Key Accounting Dates – May 2026

/Published:23rd April 2026/inNews, Tax
Accounting Wise - Key Accounting Dates - May 2026

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May is one of the busiest months in the UK accounting calendar. For business owners, directors, employers, and contractors, the month brings together a wide range of overlapping obligations spanning Corporation Tax, VAT, PAYE, the Construction Industry Scheme, company car reporting, and employment intermediary returns. Missing any one of these deadlines can result in automatic penalties and unnecessary interest charges from HMRC.

This guide sets out every key accounting date in May 2026, explains what each deadline means, who it applies to, and what action is required. Whether you run a limited company, operate as an employer, or work within the construction sector, use this as your practical month-by-month compliance reference.

Summary: Key Accounting Dates in May 2026

The table below provides a quick-reference overview of every major deadline falling in May 2026. Full explanations for each obligation follow in the sections below.

  • 1 May – Corporation Tax payment due: companies with a 31 July 2025 year end
  • 1 May – New VAT fuel scale charge rates apply from the next VAT accounting period beginning on or after this date
  • 3 May – P46(Car) paper return due: quarter ending 5 April 2026
  • 5 May – Employment intermediaries: report due for the quarter ending 5 April 2026
  • 5 May – Employment intermediaries: deadline to remove a report for the quarter ending 5 January 2026
  • 7 May – VAT return payment deadline: monthly or quarterly period ending 31 March 2026
  • 7 May – VAT return online submission deadline: monthly or quarterly period ending 31 March 2026
  • 19 May – PAYE, NIC, and CIS payment by post: tax month ending 5 May 2026
  • 19 May – CIS monthly return due: payments made to subcontractors in the month to 5 May 2026
  • 22 May – PAYE, NIC, and CIS payment electronically: tax month ending 5 May 2026
  • 31 May – Corporation Tax return (CT600) due: companies with a 31 May 2025 year end
  • 31 May – VAT annual accounting return and balancing payment due: 31 March stagger
  • 31 May – P60s must be issued to all employees

1 May: Corporation Tax Payment for 31 July 2025 Year Ends

Limited companies with an accounting period ending on 31 July 2025 must pay their Corporation Tax liability to HMRC by 1 May 2026. This follows the standard rule that Corporation Tax is due nine months and one day after the end of the accounting period.

It is important to note that this is a payment deadline, not a filing deadline. The corresponding CT600 Corporation Tax return is due twelve months after the year end – in this case, 31 July 2026. Both deadlines are separate and each carries its own penalties for non-compliance.

If you are unsure of your company’s Corporation Tax liability, your accountant should have prepared an estimate in advance of this date based on your draft accounts and tax computations. Late payment attracts interest from HMRC at the current late payment rate, which stood at 7.75% from January 2026.

From 1 April 2026, HMRC also doubled the fixed penalties for late CT600 filings, rising from £100 to £200 for a return that is one day late. If your filing deadline falls on or after 1 April 2026, be aware that the cost of missing it is now significantly higher than in previous years.

Who this applies to: UK limited companies with a 31 July 2025 accounting period end date.

Further guidance is available from GOV.UK: Pay your Corporation Tax bill.

1 May: New VAT Fuel Scale Charge Rates Come into Effect

From 1 May 2026, updated VAT road fuel scale charge rates apply. These rates must be used from the start of the first VAT accounting period that begins on or after 1 May 2026. If your VAT quarter began before this date, you continue to use the previous rates for that period and switch to the new ones from your next period onwards.

What is the VAT fuel scale charge?

The VAT road fuel scale charge is a flat-rate mechanism that allows VAT-registered businesses to recover all of the VAT incurred on fuel purchases for business vehicles, including those that are also used privately. Rather than keeping detailed mileage logs to apportion business and private use, a business pays a fixed output tax charge to HMRC based on the vehicle’s CO2 emissions and the length of the VAT accounting period.

HMRC publishes updated scale charge tables annually. The rates are set according to CO2 emissions bands and cover monthly, quarterly, and annual VAT accounting periods. Businesses that do not wish to use the scale charge can instead choose not to recover any VAT on fuel, or maintain detailed records of business versus private mileage and recover only the business proportion.

Who this applies to: Any VAT-registered business that provides fuel for vehicles used for both business and private purposes.

Check the latest rates at GOV.UK: Road fuel scale charge tables for VAT.

3 May: P46(Car) Paper Return – Quarter Ending 5 April 2026

Employers who have not reported company car changes through their payroll software must submit a paper P46(Car) return by 3 May 2026 for changes that took place in the quarter ending 5 April 2026.

What does the P46(Car) cover?

The P46(Car) process – now largely handled digitally through payroll software or HMRC’s PAYE Online service – is used to notify HMRC whenever there is a change to a company car arrangement. Reportable events include:

  • Providing an employee with a company car for the first time
  • Replacing an employee’s existing company car with a different vehicle
  • Withdrawing a company car from an employee
  • Providing an additional car to an employee who already has one

Reporting these changes promptly ensures that HMRC can update the employee’s tax code correctly, so the right amount of car benefit tax is collected through payroll throughout the year rather than in a lump sum at year end.

Note that from 6 April 2026, payrolling of benefits in kind becomes mandatory for all employers. Businesses that have not yet set up payrolling of company car benefits should take urgent advice, as this represents a significant change to how benefits are reported and taxed.

Who this applies to: Employers who provide company cars and have not already reported changes digitally through payroll software.

HMRC guidance is available at GOV.UK: Tell HMRC about a car provided to an employee for private use.

5 May: Employment Intermediaries Reports

Two separate deadlines fall on 5 May 2026 for employment intermediaries:

New report due: quarter ending 5 April 2026

Employment intermediaries that supplied workers to clients during the quarter ending 5 April 2026 must submit their quarterly report to HMRC by 5 May 2026. This report covers payments made to workers where PAYE was not operated by the intermediary.

Removal deadline: quarter ending 5 January 2026

If an employment intermediary needs to remove or amend a report submitted for the quarter ending 5 January 2026, the deadline to do so is also 5 May 2026.

Who are employment intermediaries?

An employment intermediary is any business that supplies workers to a third-party client under a contract. This includes recruitment agencies, umbrella companies, managed service providers, and consulting businesses that place more than one worker with a client. The reporting requirement was introduced to prevent workers and businesses from using intermediary arrangements to avoid PAYE and National Insurance contributions.

If you are an employment intermediary and you fail to operate PAYE on payments to workers, you must report those payments to HMRC quarterly using the HMRC template. Late submission attracts automatic penalties based on the number of offences recorded within a twelve-month period.

Who this applies to: Agencies, umbrella companies, and other intermediaries that supply workers to clients and do not operate PAYE on all payments.

HMRC guidance can be found at GOV.UK: Send employment intermediaries reports to HMRC.

7 May: VAT Return Submission and Payment – Period Ending 31 March 2026

VAT-registered businesses with a VAT accounting period ending on 31 March 2026 must submit their VAT return online and pay any VAT owed to HMRC by 7 May 2026.

This deadline applies to businesses on monthly VAT returns with a March period end, and to businesses on quarterly VAT returns whose stagger places their quarter end at 31 March. It is one of the most common deadlines of the year given the prevalence of the standard January, April, July, October and February, May, August, November quarterly patterns alongside the March quarter-end stagger.

Points to remember for VAT returns

  • All VAT-registered businesses must file under Making Tax Digital for VAT, using compatible software to keep digital records and submit returns directly to HMRC
  • Payment must also clear HMRC’s account by 7 May – allow sufficient time for bank transfers to process
  • Businesses on Direct Debit do not need to arrange payment separately, but the Direct Debit must be set up in advance through HMRC’s VAT online service
  • Late submission and late payment each attract separate penalties under the penalty regime that came into force in January 2023

Who this applies to: VAT-registered businesses with a monthly or quarterly VAT return period ending 31 March 2026.

Submit your return via GOV.UK: Send a VAT Return.

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2026 Key Accounting Dates

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19 May: PAYE, NIC, and CIS Payment by Post

Employers paying their PAYE income tax, employee and employer National Insurance contributions, and any Construction Industry Scheme deductions by cheque or bank transfer (non-electronic) must ensure their payment reaches HMRC by 19 May 2026. This covers the tax month ending 5 May 2026.

HMRC considers a payment made on the date it is received, not the date it is sent. If you are paying by post, allow adequate time for your payment to arrive. Missed postal payments attract late payment interest.

The vast majority of businesses now pay electronically, in which case the extended deadline of 22 May applies instead (see below).

Who this applies to: Employers paying PAYE, NIC, and CIS deductions by post or non-electronic means.

19 May: CIS Monthly Return – Month Ending 5 May 2026

Contractors registered under the Construction Industry Scheme must file their CIS monthly return (form CIS300) for the month ending 5 May 2026 by 19 May 2026. This return reports all payments made to subcontractors during the period and the deductions applied.

Key points for CIS returns

  • Deductions are made at 20% for registered subcontractors and 30% for those who are unregistered or whose status cannot be verified with HMRC
  • Gross payment status subcontractors receive payment in full – but they must still be included in the return
  • A nil return must be submitted if no payments were made to subcontractors during the period
  • Late filing attracts an automatic £100 penalty, rising with each further month the return remains outstanding
  • CIS deductions made from a subcontractor’s payments can be offset against that subcontractor’s own tax liabilities, or refunded through their Self Assessment or Corporation Tax return

The CIS return can be filed online through HMRC’s CIS online service or through compatible payroll or accounting software.

Who this applies to: Contractors operating under the Construction Industry Scheme who have made payments to subcontractors in the month ending 5 May 2026.

Further guidance is available at GOV.UK: What is the Construction Industry Scheme?

22 May: PAYE, NIC, and CIS Payment Electronically

Employers who pay their PAYE, NIC, and CIS liabilities by electronic transfer – including bank transfer, Faster Payments, or CHAPS – have until 22 May 2026 to ensure cleared funds reach HMRC’s account. This covers the tax month ending 5 May 2026.

If 22 May falls on a weekend or bank holiday, the payment must arrive on the last working day before this date. Always check HMRC’s guidance if the deadline falls near a public holiday to avoid a late payment charge.

Setting up a recurring Direct Debit through HMRC’s PAYE Online service can remove the risk of missing this deadline. HMRC calculates the amount due and collects it automatically on the correct date.

Who this applies to: All employers paying PAYE, NIC, and CIS electronically for the tax month ending 5 May 2026.

31 May: Corporation Tax Return (CT600) – 31 May 2025 Year Ends

Limited companies with an accounting period ending on 31 May 2025 must file their CT600 Corporation Tax return with HMRC by 31 May 2026. This is the standard twelve-month deadline for filing the return after the end of the accounting period.

Note that if your Corporation Tax payment was due earlier (nine months and one day after the year end), late payment interest will already be accruing if payment has not been made. Do not confuse the payment deadline with the filing deadline – they are separate obligations.

From 1 April 2026, the fixed penalty for filing a CT600 one day late rose to £200. A return that is more than three months late attracts a further fixed penalty, and a return that is six or more months late may result in HMRC issuing a tax determination based on its own estimate of the liability, with a 10% tax-geared penalty added on top.

Who this applies to: UK limited companies with an accounting period ending 31 May 2025.

File your return via GOV.UK: File your accounts and Company Tax Return.

31 May: VAT Annual Accounting Scheme – 31 March Stagger Return and Balancing Payment

Businesses on the VAT Annual Accounting Scheme with an accounting year ending on 31 March must submit their annual VAT return and pay any balancing payment by 31 May 2026.

How the VAT Annual Accounting Scheme works

Under the Annual Accounting Scheme, businesses make advance VAT payments to HMRC throughout the year – either nine monthly payments or three quarterly payments – based on an estimate of their annual VAT liability. At the end of the year, a single annual return is submitted and any remaining balance is paid, or a refund is claimed if advance payments exceeded the actual liability.

The scheme suits businesses with relatively predictable VAT liabilities and reduces the administrative burden of quarterly returns. However, businesses must ensure their advance payments are set at a realistic level to avoid a large balancing payment at year end.

Who this applies to: Businesses registered for the VAT Annual Accounting Scheme whose accounting year ends on 31 March.

HMRC guidance is at GOV.UK: VAT Annual Accounting Scheme.

31 May: P60s Must Be Issued to All Employees

Employers must provide a P60 to every employee who was on the payroll on 5 April 2026 (the end of the 2025/26 tax year) by 31 May 2026. This is a statutory obligation under PAYE regulations and applies to all employees, including part-time, casual, and zero-hours workers who remain employed on that date.

What is a P60?

A P60 is a year-end summary of an employee’s total pay and deductions for the tax year. It confirms:

  • Total gross earnings for the year
  • Total income tax deducted under PAYE
  • Total employee National Insurance contributions
  • Student loan deductions, where applicable
  • The employee’s tax code at the year end

Employees need their P60 to complete Self Assessment tax returns, claim tax refunds from HMRC, apply for mortgages and loans, and verify their National Insurance record. P60s can be issued in paper or electronic format, provided the employee has agreed to receive them digitally.

Employees who left employment before 5 April 2026 receive a P45 at the point they leave – they are not entitled to a P60 for that year.

There is no statutory penalty for failing to issue P60s on time, but HMRC can take action against employers who persistently fail to meet their obligations, and employees may be unable to complete important financial applications without the document.

Who this applies to: All UK employers – including sole traders with employees – for every employee on the payroll on 5 April 2026.

Penalties for Missing Deadlines: A Quick Reference

Missing HMRC deadlines rarely goes without consequence. Here is a summary of the penalty framework relevant to May 2026 obligations:

  • Corporation Tax (late payment): Interest charged daily at HMRC’s late payment rate from the day after the payment deadline
  • Corporation Tax (late filing, from 1 April 2026): £200 fixed penalty for a return one day late; further penalties for returns that remain outstanding beyond three and six months
  • VAT (late submission): Penalty points system – accumulating points lead to financial penalties once a threshold is reached
  • VAT (late payment): Interest on unpaid VAT plus a late payment penalty based on how long the debt remains outstanding
  • PAYE and NIC (late payment): Penalties ranging from 1% to 4% of the amount unpaid, depending on how many late payments occur in the tax year, plus interest
  • CIS (late return): £100 automatic penalty for the first month late, rising to £200, £300, and further tax-geared penalties for extended non-compliance
  • Employment intermediaries (late report): Automatic penalties on a sliding scale based on the number of offences in a twelve-month period

Practical Tips for Staying on Top of May 2026 Deadlines

  • Diarise deadlines in advance: Set calendar reminders at least two weeks before each deadline to allow time for preparation and submission
  • Check your VAT quarter stagger: Confirm whether your business is on the 31 March quarter-end stagger to determine whether the 7 May VAT deadlines apply to you
  • Update your accounting software for VAT fuel scale charges: If your business uses the road fuel scale charge, update your software with the new rates from the start of your first VAT period beginning on or after 1 May 2026
  • Issue P60s promptly: Prepare P60s as soon as the payroll year-end process is complete and distribute them well before the 31 May deadline
  • Reconcile CIS deductions: Ensure your CIS records accurately reflect all subcontractor payments made in the month to 5 May before submitting the return on 19 May
  • Confirm your Corporation Tax payment method: HMRC’s preferred payment methods include online banking using your company’s UTR as the reference. Allow adequate processing time
  • Speak to your accountant early: If you are uncertain about any of these obligations, contact your accountant before the deadline – not after

Final Thoughts on May Accounting Deadlines

May 2026 is a demanding month for accounting compliance across multiple business types. Corporation Tax payments and returns, VAT obligations, PAYE and CIS liabilities, employment intermediary reports, company car notifications, and P60 distribution all converge within a short window. The consequences of missing these deadlines range from fixed penalties and interest charges to HMRC assessments and formal compliance action.

The most effective way to manage May’s deadlines is to prepare well in advance, ensure your accounting records are up to date throughout the year, and work with a qualified accountant who can track obligations on your behalf. If any of these deadlines apply to your business and you are uncertain about your position, request a call back with Accounting Wise to review your compliance and ensure nothing is missed.

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