We know the tax year hasn’t finished yet, but now is a really good time to start thinking about your tax return.
You need to submit your information for the period 6 April 2022 to 5 April 2023 by 31 January 2024.
Although January 2024 seems like a long way away now, we all know how time flies and that filing deadline will be here before we know it!
It would be useful to note down all the income and expenditure you have and the information you need to prepare the tax return, so that in April you’ll know what to get. You’ll need to look at:
If you have rental properties, you’ll need to find:
Mortgage statements showing interest for the year ended 5 April 2023
Receipts proving expenses for the year
Rental statements from letting agent (if you use them)
If you have shares you’ll need dividend vouchers for the year
If you have a salary you’ll need your P60 (and P45s if you’ve moved jobs) to show your income for the year. If you received any benefits in kind such as a work car, medical insurance etc, you’ll also need your P11d.
If you have a pension you’ll need the P60’s from the pension company, and for state pension you’ll need the letter from the government letting you know what your pension will be for the year ended 5 April 2023.
For bank interest you’ll need the certificate from the bank showing what interest they paid for the year 6 April 2022 to 5 April 2023.
Because the year end hasn’t finished yet, now is a good time to think of ways you could reduce your tax bill or save for the future. If you have enough income and cash, you could:
Make extra payments to your pension
Make payments to charities
Put money into ISA’s
How we can help