Preparing for the new tax year

It’s the time of year when we have the chance to go and visit our clients, see what’s been happening in their business and more importantly, their plans for the next 12 months.

1 April and it’s the start of a new tax year – Accountants everywhere rejoice!

It’s the time of year when we have the chance to go and visit our clients, see what’s been happening in their business and more importantly, their plans for the next 12 months.

It’s the time of year we start contacting clients and encouraging them to bring their prior year business information in as early as possible.
The earlier we know about any significant changes: it may be to turnover, a change in business direction, the better advice we can offer.

It may be as simple as a review of tax payments for those businesses or individuals who have had a significant change in income during the past year or this may be the only time you have to reflect on how the prior year went and to plan for the new financial year.

If you view your accounts as a tax necessity to be done at the last possible minute, you are not fully utilising the extensive business knowledge your accountant can provide.

WK is in the business of supporting your business – contact us to discuss strategic planning, for assistance with a budget, or cash flow management – Benefit from our years of experience across many types of businesses.

Author: Lisa Mortensen