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Tax Return Checklist

24 June 2009 No Comment

The UK tax year runs from 6 Apr to 5 Apr . . .

So that we can keep track of your tax office and reference numbers, please let us have either:

  • Page one of your tax return; or
  • The “Notice to File”.

Student Loans

  • A copy of the Student Loan account showing the balance remaining on 5 Apr just gone.
  • Tell us if a new one has started since 5 Apr.
  • Tell us if an old one has been fully paid off since 5 Apr.

Is your Domicile outside the UK?

In tax law the word “domicile” does not mean your address, it means your natural home. This may be important for people who were not born in the UK or whose parents were not born in the UK, or for people have moved away from the UK and have permanently elected (and proven) that they have established a natural home somewhere else. There are complex tax rules for people who have a non-UK domicile and who have foreign income or gains. Regardless of “domicile”, UK residents are taxed on their worldwide income or gains. However, if you do have a non-UK domicile, you may be entitled to claim tax relief on foreign income which is not remitted into the UK. If this applies to you please discuss the situation with us.

Do you receive any bank interest or other investment income?

  • Please provide copies of certificates of Bank Interest Received, dividend vouchers and other documents showing amounts of investments received.
  • Different rules, rates and allowances apply to different types of investment income from 6 Apr 2016 so it’s important that you provide full and accurate information.

Are you an employee or a director?

  • A copy of form P60 for all roles held as at 5 April; or
  • A copy of form P45 for all roles that ended during the tax year.
  • Employers are required by law to issue forms P60 by 31 May following the relevant 5 Apr. Forms P45 are normally issued within 14 days of you leaving an employment.

Do you make student loan repayments through the payroll?

  • As the P45 and the P60 do not always show the student loan repayments made, we need a copy of the final payslip for each employment. That means the 31 March payslip for jobs you had at the year end, or the last payslip they gave you if you left any job(s) part way through the tax year.

Do you have any benefits in kind (like a company car) or any reimbursed expenses (like travel)?

  • A copy of form(s) P11d issued “as at” 5 April for all roles held in the last tax year (whether they were still active on 5 April, or not).
  • Employers are required by law to issue forms P11d (to relevant employees) by 6 Jul following the relevant 5 Apr. However, if a P11d is not relevant to you, the employer is under no obligation to tell you that you’re not going to get one. Check.

Did you have a pension (state, occupational or private annuity)?

  • A copy of the form P60 as at 5 April or other statement from your pension provider, showing Gross pension and Tax deducted.
  • Pension providers (other than the State Pension) are required by law to issue forms P60 by 31 May following the relevant 5 Apr.
  • Letters detailing State Pension rates and entitlements are normally issued in March and April setting out what your individual rate is. Almost no-one gets the standard rate of State Pension as it is often enhanced by the level of your national insurance contributions. Hence we cannot rely on headline rates, and we need the rate specific to your case.

Do you or your partner receive Child Benefit?

  • Please let us have a simple analysis of monthly receipts of Child Benefit over the year, setting out clearly the dates and the amounts when any changes were implemented. Please also state the number of children you or your partner were entitled to receive Child Benefit for. There are complex rules in cases where you or your partner move out or move into the family home part way through a tax year. If this applies to you, please talk to us on a one to one basis.

Are you self employed or trading in a partnership?

  • Please consider the Annual Accounts Checklist which is the subject of a separate exercise. Check with us if in doubt about this step.

Do you have any rental income?

Do you pay into a private pension scheme?

  • Please provide a summary of amounts paid under each separate pension policy, and state whether these were paid gross or paid net.

Do you contribute to any Gift Aid scheme?

  • Please provide a simple analysis showing the name of each gift aid scheme and the amount paid.

Lastly, please consider if any of the following items need looking at more closely:

  • New sources of income in that tax year.
  • Job Seekers Allowance or other taxable benefits.
  • New stock options.
  • Capital gains or losses on shares, securities and other assets.
  • Purchases and sales of “second” properties.

If you are unsure about any of these points please feel free to call us.