Self-Assessment Checklist

Income

Employment

For each job you held during the tax year, you should have either a P60 or P45:

• P60 – Issued by your employer(s) at the end of the tax year (5 April), detailing your total taxable income and tax deductions for the year. If applicable, it will also show any student loan deductions.

• P45 – Issued by your employer(s) when you leave a job during the tax year. Like a P60, it shows your taxable income and tax deductions up to your leaving date. However, student loan deductions are not included, so you will need to provide your payslips for the year if these apply.

If you received taxable benefits that were not included in your payslip, your employer should also provide you with a P11D:

• P11D – Issued by your employer(s) at the end of the tax year (5 April) to report any taxable benefits received outside of your payslip. Common examples include company vehicles and private medical insurance. Employers have until 6 July following the end of the tax year to issue P11Ds. If you had multiple jobs, you may receive more than one P11D.

Rental Property

Important: If you sell a UK rental property, you must report and pay any tax due to HMRC within 60 days of completion. For more information, click here.

If you receive income, please provide the following information:

• If you are a new client this year, details of the property being let (date purchased, price paid, legal fees and other costs on purchase, mortgage taken out, improvements made to the property, history of dates lived in property and dates property let, whether it is furnished or unfurnished, expected current value)

• Details of rental receipts during the tax year with any management fee paid split out separately

• Details of all expenditure on the rental property during the year (insurance, service charge, ground rent, repairs & maintenance, capital improvements (e.g. new kitchen), utilities paid, details of trips made to the property (mileage), advertising costs or any other costs directly related to renting the property).

• Mortgage statement showing the capital/interest repayment split for the property - you can request this from your mortgage provider if they have not sent you one.

• If you sold your property during the year, we will also need the date sold, selling price, legal fees and other costs on sale.

If you rent a room in your house, then we will need details of the income received during the tax year.

Sole Trade Business

If you operate a sole trade business, we should have already discussed how to maintain your records.

Online bookkeeping software – Please notify us once your records are up to date and ready for review.

Spreadsheets – If you maintain records using a spreadsheet, please email us the file covering the relevant period. If you have a sole trade business, we should have discussed with you how to keep your records.

Bank Interest

Your bank should provide a statement for each account showing the total interest received for the tax year. While you can add up the monthly interest amounts yourself, this may be less accurate. All interest is now paid gross (without tax deducted).

You do not need to provide details of interest from cash ISAs, premium bonds, or NS&I tax-free products, including Fixed Interest Savings Certificates and Index-linked Savings Certificates, as these are not taxable.

Dividends

If you hold personal investments outside of an ISA, please provide us with the relevant dividend vouchers for the tax year.

If you are a director of a limited company and we prepare your company accounts, we will review your dividends as part of our service, so you do not need to provide separate details.

Pension Received

State Pension

State pensions are paid every four weeks. HMRC usually issues an annual letter detailing any increases in your pension amount. Please provide either:

• This HMRC letter, or

• A bank statement showing a four-week payment during the tax year.

Private Pensions

For private pensions, you should receive a P60, which we will need to complete your tax return.

Other Income

Capital Gains Tax

If you sold any shares, property, cryptocurrency, or other assets during the tax year, we will need the following details for each sale:

• What you sold

• Date of sale

• Sale price

• Purchase date and price

• Any costs related to the asset (e.g., transaction fees, legal costs)

Foreign Income

As a UK resident, you must declare your worldwide income on your UK tax return. Please provide details of any foreign income received during the tax year, including any foreign tax paid.

Taxable State Benefits

Include any taxable state benefits received, such as Jobseeker’s Allowance.

Other Income

If you have any other sources of income not covered above, please discuss these with us to determine if they need to be included in your tax return. If you're unsure, it’s always better to double-check.

Reliefs

Job Expenses

If you personally pay for expenses related to your employment you may be able to claim additional tax relief. The most common examples of these are:

• Mileage - if you receive less than 45p per mile for business mileage in your own vehicle from your employer, then we can usually reduce your tax liability. We will need the number of business miles travelled and the rate your employer reimbursed you.

• Uniform Allowance - if your employer has a set dress code then you may be eligible to various reliefs including uniform and cleaning allowances - suits & ties are generally not allowed. Find out what flat rate expenses you can claim tax relief on by checking the standard amounts to cover clothing and tools.

• Professional subscriptions - if your job requires you to hold a membership to a professional body (and your employer does not pay for this) then we can usually claim the cost of this and reduce your tax liability. We would need proof of payment (invoice and/or bank statement).

Pension Contributions

Personal pension contributions - if you contribute to a personal scheme, then you may be able to claim additional tax relief. You will need to provide:

• The name of the provider

• Your contract/membership number

• The amounts and dates of the contributions

• Your annual pension statement

Company pension contributions - there are two types of arrangements whereby your company makes pension contributions on your behalf:

• After tax contribution - this scheme will be referred to as 'relief at source' in your pension documents. You may be able to claim additional tax relief on these contributions so you will need to provide us with your payslips for the full year (April to March) and your annual pension statement.

• Before tax contribution - this scheme will be referred to as 'net pay' in your pension documents. You have already received full tax relief on these contributions. We will only require information if you've exceeded the pension threshold (see details below in other information).

If you are unsure which arrangement your company uses then send us your most recent payslip and an annual pension statement so we can advise further.

SEIS/EIS

If you invested in an Enterprise Investment Scheme (EIS/SEIS) then you will probably be able to receive tax relief. You should receive a certificate from HMRC (form SEIS3) for each investment and will need to pass this on to us.

It is also important to let provide us with additional information if you sell an investment or the company you invested in goes into liquidation.

Gift Aid DONATIONS (& Memberships)

If you made donations to a qualifying charity and claimed gift aid then you may be able to claim additional tax relief (if you are a higher or additional rate taxpayer). Some memberships such as National Trust and English Heritage also enable you to claim gift aid.

We need the following details:

• Charity name & number

• Date of donation

• Donation amount

• Gift aid claimed? Yes/No

Important note: Gift Aid donations are not to be confused with general Crowdfunding donations. Some JustGiving donations and most GoFundMe donations are not made to a registered charity. You can find information on registered charities by using the following link: www.gov.uk/find-charity-information

Other Information

Change Of Circumstances

Please let us know if your circumstances have changed so we can update our records, this includes:

• Name change

• Marital status change

• Address change

• Change to number of dependents

Tax Code

We will need your tax coding notices from HMRC over the year. If we are registered as your agent then we should have access to this information but if we have only recently taken you on then please provide these.

Child Benefit

If you or your partner receive Child Benefit and your income exceeds £60,000, the highest earner in the household must declare it on their Self-Assessment tax return.

Please provide the following details:

• The date you started receiving Child Benefit

• The total amount received during the tax year

• The number of children you are claiming for

Marriage Allowance

If one spouse is below the higher rate threshold (£50,270 for 2024/25) and the other spouse is below the personal allowance (£12,570 for 2024/25) you can claim the marriage allowance - this will save you just over £250 in tax. We will need your partners details (i.e. name, national insurance number & date of marriage)

Pension Thresholds

If you earn more than £200,000, please provide us with details of your pension contributions (both employer and employee) for the current year. You should receive annual statements from your providers. If this is your first year with us, please also send us the three previous years pension statements as you can normally bring forward unused allowances.

We would suggest speaking to an IFA (we recommend Jim Monger) before paying into a pension: www.millwardmay.co.uk/independent-financial-advisor.