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Whether you have just started a new business or are about to, this may well be the first time you have come across the need to keep concise books and records of all income and expenses. For most start-up’s such things are not a priority when there are so many other things to be done and lets be honest, most of them are more fun!
The quality of the records you keep is however important to get right from the start if you are to maximise your claims, after all most of us don’t want to pay more tax than we have to. If your records are maintained from the start it will be much easier than having to recall just what that receipt for £15.99 was for in many months time.
It is important that you record all the expenses you have for your business so that you do not overlook something at a later date. That small amount you pay out on postage each week, or those mobile phone calls you make. Even these small amounts can add up and make a difference to your overall profit.
Knowing just what is allowable to claim as an expense from your business turnover can make all the difference in the amount of Tax and National Insurance you have to pay. Here at TaxClever are years of experience of reviewing books and records of business such as yours will help you through this, and our in depth knowledge of HM Revenue and Customs rules will ensures your claims are accurate.
At TaxClever we offer a number of packages to help you with record keeping from full bookkeeping services on a weekly, monthly or quarterly basis to a start up only package that is designed to give you a starting point, these packages come with a number of checks on your records and can be adjusted as your business grows.