Most sole traders think completing a tax return is fairly simple, so do not see the point in paying £200-£350 to an accountant to do it when they could save the cash and do it themselves because it’s a case of income versus expenditure and then pay HMRC tax on any surplus.
Did you know being self-employed allows you to reclaim capital allowances on assets you own and use in your business (such as tools, computer equipment, etc) which reduces your return, these are some of the ways you can reduce your tax bill which could be far more than the fee payable for the support.
Planning is a vital task for any business. It is also integral to creating an effective and meaningful business growth strategy.
You should review your business performance regularly and aim to identify:
-your business performance progress
-key growth areas
-the most likely strategy for growth
Planning for business growth
Complacency can be a major threat to a growing business. Assuming that you will remain successful, simply because you have been in the past, is unwise. You should prepare a business plan for growth and outline the exact direction and activities needed for expansion.
You should also regularly review your ongoing business plan. This will help you to identify what action you need to take to change your business and the way it operates. For example, you may need to:
-change suppliers if you've outgrown them
-renegotiate contracts to take account of increased volume
-train and develop employees, as well as your own role
-update to newer technologies that can support your growth
We can help you realise that dream of securing and owning your own business and brand.
We've helped all our clients to date register and set up their business with little to no fuss as we manage the process on your behalf.
PLUS if you do need it, can we act as your new accountants in the process and provide all the resources and advice you will need to get started.
If you're an aspiring entrepreneur speak to us about registering that business name and brand.
Take advantage of our free telephone or video conference consultation and find out how we may be able to help you with your business goals.
Book online at www.angleaccountants.co.uk
Nature of Ownership:Black Owned
Companies House No:08091829