12:54 25 March 2013
If you just started a business, you may be surprised to find that there are a host of different dates to note for your business financial year end tax planning. No one needs more on their plate when running a business so here are a few steps to help you stay organized.
This is a series of generic steps which can help start you in the proper direction when it comes to financial year end tax planning.
Keeping inaccurate or insufficient records can cause penalties, so if you are unsure what types of records to keep, search online or communicate with HM Revenue & Customs (HMRC) to get a better idea of what you should be keeping.
Also, if you decide to retain your records in an electronic format, be sure to scan both the front and back of any items to prevent the questioning of document authenticity. Check first with the HMRC to ensure that electronic records are acceptable.
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