Stay on top of your tax
As a small business owner, it’s highly likely that you’re going to have to pay tax on your earnings. But unless you’re well organised, it’s easy to lose track of what tax you owe and when you have to pay it.
Make sure you keep a diary of the key dates when your tax is due and try to put money aside each month so that you can pay your taxes promptly. Remember – if you file your returns and pay tax, this will not only avoid interest and penalties from HMRC, but will improve your relationship with them. You don’t want to get on the wrong side of the taxman!