Head to full-stop.shop to make the most of our #backtoschool stationery sale ✏️ with 25% off across the site

Free registration for the Firmcheck Summer School is now open, catch @FullStopLauren in discussion with @FreshFinancials on July 30th firmcheck.com/aml-summer-sch…

Submitting it this month is a key step on the way to being able to have these figures ready month-by-month, so you can save the tax as you go, making it less stressful. Not inspired yet? Remember, it’s not always bad news, so you could be delaying getting a tax rebate!

There is no risk of late fines with this July 31st deadline, but by looking at our earnings now you can stop the pain of trying to remember something we did 18 months ago!

Completing it this month, gives you time to ensure everything is covered, to review and plan your earnings for this year. Plus, knowing what your tax bill is, you’ll have time to save for it, if needed.

We all know our personal tax year finishes in April, and while nothing can change what’s been and gone, by getting your return in, you can spend your time planning for the future, not looking back.

Getting your self assessment returned before July 31st actually means that you don’t have to pay HMRC any more than needed - so it’s worth getting that tax right!

One is January 31st to clear any tax from the previous year (yep, the one that sets everyone in a blind panic over the Christmas holidays!) and one is at the end of July - which is actually a “payment on account” in anticipation of the tax you are due to pay in this year.

Now before you scream at your phone “why are you nudging me with self assessment in July?!” Let us explain… HMRC actually look for two payments per year for self assessment

This is your reminder to get your self-assessment submitted before July 31st. We promise it’ll be worth it!

“If you’re unsure if something is a viable expense, HMRC use the phrase ‘wholly and exclusively’. Try it! Ask yourself, is this expense bought ‘wholly and exclusively’ for your business to function?” @FullStopLauren

“Looking at your numbers is one thing, taking action from them is another. Ensure all of your subscriptions are being used - wasted costs sneakily add up. Ask yourself is there a better system that does multiple tasks for your business.” @FullStopLauren

“As a small business owner we have the agility and control to make quick pivots, implement them and track the change. But you do need a surplus in money, time and energy to be brave in business.” @FullStopLauren

“Trends are harder to spot, and what may have been a good month for you last year, may not this year. Use your current numbers to take your next steps, with the help of systems and automated technology” @FullStopLauren

“Don’t wait until January 31st to get your self-assessment done, and don’t make big life-changing decisions with those numbers because they’re so out-of-date.” @FullStopLauren

“The lies we tell ourselves about our business aren’t always easy to see. But your numbers won’t lie to you. They’re the most truthful advisor for our futures” @FullStopLauren

“Why would you look at your numbers only once a year when they ultimately have such an impact on your daily life?” @FullStopLauren

“Ask yourself what the end goal is for your small business and treat yourself as an account code, as a cost of the business. Future plan for sick pay, pensions, holidays, savings etc” @FullStopLauren

“Profit enables longevity and sustainability. Small businesses can’t rest on our laurels. Having profit allows you to be brave with your business.” @FullStopLauren

“Don’t chase sales. The most important thing to track is your net profits, because without that profit we forfeit our lives for the hamster wheel of doing too much, for not enough” @FullStopLauren