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What Information Should I Give my Accountant for Self Assessment?

documents for self assessment

Making Tax Digital is on the way, which means the current Self Assessment tax return as we know it is an endangered beast. However, that doesn’t mean you can let things slip.

While it may be on its last legs, it’s still important to submit your Self Assessment in order to calculate the amount of tax you owe as a small business owner, freelancer or partnership.

If you’re not a fan of filling in the Self Assessment information yourself, it’s possible you’ve invested in the help of an accountant.

And although this is preferable to submitting a shabby tax return, it doesn’t mean your job is done and dusted quite yet.

You’ll still need to provide your accountant with the relevant information when requested so they can submit your return on your behalf.

If you’re unsure what you need to send in, here’s a list of all the information you’ll need to provide your accountant with when they’re filing your Self Assessment.

Employment information

If you’ve been an employee, either through your own company or otherwise, you will need to provide information on your annual salary and any tax you have already paid.

You should do this by providing your accountant with a P60 or P45, which shows gross salary, tax deducted and any student loan deductions.

If you have received benefits or expenses you will also need to provide evidence of this via the Employer’s P11D, which shows all taxable and other benefits.

Pension income

If you receive an occupational pension you should provide your accountant with your P60 or the certificate of pension paid.

If you receive a state pension you should provide the amount of pension received and your notification letter.

You should also provide information on any other taxable benefits such as amounts received including taxable lump sums.

Self-employment/partnership

If you are self-employed or in a partnership, you should give your accountant all information of any profits or losses the business has made over your accounting period.

This will include:

  • Business records
  • Partnership interest income and the tax deducted
  • Any other partnership income

Investment income

Any income you have made on investments must also be declared in the Self Assessment return, which is why you’ll need to tell your accountant about them.

You can see below a table of the investment income type and the document you’ll need to provide.

Investment income type

Documentation required

Interest from banks and building societies Certificates of interest and tax deducted
 

Dividends from UK companies and/or unit trust including shares and/or units in place of dividends

 

Dividend/distribution vouchers which display the dividend received, the date received and the tax credit

 

Income from trusts, settlements, Deeds of Covenant and estates

R185 or certificates of income with tax deducted
 

National savings interest received gross

 

Statements of interest received

 

Income from property

 

Income and expenditure including mortgage interest statements

 

Overseas income

 

Dividend vouchers and evidence of other income

 

Monies withdrawn from life assurance policies or bonds

 

Chargeable Event Certificate from life assurance policy

 

Employment expenses

 

List of all tax deductible expenses e.g. professional subscriptions, travelling expenses

 

Pension contributions you have

paid

 

Payments made including dates, amounts and policy details with copy documentation

 

Qualifying loans and mortgages

 

Lender’s statements displaying paid interest and tax relief given

 

Gift Aid  or Deed of Covenant payments

 

Gift Aid payments details including charity, date and amount given and covenant details

Student Loan repayments  

Details of payments made with amounts and dates and copy statement displaying the balance as of 5 April

 

Other payments qualifying for tax relief

 

Details of the payee, amount, date of payment and a short description of the reason

Capital transactions

You should also provide information pertaining to and capital transactions. For this, your accountant will require information on any of the following relevant to you:

  • Disposal of main residence if partly used for business
  • Disposals where gains exceed £11,000
  • Capital losses to be claimed
  • Share securities bought, sold or take-overs
  • Property acquisitions and disposals
  • Other chargeable disposals, e.g. personal property/effects worth over £11,000

Additional information

Your accountant may also need additional information from you when submitting your return. If you have any other income aside from those listed above, or tax deductions or gains/losses, you must provide your accountant with this information.

Once they have received it, your accountant will be able to complete an accurate Self Assessment return on your behalf.

In need of a new accountant for Self Assessment season? Get in touch with the TAP team by calling 020 3355 4047 or get an instant quotation here to see how you can save yourself stress, worry and money.

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