One of the most important things in business is to be organised.
By law you must keep business records for at least five years and ten months after the end of the tax year the records relate to. Failure to maintain or retain the records can result in fines of up to £3000.
There are many ways to keep records using desktop or online software, mobile phone apps or even just a shoebox full of receipts.
The exception to this is if you are VAT registered as the new "Making Tax Digital" initiative requires computerised records to be kept.
If you need help with online software or want to find out how your business can benefit from using it, get in touch with us today.