Information Typically Required For a Tax Return.

Tax return due? What do I need? When do I need to submit?

We have prepared the following list of items that are typically required by your accountant to calculate tax and complete a personal tax return. Not all items will be relevent.

1. Employment including directorships.

• P60 Certificate of pay and tax deducted or P45s
• P11D from the company, showing all taxable benefits
• A list of deductible expenses, membership subscriptions, travelling expenses

2. Copies of spreadsheets/accounting books and VAT Returns to the business financial year-end (sole traders and partnerships).

• Copy of your bookkeeping ledger, cash book and/or original receipts and invoices
• Copy of your spreadsheet or software backup
• Complete bank statements covering the entire year – ideally a CSV download from your
online bank account, include credit card statements and loan statements
• Details of amounts owed to you by customers at the end of your year
• Details of the amount you owe to suppliers at the end of your year (copies of year-end supplier statements)
• Detail of any new vehicles, equipment, loans or finance agreements

3. Pensions and state benefits received in the tax year

• P60s or other certificates for pensions
• P45 or other document showing taxable social security benefits received
• State pension notification is given at beginning of tax year

4. Child Benefit received (inc number of children) if individual adjusted net income is over £50,000 and you are the higher earner.

5. Interest received in a tax year, state gross or net and name of the bank or building society.

6. Dividends received in the tax year. State number and name of shares. Enclose a copy of vouchers if in doubt.

7. Charitable and business gift aid Gifts in the tax year of money or shares, amount and date of payment, the name of the donee. Distinguish one-offs from regular annual giving.

8. Property rental income and expenses for the tax year with mortgage interest costs.

9. Pension contributions paid by you (not your employer) in the tax year and not deducted from taxable pay.

10. Capital Gains – If total gains are less than £12,300 (22/23) or £6,000 (23/24) no details are needed unless to establish a capital loss.

11. Details of any repayable student loan(s).

Failure to submit a tax return on time could lead to HMRC issuing financial penalties, interest, and surcharges on tax unpaid, as well as an increased likelihood of tax compliance checks by HMRC.

For assistance on calculating tax, completion, and submission of the tax return, please contact us for a fixed quote.