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Self Assessment Checklist

Is this you in January?

"AARRGGHH! I've been meaning to do this all year … I don't know where anything is … what do I need to send you?!"

Your Self Assessment is essential so that HMRC know how much you as a person have profited in the year (salary, business profits, rental profits) and they then know how much tax you need to pay, or how much they owe you.

it is a Self Assessment for you as a person, so your employed job, your self-employed side-hustle, your property rental income, your dividend income, your private pension payments … everything … all goes onto the ONE Self Assessment.

So with that in mind - and in the interests of getting things done … Here's a brief non-exhaustive lost of what paperwork you need to be able to complete your Self Assessment. May as well get onto it now while you are potentially at home a bit more than normal. What better way to spend Lockdown 2020 than locating year-old invoices?!

Sole Traders

(this is for each business you run)

  • Details of all invoices

  • Details of all expenditure


  • Details of rental income

  • Details of any expenditure

  • Mortgage Interest statement for the tax year


  • Details of any other income - eg salary, benefits, pensions, dividends, interest income, foreign income, redundancy lump sum payment, Capital Gains

  • Details of any other relevant outgoings - charity donations (bulky ones with giftaid attached, not the £2.57 in loose change you had and put in the poppy appeal collection), pension contributions

In short, you need everything to do with money coming into and going out of your business and to some extent your personal life. Don't panic - you do NOT need to find all your supermarket shopping receipts!

In an ideal situation, you would have a specific bank account for your business - and so 'all' you need to do is go through that and make sure you have paperwork for each transaction. If you don't have this already … get one now!

Important Note: you do NOT need to keep paper copies of everything. Scanned documents are accepted - especially for receipts printed on thermal paper as these fade quickly.

As I say - this is a non-exhaustive list and more of a guide to get you going. if you have specific questions - please email or take a look at the HMRC self assessment helpsheets (click here) and the HMRC record keeping advice (click here)

Finally - stay safe!

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