Ten things you can do to make preparing your tax return easier
We all know that anything that can save time when you run a business is a blessing. Here are a quick few tips that will help you when it comes to tax return season.
1. Keep all your receipts
2. Check receipts off against your bank statement or credit card statement
3. File them in month order even if it’s just in an envelope
4. Keep track of the money you are due by raising invoices or keeping a diary
5. Pay cash receipts into the bank so you can keep a track of them
6. Keep business and personal bank accounts separate
7. Go through your accounts at least monthly – set aside an hour on the last Friday of every month
8. Put aside some money each month so that you can pay your tax bill
9. Consider subscribing to an accounts package such as QuickBooks Online or Xero – they are cheap, easy to operate and will do most of the work for you.
10. Don’t leave it to the last minute – if you hate doing it, get it out of the way as soon as possible.
For any help with your tax return get in touch with Our Business Services Partner Robert Willison:
Tel: 01825 763366
Online tax return due date: Midnight 31st of January 2018
Pay the tax you owe: Midnight 31st of January 2018
Swindells’ Inheritance Tax Seminar – 6th September
Please join us for our latest Inheritance Tax planning seminar Robin and Duncan will be in reflective mood, looking back at planning strategies that have over the last 10 years saved our clients millions in Inheritance Tax, and looking forward, strategies that we expect to be equally successful in the future.
How to plan for a successful small business exit
A survey by Securian has suggested that more than half of small business owners plan to leave their businesses within ten years, that but three-quarters of them have no plan in place to make a successful exit. This article will help you understand what an exit strategy is, why it’s important and how to begin to put one in place.
Sign up to receive our private content
straight to your inbox