Smarter accounting

Get your discount 2016 tax return

7 February 2016, Advocates, Artists, Barristers, Creative Industries, Employer, Musicians, Sole Traders

10% discount 2016 tax return

Everyone should have filed their 2015 tax return by 31st January 2016.  For most people this means a sigh of relief and not thinking about it until again until next January.  There is nothing to stop you filing your tax return in April or May if you have all the information you need.  Alterledger can help you with this and even offer you an incentive with a discount 2016 personal tax return fee.

How to get your discount

To get your discount 2016 personal tax return, all you need to do is provide Alterledger with the details required by 30th June 2016.  We use an online questionnaire so you can keep track of the details needed.  The 10% discount will be applied to your fee from Alterledger and applied to your next monthly charge.

The information required to complete your tax return includes:

  • Employment income (eg P60 or P45 from your employer)
  • Benefits in Kind (P11D from your employer)
  • Dividends
  • Bank interest
  • Freelance accounts
  • Rental income

Most of the items above are easy to get.  Your employer is required to provide you with your P60 by 31st May 2016.  This form will include the gross amount of salary for the year, tax deducted and and student loan deductions.

Details of dividends are provided by companies in a tax certificate.  Many companies do not finalise their accounts until 9 months after their year end, but for larger public companies, you should get a dividend voucher as the dividends are paid.  If you don’t have a paper copy of the voucher, you may be able to get a copy online.

Many banks don’t send tax certificates for interest paid, but if you can’t download a copy from your online banking access, you can request a copy from the bank.

Freelance accounts are more complicated that the other items above, but Alterledger can keep you up to date with your accounts as you trade so everything will be ready for you to review shortly after your year end.

If you have a rental property, you will need to prepare separate accounts.  Alterledger can prepare these for you and make sure you claim expenses that you are entitled to, reducing your tax bill.

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