Let’s be real, tax season creeps up on us fast. One minute you’re smashing your business goals, and the next, your inbox is flooded with HMRC reminders and you’re knee-deep in missing receipts.
If just reading that gives you a knot in your stomach, you’re not alone. But here’s the truth: waiting until the last minute to sort your finances is costing you far more than a bit of stress. Here are the top 3 reasons why:
- You’re probably missing out on claims
When you rush, things get missed, it is simple as that. You might forget about that fuel receipt stuffed in your glove box or that annual subscription you forgot you had. Each forgotten detail could have saved you money.
- You might be paying more tax than you need to
Without a clear view of your income and expenses, you’re working off guesswork. Guesswork can lead to overpaying, or even worse, a surprise bill you didn’t see coming.
- You’re living with low-level financial stress
We see it all the time, the quiet, constant anxiety that bubbles away when you know your books are a bit of a mess. It’s not just about numbers. It’s about peace of mind.
Here’s the fix: start with a quick spring clean
You don’t need a massive overhaul. Just a few simple actions can make a world of difference. Change your mind set by simply thinking “little and often”.
Why not try these five simple steps:
- Reconcile your bank – Match your transactions with your records. It takes minutes and it’s surprisingly satisfying.
- Send that invoice reminder – Unpaid invoices can have a major impact on finances. A gentle nudge now gets cash flowing back in sooner.
- Review your subscriptions – Still paying for items you don’t use or forgot about? Cancel them and pocket the difference.
- Check your profit first pots – If you’ve started profit first, take a minute to see if your money’s doing what you want it to.
- Book a money date – Pop 30 minutes in your calendar each week or month for a regular check-in. Your future self will thank you.
Final thoughts: Progress, not perfection
You don’t need to love bookkeeping (that’s our job). But tackling it a bit at a time, before things pile up, will save you money, stress, and sleepless nights.
Need help getting started? That’s what we’re here for. At Stepping Stones Accountancy, we make money make sense. No jargon, no shame, just simple steps toward clarity and calm.
To find out more please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 20-minute call with Yarka – https://calendly.com/yarka-ssa/20min
