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One of the things to consider when starting a business is choosing the best date for your year end. Connected Accounting can advise you on this.
It is important to choose the right year end for your business.
To what extent is your business seasonal? Is there a time of year when it will be more convenient to close off your accounting records, ready for us, your accountants?
From a tax viewpoint, the choice of a year end early in the tax year for an unincorporated business often means that an increase in profits is more slowly reflected in an increased tax bill.
If you are start-up business and would like help with choosing your year end, contact Connected Accounting.
13 Aug 2020
The Federation of Small Businesses (FSB) has urged local councils in England to ensure the speedy issuance of small business grants to firms that require them.
28 Jul 2020
Taking a look at the extension of Making Tax Digital to other taxes.