Tax return season is nearly over for another year (phew!) and accountants everywhere will be collapsing in heaps, wondering why they thought “dry January” was a good idea and making mental notes that next year will be better!

But how was it for you?

If you did it yourself, could you find what you needed?  Or had a few receipts gone through the wash in your jeans (shame it wasn’t a lottery ticket eh!)

It doesn’t have to be this way. Follow some simple steps below and next year will be a breeze!  All it takes is a bit of organisation.

• Buy yourself a nice folder or document wallet (nice stationery always helps, and it’s tax deductible!)
• Make a note on the front of your UTR, NI number and government gateway details
• File documents in there as they arrive through the post or via email.  P60’s and P11D’s are often emailed to employees now – print them out and put them in the folder when you get them so you aren’t trawling through emails next New Year or hassling your payroll department for copies!
• If you receive any dividends in the year – you will get a dividend voucher when the dividend is paid – file it when you get it.
• The same goes for bank interest – if you are lucky enough still to get bank interest – then you will get a “certificate of tax deduction” from your bank – or you can download one.  Print it out and pop it in the folder.
• File any other tax related items as you receive them – if in doubt – file it!  Far easier to realise you didn’t need it when you come to do your return, than be turning drawers out trying to find it.
• If you have bought or sold shares in the year, you will need those details so keep the contract notes in the file.
• Have a buy-to-let?  A separate section of the file will be needed to keep the receipts from B & Q, for the plumber who popped over, and for the mortgage interest statement your provider will send you.

Then when you pluck up courage next year to get your return done (pre Summer hols – NOT in January 2017!) everything you need will be to hand and you will wonder what all the fuss was about.

If you are self employed then you will need to have all those documents as well – but that’s for another blog!

For most people, the nightmare of doing your tax return is trying to find the information you need – but with a little bit of organisation, you can make next year a relatively pain free experience.

If you do need some help with your tax returns, all nice folders will always be welcome with me at Wilkins & Co