Choosing a year end

One of the things to consider when starting a business in the Torquay, Exeter and Newton Abbot area is choosing the best date for your year end. The Accountancy & Tax Centre 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 Torquay, Exeter and Newton Abbot area and would like help with choosing your year end, contact The Accountancy & Tax Centre.