CIS Tax Return Due – What is needed?

The start of the new tax year has reached us, this meaning a tax return for the previous tax year (06/04/2013 – 05/04/2014) needs to be filed with HMRC.

Each year we get asked what we require to complete your tax return. Below are the main pieces of evidence HMRC would expect you to provide us.

Income:

  • Payslips / CIS vouchers
  • P45 / P60 (if employed)
  • Bank statements

Expenses:

  • Receipts
  • Bank statements
  • Mileage log
  • MOT Certificate

 

What expenses can I claim for?

  • Materials and Tools
  • Work clothes, boots and protective wear
  • Cost of subcontractors
  • Secretarial costs
  • Accountants / professional Fees
  • Travel and subsistence
  • Motor Expenses- either as mileage claims or percentage of costs
  • Mobile phone costs
  • Internet Costs
  • Stationery, printing and postage
  • Business insurance
  • Subscriptions & memberships
  • Advertising and promotion
  • Training costs
  • Bank interest and charges

 

Don’t forget to keep all receipts and vouchers as HMRC are attacking and making more enquiries each year, this will save you from any issues if you happen to be reviewed. These need to be kept for 6 years from the tax year end.

Basically, anytime you put your hand in your pocket and spend money for work, get a receipt!

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