Choosing a year end

One of the things to consider when starting a business is choosing the best date for your year end. Grace Frank can advise you on this.

It is important to choose the right year end for your business.

To what extent is your business seasonal? Is there a time of year when it will be more convenient to close off your accounting records, ready for us, your accountants?

From a tax viewpoint, the choice of a year end early in the tax year for an unincorporated business often means that an increase in profits is more slowly reflected in an increased tax bill.

If you are start-up business and would like help with choosing your year end, contact Grace Frank.

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Grace Frank LLP, Chartered Accountants, is a limited liability partnership registered in England and Wales, Registered number OC375216. Registered office Grace Frank LLP, Unit 10, 1 Luke Street, London EC2A 4PX . Members: Morisha Christy FCA, Morishac Limited. Regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. VAT registration no. GB138 7186 84.