You need to run a tight ship when it comes to keeping track of your limited company’s business expenses. Without accurate record-keeping, #HMRC could knock back your expenses claim. Whether it’s keeping tabs on business mileage, fuel costs, or equipment expenses, stay organised.

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Additional fines are piled on top of that if you’re more than six or 12 months late. The only way to guarantee you won’t have to pay these fines is to file on time. If you haven’t yet filed your tax return, please get in touch with us for a FREE consultation 😉

3. You don’t need to worry about fines. The threat of getting fined is part of the reason that leaving a tax return to the last minute is so stressful. If you pay one day late, it’s a £100 fine. Then after that, it’s £10 more for each day until you reach the £1,000 cap.

2. You can opt into PAYE to pay your bill. If you file an online tax return and have earnings taxed under PAYE (from other employment), you can choose to pay your self-assessment tax month by month via PAYE too. You must have a tax bill of less than £3,000 to be eligible, though.

1. You could get a quicker tax refund. If HMRC owes you a refund, it will be processed as soon as you file your return, provided you file way before the deadline.

3 reasons why you should file your tax return early. A thread 👇

We wish you a Merry Christmas and a Happy and safe New Year! #uksmallbiz #smallbusinessowner #assistsupport #MerryChristmas

If you are a small business owner, and you're looking for a bookkeeper, then you are in luck! We are offering you a FREE initial consultation. Giving you insight on your business finances and how we can ASSIST. Book a chat with us on our website now https://t.co/oRNBK28Hq4 :)

Don't wait till the last minute to send your tax return. Be the early bird and don't miss the deadline. Make sure that your tax return arrives at the #HMRC on time. Contact us now so we can get your accounts in order ;) #assist #businesstax #uksmallbiz

Payroll shouldn't give you a headache. If you need payroll support, we can save you valuable time by taking over your payroll. We will take care of your RTI submissions and your end-of-year filing requirements with #HMRC 👉

A looming #tax deadline can be quite stressful, even more so as a small business owner. Tax forms that have been filled out incorrectly or missed deadlines will result in late fees and fines, neither of which are good news for a small business with a tight budget. We can ASSIST!

As a small business owner the assistance of a tax accountant can save you money in the long run. Let your accountant take care of the business finances and you can have more free time to spend on other crucial aspects of running your company #accountant #bookeeper #xero #assist

We are a friendly Accounting team based in Wantage, Oxfordshire and virtually. We provide #Accounting & #bookkeeping services including Annual Accounts, Personal Taxation, Bookkeeping, VAT, Payroll & CIS. We are also @Xero certified ;) https://t.co/OWNEUHRrqH

The best piece of advice a wise #accountant will give you is to file and pay your #taxes on time. Financial penalties for failure to file, failure to pay, have the potential to cause a significant financial setback to your business or even cause it to close. #businesstax

The best way to get ready for a tax audit is to perform an internal audit. Better to turn your business inside out and make corrections to your financial records on an internal audit than to have to answer to #HMRC in the form of a penalty. #businesstax #businessowner #assist

If you need business support, we offer limited company set up FREE of charge. It also comes with business advice when you sign up to accounting with Assist. Feel free to explore packages on our website #accountant #bookkeeper #tuesdaymotivations https://t.co/tBsEJxmh8N 😉

When keeping your personal and business finances separate, keep things in order and be able to answer questions like; What was purchased? Where was the purchase made? When did the transaction take place? Why was the item or service needed? and How much did it cost? #assistsupport

Let's support small businesses #smallbiz #smallbizuk

If you move goods between Great Britain and Northern Ireland, the Trader Support Service can guide you through new processes under the Northern Ireland Protocol, that start on 1 January 2021. Sign up now for this free service at https://t.co/tLzGoyNc5d