Top 12 Common Items to Include on your Personal Tax Return

When it comes to filling out your personal tax return, It can quickly become a hassle to remember the most common things you need to put down, and it is very easy to genuinely forget something (which can cause some problems down the line).

To help you make the most of your personal tax return, and to ensure you don’t fall foul of HMRC, we have put together a helpful 12 point list of the most common things to put down on it. This list is not exhaustive, but a general guide for most people to help them when submitting their return.

Income

Employment Income

You should receive a copy of your P60 and/or P11D for the tax year or a copy of your P45 after you have left an employment.

Pension Income

You may receive a P60 for the full tax year or a P45 if you have withdrawn a lump sum.

Bank Or Investment Interest Received in The Tax Year

Except interest received from an ISA as this is tax-exempt.

Dividend Income

Please let us have copies of any dividend vouchers received.

Contributions into a personal pension scheme

Please let us know the provider, scheme number and actual amounts paid into the scheme.

Rental Income and Expenses Paid

Expenses can include insurance, agent fees, repairs and maintenance, utilities, and mortgage interest.

Self-employment income

Please let us know if you have started a self-employment in the tax year.

Gifts, Benefits, Allowances, Loans

Chargeable Events (Such as Acquisition Or Disposal Of Properties Or Shares)

You may receive a certificate for a gain from a chargeable event.

Gift Aid Donations Paid

Please let us know the name of the charity and the amount donated.

High Income Child Benefit Charge

This only applies if you or your partner earns above £50,000 and are in receipt of Child Benefit. If this applies to you, please let us know the total amount of Child Benefit received in the year and the number of children that you and your partner received Child Benefit for.

Marriage Allowance

You can benefit from this if your income is below the tax-free personal allowance and your spouse pays income tax at the basic rate. It allows you or your spouse to transfer 10% of your personal allowance to the other person, which creates a tax saving. Please let us know if you have applied for Marriage Allowance in previous years.

Student Loan

Please let us know if you have an outstanding student loan and if so, which plan you are on (plan 1 or plan 2).

As said above, this list is not exhaustive and is meant as a general list, but it is a great way for most people to ensure they cover the majority of information needed on a personal tax return.

Fore more information on how we could help you with your personal tax, why not visit our dedicated personal tax service page. If you liked this blog post, you read more of our articles here.