What Information Should I Give my Accountant for Self Assessment?

Making Tax Digital for Income Tax Self Assessment is on the way, which means the current Self Assessment tax return as we know it is an endangered beast. For now though, you will still need to submit your Self Assessment tax return as normal. HMRC use it to calculate the amount of tax you owe as a small business owner, freelancer or partnership.

Using an accountant for Self Assessment

If you’re not a fan of filling in the Self Assessment information yourself, and not many people are, you might instead bring in the services of an accountant. Although this is preferable to submitting a shabby tax return, it doesn’t mean your job is done quite yet.

You’ll still need to provide your accountant with the relevant information, so they can complete and submit your return for you. Lots of people are unsure about what they actually need to send in, so we’ve put together a list of all the information you’ll need to provide to your accountant so they can complete your Self Assessment. Remember, the sooner, the better!

Employment information

If you’ve been an employee or director, either through your own company or otherwise, you will need to provide information about the wages that you received, and any tax you have already paid.

You can normally do this by providing your accountant with a P60 or P45, which shows gross salary, tax deducted and any student loan deductions. You’ll also need to let them know about any Benefits in Kind you receive (such as a company car, for example), so give them a copy of the details you get from your employer.

Pensions

There are two sides to telling HMRC about your pensions: letting them know about income that you receive from one, and reporting any payments that you make into a pension scheme so that you can claim tax relief on it.

If you receive an occupational pension you should provide your accountant with your P60 or the certificate of pension paid. You will also need to show your accountant how much pension you receive and your notification letter if you receive a state pension.

You should also provide information on any other taxable benefits, such as amounts received and taxable lump sums.

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Self-employment and partnership income

Your accountant needs to know about the income that you receive as a self-employed person, whether you’re a sole trader, a partner in a partnership, or because you have your own limited company, and pay yourself dividends as well as a salary.

You’ll normally need to provide:

Business records, including the bookkeeping
Confirmation of your share of any partnership income
Partnership interest income and the tax deducted
Any other partnership income

Investment income

Any income you have made on investments must also be declared in the Self Assessment return, which is why you’ll need to tell your accountant about them. The table below shows examples of different types of investment income, and the document you’ll need to provide to your accountant.

Investment Income Type	Documentation Required
Dividends from UK companies and/or unit trust including shares and/or units in place of dividends	Dividend/distribution vouchers which display the dividend received, the date received and the tax credit
Expenses	List of all tax deductible expenses e.g. professional subscriptions, travelling expenses. If you’re not sure what counts as an allowable expense, don’t miss out! Double-check it with your accountant.
Gift Aid or Deed of Covenant payments	Gift Aid payment details including the name of the charity, date and amount given, and covenant details
Income from property	Income and expenditure including mortgage interest statements
Income from trusts, settlements, Deeds of Covenant and estates	R185 or certificates of income with tax deducted
Interest from banks and building societies	Certificates of interest and tax deducted
Other payments qualifying for tax relief	Lender’s statements displaying paid interest and tax relief given
Overseas income	Dividend vouchers and evidence of other income
Pension contributions you have paid	The details of any payments made into pension schemes including dates, amounts and policy details with copy documentation
Qualifying loans and mortgages	Lender’s statements displaying paid interest and tax relief given
Student Loan repayments	Details of payments made towards your Student Loan, with amounts and dates and copy statement displaying the balance as of 5 April

Capital transactions

You should also provide information which relates to any capital transactions. For this, your accountant will require information on any of the following relevant to you.

Disposal of main residence if partly used for business
Disposals where gains exceed £6,000 in the 2023/24 tax year (this threshold will be £3,000 when it’s time to submit your 2024/25 tax return)
Capital losses to be claimed
Share securities bought, sold or take-overs
Property acquisitions and disposals
Other chargeable disposals, e.g. personal property/effects worth over £6,000

Additional information

Your accountant may also need additional information from you when submitting your return. If you have any other income aside from those listed above, or tax deductions or gains/losses, you must provide your accountant with this information.

Once they have received it, your accountant will be able to complete an accurate Self Assessment return on your behalf.

In need of a new accountant for Self Assessment season? Get in touch with the TAP team by calling 020 3355 4047 or get an instant online quote.