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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.
24 Nov 2020
The Association of Taxation Technicians (ATT) is calling for guidance from HMRC on the status of virtual office seasonal parties this year.
23 Nov 2020
HMRC has started writing to 4,000 businesses in the hospitality sector requesting them to verify their claims made under the government's Eat Out to Help Out scheme.