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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 Hatfield area is choosing the best date for your year end. Lovetts 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 Hatfield area and would like help with choosing your year end, contact Lovetts.
HMRC has reopened a claims portal for small employers to again claim refunds for coronavirus (COVID-19)-related sick pay.
A report published by the Federation of Small Businesses (FSB) has found that over half of small businesses expect to grow in 2022.
Four million customers are yet to submit their completed self assessment tax return and pay any tax owed ahead of the deadline on 31 January, according to HMRC.