For many people (including accountants) Christmas is a time to look forward to. Time with friends and family and a little rest and recouperation is what everyone looks forward to.
For accountants the time running up to Christmas and immediately after is a busy time indeed, with the self assessment tax return deadline looming on the horizon.
Panic not, we have everything under control.
At A Dickinson we of course encourage all businesses to get their accounts in as early as possible, this helps ensure an even smoother flow through the system and of course helps stop business owners panicking at the last minute. Some business owners tend to focus less on bookkeeping throughout the year and end up cramming everything in last minute. This can lead to missing vital receipts out and in turn can lead to a higher tax bill in the end.
Remember if you miss the deadline, the HMRC will impose a fine, which without doubt hits hard in the pocket and budget.
So what are some of the secrets to smooth self assessment tax returns.
- Firstly it’s a great idea to do your income and expenditure throughout the year. Keep it in a spreadsheet or use an online bookkeeping service like Kashflow.
- Secondly get your records over to your accountant as early as possible. Remember the tax year ends each April so in principle you could send your income and expenditure soon after.
- Another simple solution is to hire the services of an accountant. Having a local accountant on hand can provide you with an invaluable service when it comes self assessment and of course bookkeeping. If you have a question about what you can and can’t include in your accounts, your accountant will have the answer.
Christmas may be on it’s way but the self assessment deadline is too. If you need a local Wigan accountant to take care of your tax returns we can help. With a team of highly skilled professionals, we provide year round service to businesses large and small. Irrespective of the season our priority is always ensuring your accountancy needs are taken care of.
We wish everyone a Merry Christmas and a prosperous New Year.
For more information about any of our services contact us today.