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?