The new year is fast approaching and although your accounting year may run from April to April, January is always a good time to get everything in order. If you find that you are not very organised with your accounts for your business then you may choose to outsource it to a firm of accountancy’s or a book keeper. You will still need to ensure that you keep copies of the receipts and payments you make, but they will be able to manage the paperwork side of things for you.
Come January, lots of people will have to pay their tax and national insurance bills. Depending on what their profit was, this can easily rack up in to the thousands. It is vital that you try and save this money throughout the year so as not to end up trying to find a large sum of money just after Christmas.
If you are struggling to pay then you should speak to HMRC as soon as possible to see what can be done.
Now may be the perfect time to start working with an accountancy firm. It will allow them time to get to know you and your business before the task return i due next September.