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Liv's Additions

January 2023

What should you be giving to your accountant?

So, you’ve appointed an accountant to act on your behalf, got that all sorted and now it’s time to get the first self-assessment done. But what do you have to give them? They’re going to act on your behalf but they need something to start with. It is really important that you provide everything that your accountant might need as if they are missing something but don’t know about it (like missing a receipt for a big purchase) then you could end up paying more tax and nobody wants that! This one is specifically for sole trader and partnership self-assessment tax returns but all of these things are good to keep hold of as they’re needed for other trading set ups too!

Before we get in to the detail, remember that most importantly your accountant will need records for the relevant tax year. The deadline is currently approaching for 2021/2022 tax returns. This means that it should include any business transactions between 6th April 2021 and 5th April 2022. If you have anything for before this period then that should have been submitted for the relevant tax year and anything after this period can be held on to ready for next year. Hint: keep a lever arch file, email folder or cloud based folder somewhere to hold everything you need. Then, at the end of the year you have everything ready to go!

So let’s get into it. Firstly let’s look at what’s needed for your self-employed accounts (different from the tax return):

Now let’s look at what is needed for the actual tax return;

That is a pretty comprehensive list of what you need to give your accountant each year so that they can produce your tax return and make sure your financial affairs are in order.

As always, if you’re not sure about anything or would like some extra advise then please don’t hesitate to reach out to me on or chat through our Facebook page @AddLivLtd.