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Making Tax Digital is on the way, which means the current Self Assessment tax return as we know it is an endangered beast.

For this year though, you will still need to submit your Self Assessment tax return as normal. HMRC use it to calculate the amount of tax you owe as a small business owner, freelancer or partnership.

Using an accountant for Self Assessment

If you’re not a fan of filling in the Self Assessment information yourself, and not many people are, you might instead bring in the services of an accountant. Although this is preferable to submitting a shabby tax return, it doesn’t mean your job is done quite yet.

You’ll still need to provide your accountant with the relevant information, so they can complete and submit your return for you.

If you’re unsure what to send in, here’s a list of all the information you’ll need to provide your accountant with so they can file your Self Assessment. You can also download our Self Assessment guide for beginners.

 

Self Assessment Guide

Vital information on registering and completing your SA

Download

Employment information for Self Assessment

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. An Employer’s P11D shows all taxable and other benefits that you receive.

Pension income

If you receive an occupational pension you should provide your accountant with your P60 or the certificate of pension paid. You will also need to show your accountant how much pension you receive and your notification letter if you receive a state pension.

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

Self-employment and partnership income

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:

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
Income from property Income and expenditure including mortgage interest statements
Overseas income Dividend vouchers and evidence of other income
Expenses List of all tax deductible expenses e.g. professional subscriptions, travelling expenses
Pension contributions you have paid Payments details, 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 Lender’s statements displaying paid interest and tax relief given

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.

 

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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 online quote.

About The Author

Lee Murphy

MAAT and ICPA accountant, with a passion for making accountancy and bookkeeping accessible. Other interests include cloud-based software development for web and mobile access, keeping fit, reading, and entrepreneurship.

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