taking a proactive approach now can help ensure that key deadlines are met and future liabilities are properly budgeted for.
At The MGroup, we work with businesses and individuals throughout the year to help them stay compliant, manage cash flow and plan ahead with confidence.
P11D and P11D(b) deadlines
The month begins with the deadline for submitting P11D and P11D(b) forms to HMRC.
These forms are used to report taxable benefits and expenses provided to employees during the 2025–26 tax year and must usually be submitted by 6 July.
Employers should also ensure that employees receive details of any taxable benefits they have received during the year.
Partner insight
“Employee benefits can often create unexpected tax liabilities. Reviewing these obligations early helps avoid unnecessary pressure and ensures deadlines are met comfortably,” says Jordan Lyne
Class 1A National Insurance
Following the P11D deadline, employers must ensure that any Class 1A National Insurance Contributions (NICs) due on taxable benefits are paid on time.
Key dates are:
- 19 July – if paying by cheque
- 22 July – if paying electronically
Businesses providing benefits such as company cars or private medical insurance may find these liabilities are larger than anticipated, making cash flow planning particularly important.
👉 You may also find our article on Managing Working Capital useful:
PAYE Settlement Agreements
The month also includes the deadline for agreeing and submitting a PAYE Settlement Agreement (PSA) with HMRC, where employers wish to settle the tax and National Insurance due on certain employee benefits and expenses on behalf of their staff.
PSAs are commonly used for staff entertainment benefits or other incentives that would otherwise need to be reported individually and taxed on the employees.
Employers intending to use a PSA for the 2025–26 tax year must generally arrange this with HMRC by 5 July following the end of the tax year.
The associated tax liabilities become due for payment in late October (19th if paying by post or 22nd if paying electronically)
Partner insight
“A PAYE Settlement Agreement can be an effective way to simplify the reporting of certain employee benefits while improving the employee experience. Reviewing eligibility early helps ensure the arrangement is in place before key HMRC deadlines,” says Jordan Lyne partner at The MGroup.”
CIS, PAYE and National Insurance obligations
Businesses operating within the Construction Industry Scheme (CIS) should remember that monthly filing obligations continue throughout July.
This typically includes:
- CIS returns by the 19th of the month
- PAYE payments
- National Insurance liabilities
Missing filing deadlines can result in automatic penalties, even where no tax is payable.
Partner insight
“Many penalties arise not because businesses cannot pay, but because deadlines are overlooked. A well maintained compliance calendar can make a significant difference,” adds Darren Greene partner at The MGroup.
Don’t overlook VAT deadlines
Businesses registered for VAT should also review whether a VAT return or payment falls due during July.
The deadline will depend on the business’s VAT stagger, but reviewing obligations in advance can help prevent late submissions and unnecessary charges.
Maintaining accurate and timely digital records is becoming increasingly important as HMRC continues its digital transformation programme.
👉 Related reading https://www.themgroup.co.uk/ready-for-the-new-digital-tax-rules/
31 July – A key date for Self-Assessment
For many self-employed individuals, landlords and company directors, 31 July represents one of the most significant tax deadlines of the year.
This is the due date for the second Payment on Account towards their 2026–27 Income Tax liability.
Although the payment is based on the previous year’s tax position, taxpayers expecting lower profits may be able to apply to reduce their Payments on Account.
However, caution should be exercised, as interest may be charged if any reduction proves excessive.
👉 Further guidance can be found https://www.themgroup.co.uk/funding-self-assessment-tax-payments/
A good time for a wider tax review
July is also an ideal opportunity to pause and review your wider tax position before the summer holiday period begins.
Areas worth considering include:
✅ Have all tax payments been made on time?
✅ Are accounting records up to date?
✅ Have future tax liabilities been budgeted for?
✅ Are there any upcoming compliance requirements?
✅ Is cash flow sufficient to meet future obligations?
A small amount of planning now can help avoid more significant issues later in the year.
👉 You may also be interested in Summer Health Check
Key July tax deadlines at a glance
Deadline Requirement
6 July P11D and P11D(b) Submissions
19 July CIS returns and PAYE/NIC obligations
19 July Class 1A NIC payment (cheque)
22 July Class 1A NIC payment (electronic)
31 July Self Assessment Payment on Account
How we can help
With so many important deadlines falling within a few weeks of each other, a little forward planning can make all the difference.
At The MGroup, we help businesses and individuals stay compliant, manage cash flow and prepare for upcoming obligations before they become a problem.
A trusted, expert and supportive approach can help ensure your tax affairs remain firmly on track throughout the year.
If you are unsure which deadlines apply to you or your business, we are always happy to help.