In a recent blog post, we ran through the categories of individuals and organisations required to complete a Self Assessment tax return.

If you missed the post, you can read it here.

But once you know you have to complete one, knowing where to start may not be so straightforward.

Which forms need to be completed? What details need to be included? We’re here to help!

Most people will just have to fill out the SA100 form. However, there are several supplementary pages that may apply to your circumstances.

Some employees, pensioners and self-employed people with a turnover of under £85,000 may be sent a simplified SA200 return, which is much shorter.

Details you often have to include on your tax return include:

  • Income: all taxed and untaxed income from self-employment, taxable interest from savings, dividends from shares or capital gains from selling assets
  • State pension: the total amount of state pension payments you were entitled to receive, plus any lump sum
  • Private pensions: the gross amount of any annuities or lump sums
  • Pension contributions: all payments where deductions were made after tax
  • Benefits: anything you’ve received in incapacity benefit and jobseeker’s allowance, as well as taxable benefits from bereavement allowance, carer’s allowance or industrial death benefit
  • Other income: anything not related to interest or dividends. You can also include any allowable expenses related to this income
  • Charitable donations: including the total amount of Gift Aid donations
  • Student loan repayments: deductions made by your employer
  • High income child benefit charge: this is only for those receiving child benefit when they, or their partner, earn more than £50,000
  • Marriage allowance: the marriage allowance means you can transfer some of your personal allowance to your spouse if your income is less than the personal allowance

Before you start filling out your tax return, it’s best to gather the information you’ll need.

Make sure you have records of your National Insurance and UTR numbers (Unique Taxpayer Reference).

Accounts, invoices, receipts or other records of income should also be recorded, while relevant expenses. Contributions to pensions or charities, and P60 and/or P45 form should also be included.

With the right planning, preparation and support, ensuring your Self Assessment is submitted accurately and in time can be painless.

At Cooper Accounting, we work with sole traders, partnerships and small businesses from Calderdale, Kirklees, Wakefield and beyond to help them with their Self Assessment tax return.

Get in touch to set up an informal chat.