Many clients prefer to use an accountant for their tax return, rather than tackle it themselves, but handing that job over to someone else doesn’t mean your job is done. We will need as much information as possible so to enable us to accurately complete and submit your Self Assessment tax return for you, particularly to help us take advantage of any potential tax allowances and reliefs you may not be aware of.

We’ve put together a list of all the information you’ll need to provide to your accountant so they can complete your tax return. Remember, the sooner it’s in, the better.

Employment information

If you’ve been an employee or director, either through your own company or otherwise, you will need to provide information about the wages you received during that tax year, and any tax you’ve already paid on it.

You can normally do this by providing us with a P60 or P45, which shows gross salary, tax deducted and any potential student loan deductions. You’ll also need to let us know about any Benefits in Kind you receive (eg: a company car), so provide a copy of the details from your employer.

Pensions

There are two reasons for telling us about your pensions:

1. Letting us know about income you receive from one (because counts towards your calculation for taxable income).
2. Reporting any payments you make into a pension scheme so you claim tax relief on your contributions.

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

It's worth mentioning here that you should also provide information on any other taxable benefits, such as amounts received and taxable lump sums.

Self-employment and partnership income

We would need to know about the income you receive as a self-employed person, whether you’re a sole trader, a partner in a partnership or because you have your own Limited Company and pay yourself dividends as well as a salary.

You’ll normally need to provide:

• Business records, including the bookkeeping
• Confirmation of your share of any partnership income
• Partnership interest income and the tax deducted
• Any other partnership income

Investment income

Any income you've made on investments must also be declared in the Self Assessment return, which is why you’ll need to tell us about those. 

If you would like to discuss your self assessment and tax returns then please don't hesitate to contact us using the form below or by calling our office on Lincoln High Street.