In the last budget the Chancellor George Osborne said he will scrap the annual self-assessment tax return and replace it with a 'digital tax account' from early 2016.
At some point in your business career you will almost certainly have to produce a Cash Flow Forecast, which shows (and/or predicts) the flow of cash in and out of the business.
If you’re a business owner you will presumably already know that you have to pay income tax (based on the drawings you’ve taken from the business) as well as tax on company profits (corporation tax). Income tax is paid via self-assessment and the deadline is looming!
As your business grows you will probably want your accountant to move beyond just crunching the numbers and keeping HMRC happy, into a management accounting role.
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