Growing and operating a small business can have benefits and costs to any individual’s mental health. As founders of these businesses, we find our personal wellbeing is intrinsically linked to the success of our entrepreneurial ventures. Our businesses ensure that we get paid, thereby enabling us to live the life we want to. Our sense of achievement and pride are often linked to our business. And small business owners also find they juggle many, many hats, which has the risk of leading to overload and burnout.
With the self-assessment tax return deadline coming up at midnight on January 31st 2019, we know many small business owners feel a significant increase in the level of stress they’re experiencing.
Tax deadlines and wellbeing
Considering the general health and wellbeing of our clients is just one of the many things that sets OZKAN Accountants apart and, like establishing great working relationships, it comes very naturally to us.
At the start of each New Year, we sit together as a team to reflect on the previous year and to prepare for the January 31st end of year personal tax deadline. December and January are particularly busy months for us and we always find it helpful to look back and identify the best ways to further improve the services we offer. Without doubt, at the top of this year’s list, was helping our clients to reduce the stress that so many experience around their end of year tax deadline.
Take more control over your finances
Collating annual company accounts with a tax deadline that falls on the January 31st can be a very anxious time for company owners, particularly when it comes on top of the general day-to-day pressure of running a business, getting ready for Christmas, and returning after the New Year.
And that’s particularly true if you don’t enjoy keeping business and personal accounts kept up to date as you go along. After all, with so many other things to do, keeping track of finances can seem like an easy thing to let slip and to catch up on at another time, doesn’t it?
Well, sadly, no that’s not the case, as we don’t tend to consider the ongoing discomfort we suffer from the little nag that sits on our shoulder each day, reminding us that we should really be sorting the figures out.
When that goes on for several weeks, or months, it can start to build and can take a significant toll on energy levels, particularly as it also means that you aren’t clear on exactly how well your business is doing. Yes, gut feel may be able to guide you a little, but knowing exactly is the surest way to a better night’s sleep! When you know the financial lay of the land, no matter how good or bad, it enables you to identify and focus on key areas of your business and make clear and positive decisions.
OZKAN Accountants – part of your team
And that’s where OZKAN Accountants can be an even stronger part of your team, with our Digital Accounting and Quarterly Financial Reviews helping you to more successfully plan ahead and reduce your stress at the same time!
Keeping us up to date with any significant changes in your business, like winning substantial new clients that might have implications on your tax and VAT liability, means that the right provision can be set aside to cover your tax bill and you can rest easy through the year, knowing that there are no nasty surprises up ahead.
Using one of our Digital Accounting packages brings even further clarity for many clients who, by keeping the figures up to date, use the dashboard and other features to better navigate and plan the year’s trading.
This year digital accounting becomes necessary
What’s more, digital accounting is becoming a requirement for companies over the next two years. As part of Making Tax Digital, VAT-registered companies will need to start providing digital records from April 2019 and non-VAT companies are expected to begin providing digital records from April 2020.
Why not get a head start on Making Tax Digital by integrating digital accounting systems now? We have been working with digital systems for as long as we have been in business as an accountancy firm, so rest-assured you’re in the hands of experts.
Increased Wellbeing – come and talk to us
Come along to our offices for a relaxing coffee and chat to find out all of the ways we can help you to be even more in control, of your business and wellbeing.
To arrange a meeting, please call us on 01273 789857 or email firstname.lastname@example.org
TaggedBookkeeping , FreeAgent , HMRC , Personal Tax