And… breathe!

/ Accounting, Tax

Author: Henry Ejdelbaum

Tags: accounting, self-assessment, tax saving

January is nearly over. Now for making sure the rest of the year goes well!

In the next couple of days, accountants across the nation (well, the good ones at least!) will be breathing a sigh of relief. They can step away from the keyboard and relax for a minute, safe in the knowledge that they’re done with self-assessments for this year. For a small business accountant, the self-assessment tax return season is almost undoubtedly the busiest time of the year. But now that we’re done looking back at last year’s work, it’s time to look forward and work with your accountant to plan for this year.

The last couple of years have been interesting situations, and 2020 looks to be no different.

That doesn’t necessarily mean that you need to plan for the worst, but any business should be sitting down with their accountant to look at their financial situation, and make proper plans for the coming year. Speak to your accountant to ask the questions which matter to your business. Do you need to plan differently for the year ahead? Maybe some tax planning? Are you looking to expand? Should you consider a form of business finance?  Can you benefit from R&D Tax Credits? etc. etc.

You’ve got your accountant’s time back, so use it wisely!