September: End of the summer, schools are back, evenings start to draw in, perhaps you’ve
started thinking of the income tax return deadline of 31st Jan?
Some of our clients have already filed their 2021 / 2022 income tax returns but if you haven’t
yet filed yours now is a good time to start collating the information needed.
Here's a quick checklist:
You should have received a P60 from your employer showing the amount of pay you
received and tax deducted during the tax year ending 5th April 2022. If you make student
loan repayments this should also be shown on your P60.
If you’ve left your employment during the tax year you should have received a P45 which will
also show the pay and tax deducted.
P11D, if you received any taxable benefits from your employer such as private medical
insurance or a company car then you should have received a P11D.
If you are a sole trader you will need to include your accounts for your year ending during the tax year on your self assessment. Don’t forget to adjust your profit for disallowable expenses and any capital allowances that you wish to claim for.
Investments / Shares
For any investments / shares you hold, if you received dividends during the tax year, you’ll
have received a dividend voucher, showing the amount and date that the dividends were
Your bank should issue you with an interest certificate showing the amount of interest you
received on each account, however you may need to request these.
If you sold any shares or assets during the tax year, you will need the original cost, how
much it was sold for and any costs associated to calculate the gain.
You will need to include any state pension and private pension you received. Private pension
providers issue a P60 and HMRC normally sends a letter explaining the increase to the state
pension or you could check your bank account for the state pension received between the
6th April 2021 - 5th April 2022.
Some state benefits are taxable and need including on your self assessment such as
Bereavement Allowance, Job Seekers Allowance and Carers Allowance.
If your earnings are over £50,000 and you are the highest earner v your spouse you will
need to declare any child benefit you received during the year on your tax return.
If you receive income for property rentals or furnished holiday lets you will need to include
the income received and costs incurred such as repairs and maintenance, utilities,
If you rent a room in your property then you will need to include the income received during
the tax year.
If you are a UK resident and worked abroad during the year or received any foreign income
you will need to include the income received and any foreign tax paid on your UK tax return.
Personal Pension contributions
If you made any personal pension contributions, you may be able to claim tax relief on the
contributions. You will need a copy of your pension statement to include the contributions on your tax return.
If you made donations to a UK registered charity and claimed gift aid you may be able to
claim relief on your income tax return if you are a higher rate taxpayer.
We hope the above list helps you collate the information you need to complete your tax
return however if you’d prefer to have your tax return completed by a professional
accountant then get in touch with us at: Sam@springtidebrighton.com