Check-List For End Of Financial Year
Book an appointment with a tax advisor and start working on your tax return earlier. Plan ahead for the next 12 months and make a business plan for the coming year and the years to follow.
- Review your subscription bills
Make sure that your business isn’t paying for services and softwares that you don’t use. Review your subscriptions and cancel unnecessary expenditure.
- Tax Allowances
You can deduct up to a certain amount from your business income that qualifies for tax allowance (Buy plant and machinery), this will save you tax and at the same time will make it easier for your business to grow.
- Get everything in order
Make sure to stop using any dormant bank accounts and credit cards that you don’t use or need. If managing your accounts seems like an overwhelming task then you can appoint a book-keeper or start using hisaab.pk (best accounting software for SMEs)