What Records Do I Keep As A Self Employed Person

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Record keeping: good for us, good for your business

Keeping records makes sound business sense. It may seem like a challenge, particularly when you're starting out, but keeping good records will bring real advantages to your business. Get a proper system in place from the outset, and update the information regularly.

Keeping good records

helps you avoid paying too much tax and makes filling in your tax return easier and quicker
avoids interest and penalties by making it easier to pay the right tax at the right time
gives you the information you need to manage your business and help it grow
makes it easier to get a loan
helps you budget for tax payments
helps us to check your tax position accurately
could help reduce your accountant's fees if you use one - well-organised information saves them time, too
may support your claims to some reliefs or capital allowances.
It makes sense to do it properly and make it as easy for yourself as possible. We can help you do this. If you have an accountant you might want to get his or her advice on what system suits your business and on how to keep your records up-to-date.

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