Personal Tax Return Information: Aide Memoire

Married Couples

Please only provide information in respect of your own affairs; we will write separately to your spouse if we act on their behalf. Where assets are owned jointly with your spouse, please indicate whether you are showing the total income received or just your half share.

Income

• Earned income from employment, including termination payments : Certificate P60

• Benefits-in-kind arising from employment : Form P11D

• Shares, share options or share related benefits : Share Scheme arising from any employment documentation

• Self employed and freelance earnings : Invoices and Vouchers

• Pensions including State Pension : Certificates P60 or annuity vouchers

• Deposit account interest, eg. from banks, building societies, National Savings Bank, stockbroker, including closed accounts with a note of the interest at date of closure and details of any new accounts opened since 6 April 2006 including date opened, account number and branch. Please indicate whether received net or gross.

• Dividend and interest tax vouchers or stockbrokers annual tax report.

• Any income from abroad. Please indicate whether any local taxes have been deducted.

• Receipts from the estate of a deceased person or as a beneficiary of a trust. : Form R185

• Receipts from insurance bonds and other annuity arrangements.

• Property income, eg. furnished or unfurnished lettings, Including details of all expenses.

• Commissions, gains on surrender of life assurance policies. : Chargeable event certificates

• Jobseeker’s allowance or any other taxable benefits paid by the DWP.

Outgoings

• Expenses attributable to earned income, including professional subscriptions.

• Expenses attributable to self employed and freelance earnings.

• Expenses related to Lloyd’s activities, including copies of any stop-loss insurance or estate protection policies, fees for bank guarantees, ALM expenses, interest payments.

• Certificates of interest paid for all loans on which tax relief is claimed. : Forms MIRAS 5 or 38E-2

• Retirement annuity premiums, personal pension premiums and additional voluntary contributions. : Forms SEPC, PPPC & VCC

• Investments in Venture Capital Trusts and Enterprise investment Schemes. : Tax Certificates

• Gift aid donations, net payments under deeds of covenant.

• Payments of maintenance or alimony (if you or the recipient were born before 6 April 1935 ).

Capital Gains

Stockbrokers’ contract notes for purchases and sales of quoted stocks and shares, including any sales and subsequent repurchases of shares within a 30 day period where the disposal and repurchase straddle 5 April 2006 .

New offers and issues: eg. privatisations, demutualisations, rights issues, public offers.

Purchases, sales and gifts or other assets, eg. houses, land, unquoted stocks and shares etc. or chattels with a value over £6,000.

Important

If you are an employee or in receipt of an occupational pension please send to us for immediate attention all PAYE notices of coding in your possession for 2005/06 and 2006/07 so that we may ensure that your tax payments throughout the year are calculated correctly.

Finally: Any other information or documentation not mentioned above which you feel might be relevant!

 

Timetable for the tax year 2006/07

5 April 2007
Tax year 2006/07 ends.

6 April 2007 onwards
Tax returns for 2006/07 issued. This may simply be a piece of paper that informs you of your obligation to complete a tax return.

31 May 2007
Deadline for employers to provide employees with a form P60 for 2006/07 (year end summary of pay and deductions).

6 July 2007
Deadline for employers to provide employees with a form P11D for 2006/07 (details of expense payments and benefits).

31 July 2007
Second payment on account of income tax for 2006/07 is due. If you have not received a payslip and are expecting to make a payment, please call Sue Stephens .

30 September 2007
Deadline for submission of paper tax return for 2006/07 if a Revenue calculation of the tax due is required and/or you want tax underpaid of less than £2,000 to be collected through your tax code.

All tax return information for 2006/07 should be with us by this date for completion of the return to be guaranteed by 31 January 2008 .

5 October 2007
If no tax return issued for 2006/07, notify HM Revenue & Customs if chargeable to tax for that year.

30 December 2007
If you file over the internet the Return must be sent by this date if you want tax underpaid of less than £2,000 to be collected through your tax code.

31 January 2008
Deadline for submission of tax return for 2006/07, with a potential £100 penalty for failure.

All tax for 2006/07 to be paid by this date.

First payment on account for 2007/08 to be paid by this date.

28 February 2008
Any tax for 2006/07 not paid by this date will be subject to a 5% surcharge (in addition to interest charge).

5 April 2008
Final date for using capital gains tax annual exemptions for 2007/08 and inheritance tax annual exemption brought forward from 2006/07.

Final date to make election to transfer married couple’s allowance for 2008/09.

31 July 2008
Second payment on account for 2007/08 to be paid by this date.

Any tax for 2006/07 not paid by this date will be subject to a further 5% surcharge (in addition to interest charge).

Sue Stephens
Tax Manager