Surviving a Tax Audit in the UK – What did HMRC ask for?

There are few things in life more stressful than a tax audit. Just when you think you’re on top of things that little brown envelope comes through the post and inside is an ominous looking letter. Not printer on the usual white paper but instead on a scary looking grey paper. At the top of the letter is says “Check of Self Assessment tax return for the year ended 5 April 2013” (in my case) and it’s accompanied by a leaflet “General information about compliance checks”. You’re being audited by HMRC and it’s time to put your record keeping to the test.

Tax Receipts and Record Keeping in the UK

Let’s have a little chat about record keeping in the UK! As a self employed person, you must keep records to back up the information you put on your self employed tax returns. You can keep paper records, electronic records (e.g. in a spreadsheet) or you can use software. So what sort of information do you need to keep track of?