The days and weeks leading up to 30th June are traditionally busy times for accountants and their clients (as well as financial advisors and lawyers), with lots of plans being implemented…all of a sudden there is a very urgent deadline!
So why do we look forward to today? Because if it wasn’t done at the end of yesterday…then it has no impact on last financial year and the pressure is off!
But that doesn’t mean we stop working…oh no, no, no…in fact I really love this time of the year – having the chance to help everyone lodge their tax return and (hopefully) get a tax refund – as well as assisting businesses to put plans in place for the next financial year.
As a business you should be looking to finalise your budget for 2015/16 and fine tune any accounting systems – all while reconciling last financial year. I know many of you leave your financial statements and tax returns to late in the year to be prepared, but there is no penalty for getting them done earlier! Just because you complete them earlier, doesn’t mean you have to actually lodge them, and you certainly don’t have to pay any earlier…so have a think about it.
The Tax Chic is here to help with all of the above, I look forward to hearing from you.