Employees and limited company directors

Income from employment

You should keep documents about your pay and tax, including:

• your P45 – if you leave your job, this shows your pay and tax to the date you left
• your P60 – if you’re in a job on 5 April, this shows your pay and tax for the tax year
• form P11D – this shows your expenses and benefits, like a company car or health insurance
• certificates for any Taxed Award Schemes
• information about any redundancy or termination payment

Contact your employer if you do not have your P60, P45 or form P11D.

You should also keep details of any other income or benefits from your job, including:

• any tips received (unless your employer pays them through the ‘tronc’ system, which means they will have deducted tax already)
• benefits you get in connection with your job from someone other than your employer, like meal vouchers
• any lump sum payments not included on your P60 or P45, like incentive payments or ‘golden hellos’ (payments you get to encourage you to take a new job)

Expense records

If you’ve had to pay for things like tools for work, travel costs or specialist clothing for work, you may be able to claim for these to reduce the tax you’ll have to pay. You need to keep a record of these so you can include them in your tax return.

Benefits records

You should keep any documents relating to:

• social security benefits
• Statutory Sick Pay
• Statutory Maternity, Paternity or Adoption Pay
• Jobseeker’s Allowance

Income from employee share schemes or share-related benefits

You should keep:

• copies of share option certificates and exercise notices
• letters about any changes to your options
• information about what you paid for your shares and the relevant dates

details of any benefits you’ve received as an employee shareholder Rental income

You should keep details of:

• the dates when you let out your property
• all rent you get
• any income from services you give to tenants (for example if you charge for maintenance or repairs)
• rent books, receipts, invoices and bank statements

allowable expenses you pay to run your property (for example services you pay for such as cleaning or gardening) Capital gains or losses

You may have to pay Capital Gains Tax if you sell (or ‘dispose of’) certain assets that have gone up in value since you got them.

You must make sure you keep the correct records.

Overseas income

You should keep:

• evidence of income you’ve earned from overseas, like payslips, bank statements or payment confirmations
• receipts for any overseas expenses you want to claim to reduce your tax bill
• dividend certificates from overseas companies
• certificates or other proof of the tax you’ve already paid – either in the UK or overseas