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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.
Employees who are working from home will need to make new claims for tax relief for the 2021/22 tax year, HMRC has stated.
A survey carried out by the Institute of Directors (IoD) has revealed that confidence amongst UK businesses has been boosted by plans to re-open the UK economy.
The International Monetary Fund (IMF) has upgraded its UK economic forecasts for 2021 and 2022.