What information do you need to give us at year-end?

Individuals

Trading summary – if your only income is from trading then the minimum we need for your tax return is your sales and expenses in the period – broken down by their main headings. If you require separate business accounts preparing please see the section on Business Accounts below
Employments – please provide a P60 for each employment (this is the annual summary covering the tax year which employers are required by law to provide). If you don’t have one you should contact your employer and ask for a copy
Bank interest – this will be on your statements. if the amount is negligible you can usually ignore this as basic rate tax is deducted at source
Dividends – preferably we would like to see the dividend statement. But if this is not available let us know the amount you received – it should show on your bank statement
State pension – please let us know the amount you received each week/month. Please note it is the payments received in the tax year up to the last 5 April – the payments may have gone up since then
Other pensions – please let us have a copy of the annual statement – your pension provider should send you one of these. If you do not have one you should contact your pension provider for a copy
Other income – please let us know details.

If you want business accounts preparing we will need more detailed information:

Bank statements – preferably with a breakdown of what the individual items are. If you have online banking you can download a summary of your transactions into a spreadsheet or as a pdf
Cash payments or receipts – a breakdown of what these are
Sales – a list of your sales invoices
Year-end debtors – any sales invoices issued in the year but unpaid at the year-end (the company’s debtors)
Year-end creditors – any purchase invoices that relating to the year but had not paid at the year-end (the company’s creditors)
Mileage – There are 2 ways of claiming for your mileage. You can either claim for the actual expenditure, so the payments will be in the expenses above. Or, you can claim the official mileage rate in which case you will need to let us know how many business miles you drove in the year
Fixed assets – details of any fixed assets purchased or sold in the period. Fixed assets are purchases that you expect to last for several years i.e. vehicles, plant and machinery, computer equipment. This does not include minor or consumable items such as computer equipment or sundry tools.
Computer-based accounts – if you keep your records on a computer-based accounting system then please send us a copy of your trial balance, profit and loss account, balance sheet, and a copy of the nominal ledger. If you are not sure the figures are accurate then we can check them if you send us your bank statements

We will need details of:

And don’t worry – just give us a call if you get stuck!