The end of the calendar year is a time for reflection of performance during the past 12 months and also a time to set new goals for year ahead for your small business.
New Years Resolutions for your small business
We’ve set out 5 new years resolutions for your small business.
- Embrace the new age of online accountancy – making tax digital applies for all VAT registered businesses from 1 April. Make sure you’re ready for it.
Embracing software for your bookkeeping helps keep your compliance up to date. More importantly, it helps provide up to date and accurate financial information for you to make informed decisions.
- Make use of HMRCs incentives for growth – the UK government makes available incentives for small businesses to attract investment for further growth.
Furthermore, applying for SEIS and EIS will make your company more attractive to investors looking to invest in startups.
- Be innovative – HMRC encourage small businesses to invest heavily in research and development. If your business is spending on R&D and overcoming uncertainty in your field your business could be open to tax incentives including the possibility of a cash tax credit.
- Switch Accountants – accountants aren’t only for your compliance needs. The modern accountant provides advice based on accurate and up to date information. We can help improve your business.
- Compliance – it’s tedious but important for you to keep up to date with your statutory filings. Make sure your filings are made in good time without a late rush. Filing late means a higher chance of making a mistake.
Contact us for more information on how we can help make 2019 a more prosperous new year for your business.