The business owner’s end of summer financial checklist

As summer winds down and the final quarter of 2025 approaches, now is the perfect time for business owners to take stock and ensure their financial house is in order. A proactive review in August or September can save you stress later and help you take advantage of planning opportunities before year end.

Here’s a checklist to guide you through the key areas to review

Review profit and loss so far

Take a close look at your management accounts for the year to date. Are profits where you expected them to be? Have expenses crept up in certain areas? A mid year review gives you the chance to course correct or capitalise on momentum heading into the autumn.

Forecast year end tax liabilities

If your business year end is approaching or you operate on a calendar year, now’s the time to estimate corporation tax and personal tax liabilities.

If you’re a company director, you may also want to revisit your salary/dividend split in light of 2025/26 tax changes, including the lower dividend allowance and increasing employer NICs. You can find out more about this in out blog post here.

Consider timing of capital expenditure

Are you planning to invest in new equipment, software or vehicles? Depending on your year end and profits, it may be beneficial to bring forward or delay purchases to maximise tax reliefs such as the Annual Investment Allowance (AIA).

Revisit cash flow

Summer spending, seasonal lulls, or growth investments may have impacted your cash flow. Review your short and medium term cash projections and consider if you need to adjust your credit terms, chase overdue invoices or top up your business reserves.

Plan for staff and benefits

With September often bringing renewed momentum, consider whether bonuses, staff benefits or additional hires are on the horizon.  Payroll costs are increasing, including employer’s NIC rising to 15%, so forward planning is key to managing wage pressures.

Digital readiness for Making Tax Digital (MTD)

If you’re a sole trader or landlord the rollout of Making Tax Digital for Income Tax from April 2026 is getting closer. Start reviewing your record keeping systems and speak to your accountant about switching to MTD compliant software well in advance.

The end of summer is a perfect opportunity to hit pause and reset. Taking the time to assess where your business stands financially puts you in a strong position to make the final months of the year productive and profitable.

If you'd like tailored support with any of the above, the team at Swindells is here to help.