Accountants In Eastbourne
Accountants In Eastbourne – Tax Tips For Small Businesses
Accountants in Eastbourne are available to help you with one area of running your own business that isn’t the most exciting: tax. This is an issue you will need to tackle, and you will need to do so efficiently. Below, we have put together some top tips to give you a helping hand.
Firstly, the last thing you want to do is come unstuck at tax deadline time, which is why you must set aside future tax liabilities. Most accountants recommend setting up a separate deposit account for this reason. Don’t forget to claim for any costs that you have encountered as a consequence of setting up your company. It is also a good idea to look into the Flat Rate VAT Scheme if your business is VAT registered. During the first year following registration, you will benefit from a further percentage reduction under this scheme. You should also consider online accounting software packages, and you need to maintain accurate records at all times, keeping your receipts and invoices in a safe place. Always ensure your tax returns are submitted on time as well, otherwise you will be subject to a fine. The most important piece of advice is to hire a tax return accountant. Some small business owners are tempted to deal with their tax commitments in-house. However, this can take up a lot of time and resources. Plus, while it may cost to use the services of accountants Sussex based, they will save you more money in the long-run and, therefore, it is an investment worth making.
If you want to work with the best accountants in Eastbourne to ensure that your business grows and adheres to all tax regulations and requirements, all you need to do is get in touch with AMG Financial Chartered Tax Advisers & Accountants. We offer bespoke tax advice for all types of businesses. Find out more at https://amgfinancial.co.uk.