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
The modern-day role of the accountant
Today the responsibilities of accountants range from business analysis to legal compliance and reporting. They are more intertwined with the commercial and financial success of their clients and not only here to fulfil the traditional roles of preparing financial statements, tax planning and auditing. This article will discuss the multitude of ways in which your accountant can support your business aside from more traditional services.
Don’t get caught out. Scam emails & texts from ‘HMRC’
I recently received an email seemingly from HMRC, telling me that I am due a tax refund and giving me a link to click on to claim it. And I’ll admit it carries HMRC logo’s, uses HMRC’s green colour scheme and the amount it said I was due wasn’t unreasonable…read more
Sign up to receive our private content
straight to your inbox