If you haven’t already submitted your self assessment tax return for the 2023/2024 tax year, now is the time to get it sorted!
If you are going to complete and submit your tax return yourself, you will need to make sure you have all of the following documents and pieces of information to hand:
Unique Taxpayer Reference (UTR) – You can find your UTR in your personal tax account or on any previous tax returns or documents sent from HMRC.
Government Gateway User ID – You will need this to access your personal tax account. If you have already set up your Government Gateway account you can get your User ID from an email sent from HMRC. If you haven’t, then you can set one up here.
National Insurance number – You will find this on most letters you have received about tax, pensions, benefits or any payslip. Your national insurance number is issued to you 3 months before your 16th birthday.
Issued Invoices – You should have every invoice that you have issued within the tax year to hand. You must keep these on record for at least 7 years as standard.
Salary and other income – You will need your P60 form from your employer. They have a legal obligation to have supplied this to you by 31st May 2024.
Dividends – You should have your accounting records or bank statements on hand to show how much earnings you have received from dividends. Alternatively, you might have received dividend vouchers from the company, or a tax summary from your broker.
Interest – You need to supply the exact amount of interest that you have earned from any accounts that you have in your name.
Income from rental property – You should have kept a log throughout the tax year of all income you have received from any rental property.
Allowable expenses – You should keep a log of everything you have spent money on throughout the year that can be accounted for as business expenses. Click here to see a list of allowable expenses.
Income from trusts – If you have received any income from a trust, you will need your R185 trust income form.
Income from pensions or state benefits – You will need any letters or P60 forms that you have received from your pension or benefit provider.
Student loan plan – You may need any letters sent from your student loan provider, if you have made any payments.
Gift Aid donations – You will need your records of any gift aid donations you have made over the tax year.
Do I need to submit a self assessment tax return?
Read our blog here to find out if you need to submit a self assessment tax return.
If HMRC have sent you a tax return or tax return notice then you will need to submit a tax return even if you have no tax to pay.
When is the self assessment tax return deadline?
The deadline for online submissions of 2023/2024 self assessment tax returns is by midnight on the 31st January 2025. You’ll also need to pay any tax you owe by this date, including the first instalment of any payments on account for the 2024-2025 tax year and any balancing payments owed from 2023-2024.
Do you need any help or guidance with your tax return, or any other tax and bookkeeping? Get in touch with Kathryn today by booking a call here.
