05: Record keeping

All taxpayers, not just those within self-assessment, have to keep all the records necessary for making a tax return. There are penalties for failing to do so. You must keep records of your income and documents supporting any expenses, deductions and reliefs that you claim. Documents showing tax deducted, such as dividend vouchers, should normally be kept in their original form.

Employers have to provide enough information to employees so that they can make their own self-assessments.

In practice, accountants help clients prepare their returns under self-assessment, but as the taxpayer, you remain responsible for keeping the necessary records and producing information promptly.