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One of the things to consider when starting a business in the Saffron Walden area is choosing the best date for your year end. HSA & Co 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 Saffron Walden area and would like help with choosing your year end, contact HSA & Co.
HMRC recently published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords.
23 Feb 2024
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