The surprising things clients often forget to mention

Every month, we like to share common questions we hear from clients. This one comes up more often than you might think: 

“Do I need to include this on my tax return?” 

In many cases, the “this” is a one-off financial event — something out of the ordinary that you may not realise is taxable. While it’s easy to remember the routine income sources like your salary or rental income, it’s often the less frequent, one-time items that slip through the cracks. 

Here are a few examples of one-off items that should be considered for your tax return: 

🔹 Bond interest or payouts 
🔹 Matured life insurance policies (especially investment-linked ones) 
🔹 Pension lump sums or withdrawals 
🔹 Capital gains from selling assets like shares, property, or even cryptocurrency 
🔹 Interest from savings accounts outside of ISAs 
🔹 Taxable state benefits – for example, certain disability benefits are not taxable, but Child Benefit may be if you’re over the income threshold 

So, what’s the best approach? 

Don’t file away these bits of paperwork or delete that email thinking it’s not relevant. When in doubt, send it all to your accountant. We can sort through the details and make sure everything that should be included is – and that nothing gets missed. 

That way, you’ll avoid any unexpected tax bills and get the most accurate financial picture possible. 

Need help with your tax return or have a question about a specific item? 

📧 Email us at info@streamlineaccountants.co.uk 
📞 Call us on 01677 424077 
💬 Or send us a WhatsApp at 07498 540878 

We’re here to take the stress out of your tax return