It’s the perfect time to get your financial paperwork in order early and make sure everything’s ready for submission. Whether you’re a sole trader, or landlord, staying ahead of deadlines can save you stress (and potentially money!). To help you stay on track, we’ve put together a simple year-end checklist so you know exactly what needs to be submitted and when.
2024 – 25 Tax year end checklist:
Employment:
P60s
P45s
Benefits from employers
Self-Employment:
Your sales records
All your purchases
Business related expenses
Capital expenditure
Previous year's losses - if applicable
Bank statements
Business details (business activity, date of start and cease of the business)
UK Property:
Rental income and expenditure, during the Tax year.
Foreign:
If you received income from abroad, during the Tax year.
Trusts:
If you received income from a trust, settlement or a deceased person's estate. This does not include cash lump sums/transfer of assets, otherwise known as capital distributions, received under a will.
Capital Gains:
If you disposed of any chargeable assets, or have any chargeable gains, or you wish to claim an allowable loss or make any other claim.
Partnership:
If you were in a Partnership, during the Tax year.
Residence:
If you were a resident of the UK for more than 183 days, during the Tax year.
Any other income:
Interest
Dividend information
Pensions and State benefits : state pension, incapacity benefit, jobseeker's allowance
Life insurance gains
Share schemes and employment lump sums, compensation and deductions
Other information:
Student Loan
Child Benefit
Marriage allowance
Payments to pension schemes
Charitable donations or Gift Aid
Blind person's allowance
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