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Be tax efficient when deciding a year end date.
One of the things to consider when starting a business in the St Albans area 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 a start-up business in the St Albans area and would like help with choosing your year end, contact Connected Accounting.
01 Jul 2022
The UK's businesses are facing a perfect storm of increasing costs and time is running out for the government to act, the British Chambers of Commerce (BCC) has warned.
30 Jun 2022
HMRC is reminding families not to miss out on the financial support offered by its Tax-Free Childcare (TFC) scheme.
29 Jun 2022
The Financial Ombudsman Service recently published its annual complaints data for the 2021/22 financial year and found that complaints about 'authorised scams' increased by a fifth.
28 Jun 2022
The Federation of Small Businesses (FSB) has urged the government to 'lean lessons from the implementation of coronavirus (COVID-19) health measures' to generate a regulatory business environment that steers away from recession.
27 Jun 2022
The Bank of England (BoE) has reminded the public that it will be withdrawing the legal tender status of paper £20 and £50 banknotes after 30 September 2022.
24 Jun 2022
The estimated tax gap for the 2020/21 tax year is 5.1% - the second lowest recorded percentage - and is unchanged from the previous year, according to the latest data from HMRC.
23 Jun 2022
The UK government has announced plans to strengthen rules on 'buy now pay later' services, improving protection for users of the short-term credit.
22 Jun 2022
UK inflation has risen to 9.1% in May from 9% in April as the cost-of-living crisis continues, according to the latest data from the Office of National Statistics (ONS).
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