Becoming a contractor infographic
If you’ve always been a full-time employee, it’s possible that you’ve never given a second thought to how the financial year runs. If you plan to become self-employed, however, your schedule will change dramatically. The start of the financial year is April 6th, and it’s vital that new contractors familiarise themselves with key tax deadlines and dates.
Your tax obligations will ultimately depend on your circumstances. If you’ve simply registered as a sole trader, you’ll need to submit a self-assessment return by the end of October (for paper-based returns) or by the end of January (if you plan to make your submission online). Paper returns may be just a few years from extinction, as HM Revenue and Customs (HMRC) is increasingly encouraging people to make digital submissions. More than 85% of taxpayers made online submissions in 2014 - 2015.
If you’ve registered as a limited company, you’ll have other responsibilities to take into account. You need to make your corporation tax contributions nine months and one day after your company’s financial year ends, so it’s crucial that you get your dates right. HMRC is very strict when it comes to late or failed payments.
To ensure that your tax affairs are in good order right from the very start, the infographic below can help you get organised. The statistics highlight the fact that more people in the UK are becoming self-employed, and that the number of self-assessment submissions being handled by HMRC each year is on the rise. They also show that despite the threat of financial penalties for late submissions, many self-assessments are left until the very last minute – a risky thing to do. The timeline shows the key dates that sole traders and limited company owners need to follow.
See more Construction industry infographics.
--Quantic UK 10:19, 16 March 2015 (UTC)
Featured articles and news
C20 Society; Buildings at Risk List 2025
10 more buildings published with updates on the past decade of buildings featured.
Boiler Upgrade Scheme and certifications consultation
Summary of government consultation, closing 11 June 2025.
Deputy editor of AT, Tim Fraser, discusses the newly formed society with its current chair, Chris Halligan MCIAT.
Barratt Lo-E passivhaus standard homes planned enmasse
With an initial 728 Lo-E homes across two sites and many more planned for the future.
Government urged to uphold Warm Homes commitment
ECA and industry bodies write to Government concerning its 13.2 billion Warm Homes manifesto commitment.
From project managers to rising stars, sustainability pioneers and more.
Places of Worship in Britain and Ireland, 1929-1990. Book review.
The emancipation of women in art.
Call for independent National Grenfell oversight mechanism
MHCLG share findings of Building Safety Inquiry in letter to Secretary of State and Minister for Building Safety.
The Architectural Technology Awards
AT Awards now open for this the sixth decade of CIAT.
50th Golden anniversary ECA Edmundson awards
Deadline for submissions Friday 30 May 2025.
The benefits of precast, off-site foundation systems
Top ten benefits of this notable innovation.
Encouraging individuals to take action saving water at home, work, and in their communities.
Takes a community to support mental health and wellbeing
The why of becoming a Mental Health Instructor explained.
Mental health awareness week 13-18 May
The theme is communities, they can provide a sense of belonging, safety, support in hard times, and a sense purpose.
Mental health support on the rise but workers still struggling
CIOB Understanding Mental Health in the Built Environment 2025 shows.
Design and construction material libraries
Material, sample, product or detail libraries a key component of any architectural design practice.