Keeping a Tax Year Diary for your small business can lighten the load when it comes to filing your tax returns each year. A simple input of daily income and expenses into a well organised log book can save you time and help stay in control of financial transactions on a day-to-day basis.
It doesn’t need to be complicated or worrisome filling out your online tax return. If you have a simple record of your finances, which should be updated every day, the whole process becomes streamlined.
Double Page for Each Tax Week
The Tax year diary is set out with each double page allowing the exact incoming and outgoing transactions that occur within your business. The date for the Tax year in the United Kingdom starts on April the 6th 2022, a Wednesday, and finishes on April 5th 2023, a Friday. These are the exact dates that are represented in the Tax Year Dairy.
Each day has room for the days incoming and outgoing transactions with a balance running total and final figure to record at the end of each week. Simply input the description, or ‘reference to’ details for complete control and accuracy during your tax year business.
Each double page spread has a handy calendar and an area for the weeks notes.
Weekly & Monthly 'at-a-glance' Reference and Final Earnings
Further along in the tax year diary, there are pages with columns to enter the weekly and monthly snapshot of earnings and expenses with totals for easy reference. This will allow you to add the figures together and , hopefully, receive the same amounts. This enables a ‘3’ tier conclusion to be sure your figures match.
After the math’s are done and added together, the final declared earnings can be entered and kept for the day you file your tax return. All being well, those figures are then either entered into your online self assessment account, or given to your tax advisor to complete your return
Self Assessment or Tax Advisor?
Filing your tax return is easier if you run your own business and keep up to date with your incoming and outgoing transactions. Just use the tax year diary to collect financial details throughout the year by making a habit of using the log book on a daily basis.
If, however, you have lots of information to detail, then use this tax year diary as a reference. Simply keep your receipts to ‘tie-in’ with your diary the dates, with brief description, if you plan to use a tax advisor or accountant to complete your return. They will surely thank you for it!
The Tax Year Diary is as follows:
- Size – 7.44′ x 9.69′ inches
- 110-Pages
- Strong Paperback Design
- April 2022 to April 2023
- Glossy Black Cover
- 90 GSM White Inner Pages
- Only Available on Amazon
Tax Year Diary for 2022/2023
Start the tax year off on the right footing and make a habit of completing your financial transactions on a day-to-day basis. With this tax year diary, the process is simple. Just input your incoming and outgoing details in the spaces provided so you don’t forget the little, and often overlooked, smaller transactions.
The log book is a handy size to take with your or leave at your desk. Even if you are part-time, entering figures when they happen will enable you to be in control when the time comes to file your taxes.
The tax year in the UK for 2020/2023 starts on Wednesday 6th April 2022 and ends on Friday 5th April 2023.
To find out more about tax information, go to the official government website to ensure you understand the deadlines and self assessment requirements if you’re self-employed.
If you’re looking for just a simple accounting ledger, then why not take a look at some of our small business financial logbooks on our website.