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.
• 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
• 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
• 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
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.