Posted November 14, 2018

What do we need for your tax return?

We are now well and truly in to tax return season.  As a tax advisor, everyone expects January to be my busiest time, but the majority of my clients actually bring their accounts and tax records in between November and December.  This has led me to think about when you are frantically packing a year’s worth of receipts into a carrier bag (slight over exaggeration, but you get the idea)

What is most likely to be forgotten:

P60s/P45s/P11Ds

The top spot has to go to the humble P60s – we need all of them (not just the one from your main job) and don’t forget if you receive a pension you will get a P60 from the pension company.

Credit Card Statements

Second place has to be business credit card statements, everyone remembers to put in their bank statements, but credit card statements are often left out.

Lease Agreements

Finance and lease agreements are a close third place, although these don’t apply to everyone otherwise they would be higher in our list.

Gift Aid Donations

A list of gift aid donations, if you are a higher rate tax payer you can receive further tax relief on any gift aid donations you make.  If you donate via sites such as Justgiving you can log-in and print a list of all the donations you made in the tax year.

Dividend Vouchers

Finally, our fifth item would have to be dividend vouchers – even the ones for 50p from M&S!

This is obviously not an exhaustive list and only includes the most commonly forgotten items – if you are in any doubt about what your accountant needs just give them a call any they will be happy to guide you.

We provide a handy checklist to our clients to make sure that they provide us everything we need to give a first class tax return service.  If you are local our office in Leeds then why not drop your records off and have a chat about how your business has been over the last 12 months.