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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.
16 May 2025
Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments will automatically stop.
15 May 2025
The UK's economy grew by more than expected in the first three months of the year, according to the latest data from the Office for National Statistics (ONS).
14 May 2025
British entrepreneurs are considering selling their businesses as a result of changes to tax policy and ongoing economic uncertainty.
13 May 2025
The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic, according to research from the Chartered Institute of Personnel and Development (CIPD).
12 May 2025
Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed.
09 May 2025
The Bank of England has cut interest rates from 4.5% to 4.25%, the lowest rate since May 2023.
08 May 2025
HMRC has come under fire for delays in processing tax refunds.
07 May 2025
Data published by the Institute of Directors (IoD) has revealed that confidence amongst business leaders has risen to its highest level since before the 2024 Autumn Budget.
Get in touch with us today for a fresh perspective and a free consultation.