Choosing a year end

Be tax efficient when deciding a year end date.

One of the things to consider when starting a business in the Cambridge area is choosing the best date for your year end. Prentis & Co 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 a start-up business in the Cambridge area and would like help with choosing your year end, contact Prentis & Co.

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Limited Liability Partnership No. OC 333362 Registered in Cardiff. Prentis & Co LLP is registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.