Every business needs to keep a record of their income and expenditure. This is called bookkeeping in the accounting world. As soon as you have the intention to start working for yourself, you should keep paper records of every financial transaction.
Many people overlook the importance of bookkeeping until they start receiving demands from HMRC for tax returns. They then start to panic and hand everything over to an accountant, who at this vulnerable time usually charges very high fees to meet your deadlines.
This can be avoided by hiring a bookkeeper who will manage your record keeping for you on a monthly basis and notify you of any issues that may arise.
Here at BKS Bookkeeping Services, not only do we carry out your bookkeeping but we are also able to submit your tax returns on your behalf.