I really wanted to get it done early this year cos it’s so much easier when I remember what everything in my folders is but I’ll probably keep pushing it back
Yeah fair enough, i just get mine to do my return and seems to pay for itself in knowing what i can charge back. Plus i dont end up in prison for being dense, seems for the best.
Sent all my stuff to my accountant last month but not seen the computation yet so doubt the return is in yet.
Cash collection isn’t normally a problem for me as I tend to do transactional work for clients which means money flows through my client account that they are due/ or that they are paying to others, and I tend to top-slice my fee from that. However trying to recover fees on advisory/ non-transactional stuff has been tougher in recent months. There are lots of signs that the Scottish economy is slowing and certainly a lot of clients are telling me that they’re skint! Not so good.
Some of my clients are completely at the mercy of cash flow problems though. Especially the smaller biz/ start-ups. Got a few clients in the drinks sector who have had to pay out lots for materials for stuff they’ll sell at the Edinburgh festival. They’ll make a big profit at the end but until they start selling they are out of pocket and have nothing but stock. I feel for them. I’ll extend my credit terms for them. Regardless of profit, cash is king!
Anyone recommend a good accounting / freelance admin app?
The last tax year (April 2018-April 2019) will have been my first year of self-employment so my understanding is that I don’t actually need to submit anything until Jan 2020 but if anybody knows anything different and knows how many years I’m going to prison for please let me know so I can prepare myself