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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 Lancashire area is choosing the best date for your year end. Ashworth Treasure 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 Lancashire area and would like help with choosing your year end, contact Ashworth Treasure.
22 Oct 2021
UK manufacturing output volumes in the quarter to October grew at a similarly firm pace to September, according to the Confederation of British Industry (CBI).
21 Oct 2021
A study carried out by the Federation of Small Businesses (FSB) has showed that small firms are losing £25 billion per year as compliance costs and time lost to dealing with tax admin soar.