Tax Returns – what we need from you
Getting ahead with your tax!
Whilst the thought of your tax bill may make you want to hide, at Woodville we know that knowledge is power.
When you know your tax bill you can plan for the future with more certainty than you had before.
This is why, going forward, we will ensure your tax return is submitted to HMRC in good time. Our new internal deadline for 100% of submissions is 20th November, giving you at least 2 x full months to plan and pay.
This gives us time to help you plan for the future – the stuff you really want us working on.
Kaizen - always improving
We really believe in the Kaizen method of continuous improvement, which started in the Japanese manufacturing industry and are always looking at improvements in how we can collect information from you – making your life easier!
If you don’t receive income from self-employment / CIS, then you can fill in our form here. We will have income from work we do for you (typically employment & dividend information) so we’re just looking for income outside of those sources.
For our usual checklists of information, keep reading below!
CIS - self-employed
- Monthly deduction certificates, complete for the year
- Details of any other income outside of CIS, including work invoiced but payment not received
- Bank statements for the whole period – downloaded as a .csv file (please contact us if you need help with this)
- Invoices and receipts for all expenses
- Invoices for any subcontractors you have employed
- Mileage record for year (please contact us if you would like a mileage log spreadsheet sending over)
- If you aren’t claiming mileage but put through fuel, all receipts must be posted to us. We will also need to see the relevant MOT certificate.
- Details of Self-Employed Income Support Scheme (SEISS) grants received in the year along with any other COVID support grants.
Self-Employed / Partnerships
- Sales invoices or cash book with income details, including work invoiced but payment not received
- Bank statements for the whole period – downloaded as a .csv file (please contact us if you need help with this)
- Invoices and receipts for all expenses
- Cash book of expenses
- Mileage record for year (please contact us if you would like a mileage log spreadsheet sending over)
- If you aren’t claiming mileage but put through fuel, all receipts must be posted to us. We will also need to see the relevant MOT certificate.
- Closing Stock
- Payroll Records (if you have employees and we don’t complete your payroll)
- Details of Self-Employed Income Support Scheme (SEISS) grants received in the year along with any other COVID support grants
Rental Income
- Bank statements for the whole period – downloaded as a .csv file (please contact us if you need help with this)
- Estate agents statements showing any commissions paid
- Mortgage statement to year end showing interest paid
- Receipts for all expenses
- Details of income received outside of bank or income that is received late
Final information to check over
- Pension contributions you have made
- Pension income you have received
- Make any charity contributions?
- Receive any property rental income?
- Other employment income work self-employed or as a partner in a business?
- A company director?
- A trustee or executor of an estate?
- Receive any untaxed income? Examples include interest on PPI claims, scrap metal receipts
- Receive any trust income?
- Receive foreign income?
- Receive any dividend income?
- Receive income from savings or investments of £10,000 or more before tax?
- Have an annual income of more than £100,000?
- You or your partner receive more than £50,000 & either of you receive child benefit?
- Have tax due at the end of the year that couldn’t be collected via your PAYE coding notice?
- Have claims for expenses for more than £2,500?
- Have any capital gains including sale of 2nd home, business or other assets?
- Receive a notice to complete a student loan?
- Marriage Allowance applied for/from spouse/to spouse
- Receive SEISS grants
- Receive any other COVID support grants
- Cryptocurrency / other new online gains / losses
What next?
Send us your information then sit back and relax! We’ll be in touch when we’ve claimed everything we can for you or need more information.
If you have any questions, give us a call!