Chapter 2 – Financial Control – Rule your money
This is part of the ‘How to’ coaching series. An ongoing series of activities to make your business successful. Follow it step by step and see positive results as you develop a robust business model, set on a solid foundation.
Activity 45 – My quarterly and annual filings are on time each quarter
Do you run an organised business and get your filings done on time? Why would it matter if you were late?
For a start, it may well cost you quite a bit in fines from HMRC.
The more important thing is that it would indicate to me, or anyone else looking, that you are not in charge, or on top of, running your business.
When you have a well organised business, you and your team can concentrate on the income generating tasks.
The HowTo bit:
It may seem ridiculously simplistic to say, schedule the actions to get your returns back on time, in your diary. But in reality, that should be all it takes.
I put trigger dates in my diary for all my bookkeeping and accountant related tasks. I make sure that my accountant has all my financials in plenty of time for them to get the filing done.
Make sure your accountant has arranged, and carried out, the filings. That way you won’t get caught out. Even though you have an accountant, in the eyes of HMRC, it is the business owner who is responsible for making the filings on time.
If you would like to find out about getting your business organised, Contact Us…