End of Financial Year 2019
What do you need to get ready for the end of financial year?
Are you struggling with getting your head around what you need to do and when for the end of financial year? You might be a newbie to business or been around a while but we want to cut down the year end noise and offer a nice, calm place for you to tick those end of year boxes.
Year End 31 March 2019 Tax Return and Financial Statements need to be filed with the Inland Revenue before 31 March 2020 if you have extension of time. If you have lost extension of time due to overdue returns then your Tax Return needs to be filed by 7th July 2019!
Things you need to know to get prepared for year-end:
- We recommend as you start to receive bank statements, interest certificates, mortgage interest and the like that you start filing them into a folder. This will allow you to be on top of things from the beginning.
- Please take the time to read through the attached checklist. This will guide you through gathering together the necessary source documents needed to prepare your Financial Statements and Tax Returns. Please make sure you answer the questionnaires carefully with as much detail as possible.
- Our turnaround time is six weeks from when we receive all source documentation and signed your service agreement. Please indicate if you have a level of urgency in completing your Financial Statements and the reason why.
Last but not least; if you can’t find information, please let us know as soon as possible so we can help you get that sorted.
Online accounting software certainly makes everything more efficient and smoother but we still need to check some information and gather together source documents so we can verify transactions. Electronic or paper forms are both acceptable.
Time is money so when you receive a request for more information it’s best to action it as soon as you can – 2 days maximum because speedy responses reduce costs.
So, as they say, there’s no time like the present. Block out some time, start gathering what you have, read our checklist and make note of exactly what you need to do. We know you’ve got this all under control!