Tax Return Checklist

30th August 2014 ticadmin
Tax Return Checklist

With the numerous types of income reportable on a tax return it is easy to forget about a source of income.  We hope that this check-list will help to remind you of any such income when reviewing your records and completing your tax returns.

Employment income

  • Forms P60, P11D, P45, PAYE coding notices
  • Professional subscriptions and other expenses of employment paid personally

Self-employment income

  • Earned income and any expenses incurred

Capital Gains

  • Assets acquired, sold or which have become of negligible value
  • Windfall’ receipts from building societies/insurance companies
  • Sales of shares acquired under Company share options

Income  from land & property

  • Income from let property and related expenses (including rent-a-room scheme)

Investment income

  • Bank and building society interest received(even if only a small amount of interest was credited to, say your current account, this should be disclosed as it may prevent a subsequent Revenue enquiry)
  • Dividend counterfoils including stock dividends, unit trusts and real estate investment trust distributions
  • Stockbroker end of year report showing  income and transactions
  • Other interest received including Government loan stock
  • Chargeable event certificates from investment bonds

Overseas income

  • Income from savings and investments abroad e.g. bank accounts, holiday villas and shares

Other income

  • Child benefit received if either you or your partner have gross income of more than £50,000

Pensions received both state and other

  • Jobseekers’ Allowance and other state benefits
  • Commissions, fees, tips etc. received
  • Company share options granted or exercised
  • Income from trusts, settlements and estates
  • Income received by minor children from funds provided by parent

Student loan

  • Are you liable to make student loan repayments?

Stay up-to-date with all the bookkeeping and accounting information relevant to your UK business


Just before you go...

If you’ve not found what you’re looking for please don’t hesitate to give us a call on 01420 768 286.

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