For many people and businesses now it’s a time to find bank statements, open up envelopes of uncategorised receipts, put the monthly figures into accountancy software and, most importantly, work out where to get the money to pay the tax man as well as the accountant. This isn’t necessarily good news when there are also Christmas presents, parties and dinners to be paid for.
Sometimes whether you had a good year or a bad year, this time can be stressed and uncomfortable. Obviously accountants can help ease the pressure and work some magic and assist those that are less familiar with the process. For those that don’t have the time or aren’t good with bookkeeping the perfect solution will be to approach a professional.
There’s also cloud accountancy software available that connects to your bank accounts and you can download the transactions from your bank. You can then itemise them. The cloud element means that your accountant can also log on to your profile and tell you what you’re doing wrong and assist you further. It is very simple because your accountant won’t need to go through piles of invoices; the software generates all your invoices.
If you are a business and have to register for VAT or to become a limited company your accountant will be able to advise you. It all depends how well you business is doing if you met the threshold in terms of profit and turnover. Some business owners only focus on running their businesses but need to remember that they need to get to grips with all aspects of their money, but by using a trusted professional in a form of an accountant can help overcome fears of tax matters like VAT and other liabilities.
One of the best feelings is to have any worries about the looming deadline at the end of January. Most people don’t enjoy paying taxes, but they do enjoy having clarity about how much is owed to HMRC.
Stanley Carter have considerable experience in all aspects of taxation and business services, including providing a very cost effective payroll bureau service. If you want to arrange a non obligation initial meeting on any taxation or accounting matter please contact us on info@stanleycarter.co.uk or check our website for further details www.stanleycarter.co.uk
