13:28 23 March 2013
Unfortunately, every year people wait until the last minute to file their yearly income tax and little preparation is done to ensure that they get the highest possible return. Many possible deductions which could have saved them hundreds of pounds are missed because of lack of documentation.
Don’t go in unprepared. It’s never too late to save a few pounds!Small business owners, unfortunately, cannot afford to be lackadaisical in their approach to business finances, including filing end of the year tax documents.
Waiting until the last moment to get records and documents in order, or even worse, not having documents that should have been kept throughout the year, is a sign of poor business structure and organization. Yet, year after year, many businesses continue to fly by the seat of their pants when it comes to preparing end of year finances.
So here are some ideas to help you change your approach to this sometimes complicated area:
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