With the new year now less than a month away, here are our top financial tips to ensure that you start the year (and decade) as stress-free as possible.
Prepare, no matter what may happen!
You’re probably attempting to avoid the mention or thought of Brexit, however, that doesn’t mean that you shouldn’t have a plan in place no matter what the eventual outcome is.
Whether it’s a deal, no-deal, ‘Brexit’ or ‘Remain’, ensure that you and your business are prepared. The government currently has a useful ‘Get ready for Brexit’ tool available.
The team at Clear Vision Financial Management has helped a range of businesses plan ahead to avoid any concerns over the outcome.
Are you Making Tax Digital (MTD) compliant?
The government legislation came into effect back in April 2019, however many businesses still aren’t complying with Making Tax Digital (MTD). If you’re unsure as to whether you or your business is doing things correctly, the worst thing to do is to bury your head in the sand and not face the issue until it’s too late.
The HMRC is currently in the midst of carrying out a 12 month ‘soft-landing’ period where only those being seen attempting to comply will not face any charges. However, a points-based system has been confirmed to come into effect in 2020. Clear Vision Financial Management can work with you to ensure that you don’t face any unnecessary penalties and fees.
Tax returns: know your deadlines
Self-assessment? Need to make a payment? Whatever your situation, they’ll be a specific deadline that you should be working to.
In order to alleviate any doubt and confusion, the financial experts at Clear Vision Financial Management have come up with their unique 3 & 3 commitment, where a meeting takes place 3 months prior to year-end to review draft accounts and make any recommendations of strategic financial actions that could be taken before filing, as well as 3 months following year-end where your accounts will be completed for sign off.
Don’t hesitate to ask for financial advice or guidance from your accountant when you need it. Clear Vision Financial Management is on-hand to help whenever you need it, with the ability to work closely alongside you as much as you wish.