Self-Assessment Tax Return 2023/24 – Checklist

Your Tax Return needs to reflect ALL relevant income sources for you during the Tax Year (6 April 2023 to 5 April 2024), even if tax has already been deducted from your income. If you have not already been provided with a personalised list of the information we require from you and you would like one then please let us know.

Your personalised list may not include every single aspect of your reportable income. This document has been produced to help jog your memory regarding information we may not have already requested so that your Tax Return is accurate.

Please tell us if you have received:

Income, benefits, and expenses relating to EMPLOYMENTS:

  • Did you or will you receive any P60s, P45s and/or P11D forms?
  • Did you receive any lump sum payments not included on your P60/P45?
  • Did you incur any expenses “wholly, exclusively and necessarily” as an employee for which you were not fully reimbursed (e.g. professional subscriptions)?
  • Please tell us if you received Shares or Share Options as part of your remuneration package
  • Did you work from home because your employer does not have an office?
  • Did you and/or your employer contribute to a pension in the year?
  • Are you a director and/or shareholder of a limited company for whom LKA does not act?

Income and expenses relating to SELF-EMPLOYMENTS:

  • Did you receive any income as a sole trader?
  • Did you receive any income as a partner of a partnership?
  • Did you contribute to a personal pension or SIPP in the year?

Income and expenses relating to PENSIONS and BENEFITS:

  • Do you receive any state or private pensions?
  • Did you receive any state benefits in the year – including those you think may not be subject to tax?
  • Did you or anyone in your household receive child benefit during the year?

Income and expenses relating to INVESTMENTS AND LOANS:

  • Are you a landlord and have you received any income related to the rental of your property during the year?
  • Do you own any investments which are not within an ISA?
  • Did you receive any bank interest on your personal accounts?
  • Did you receive any dividends from private or portfolio owned shareholdings?
  • Did you make any capital gains or losses in the year – i.e. did you sell any assets in the year?
  • Do you own any crypto assets and have you bought, sold or traded crypto to crypto in the year at any point?
  • Do you have any loans for which you used the money for a business (i.e. for shares or equipment) or to pay inheritance tax?
  • Do you have any outstanding student loans?

Income and expenses relating to OVERSEAS:

  • Did you complete any overseas tax returns in the last 2 years?
  • If you are a UK resident then we will require details of ANY overseas income received and foreign tax paid, including but not limited to: interest, dividends, pensions, and rental income.

Income and expenses relating to TRUSTS AND ESTATES:

  • Did you inherit any cash or assets in the year?
  • Did you give away any cash or assets in the year?
  • Did you receive any income from trusts, estates or settlement/ do you expect to receive an R185 form?

OTHER items to look out for:

  • Does your Spouse or Civil Partner earn under £12,570 and would they be prepared to transfer a portion of their personal allowance to you if your income is below £50,270?
  • Did you receive any other income that is not covered by any of the above questions?
  • Did you make any gift aid donations to charity?
  • Did you make, or have you ever made any tax efficient investments in SEIS/EIS or VCT companies?

Please note the above is not a definitive list – it is to be used as a starting point only. We are very happy to hear from you with any questions in regard to the income and expenses that may be applicable to you.