A lot of new business owners go into the occupation with little to no understanding on how to run a business; instead they decide to make the shift to self-employment due to a number of other skills which are equally as important. This certainly doesn’t invalidate the career move, but it does mean that they need to tackle a lot of the issues they’ll encounter head on, like when dealing with the company accounts.
If you’re not interested in doing a good job with your accounts, then depending upon the size of your business, you could end up missing out on a lot of potential savings to be made with your company tax. You could find that you’re able reclaim money, or it could be that you need to pay more than you have; in which case paying it back could mean that you avoid any charges.
Posted in: Business Financing