January and Februray are those early months of the year where it’s easy to do bugger all. Whether you’re sitting in a warm van all day, or back in the yard ‘sorting out stock’ this is the time when you could really be pressing home with your spare time.
We recommend cracking on with your tax return and submitting it well before the deadline. Then you’ll be able to chill knowing you’ve earned it.
But now, if you’ve missed the original deadline of 31 January, the pandemic’s given you an extra month to file your 2020/21 tax return and even longer if you want to spread the repayments.
Don’t shit yourself, we know it can be stressful. But we’ve got you and your tax return covered. Let’s see what you need to do to smash that deadline.
Focus on the task at hand
It’s easy to lose focus when you know you’ve got to do something as boring as filing a tax return. There are a million things you can think of that you’d rather be doing, and none of them involve tax.
But if you don’t get it sorted, you’re setting yourself up for a load of stress (and financial charges) later down the line.
So, set yourself some time each day – it doesn’t have to be long at all. And stick to it. Turn off the footy, shut the door to your office, and spend at least 15 minutes working through your tax return.
It’s as simple as that, really, and you’ll feel so much better once you’ve done it.
Use technology
Technology has come a long way in the last 10 years. We all remember the Nokia brick phones that used to get lobbed around sites. Their sleeker successors don’t respond well to the same kind of battering but can do so much more under the hood.
Using cloud accounting is the obvious draw here – you’ve got all your accounts easily accessible on your phone, so you can pull data out without even needing to be tied to your desk.
Also, you can make use of the various productivity tools that smartphones and devices have these days. Apps like Notion, Evernote, Google Keep etc allow you to make quick notes that sync between your devices seamlessly.
You’ve got easy access to everything you need at a moment’s notice – you can steam through your tax return in no time.
Get it checked over
It’s worth having another pair of eyes in the room, not only because they’ll be able to check you haven’t missed anything, but you’ll also be sharing some of the burden.
If you’ve got someone in your crew who is showing a keen interest in the financials, why not let ‘em help? It’s best for the continued growth of the company, and should make the total workload seem a lot smaller.
Speak to a pro
At the end of the day, you know you’re not a financial expert. If you are then you’re in the minority.
That’s why picking up the phone and getting a pro on the blower is the way forward. Talk to your accountant, find out what needs to be done, and assess your options from there.
We’ve been putting together tax returns for tradesmen for years – we’d never say it’s a piece of piss, but we’re confident we can get it sorted for you.
The sooner you get in touch, the sooner we’ll be able to help you meet that extended 28 February 2022 deadline. Ready for it? Give us a call.