Seven things to do before your financial year ends to reduce your tax bill.

Year-end accounting can feel overwhelming, but with the right steps and support, it becomes an opportunity to gain clarity and prepare for future growth. At KINAIE LTD, we help small businesses confidently navigate year-end accounts with a straightforward approach.

“Don’t dread the year-end—KINAIE LTD helps small businesses wrap up smoothly and stay compliant.”

Here’s a simple guide to help you stay on top of it:

1. Organize Your Financial Records

  • Ensure all income and expenses are accurately recorded.
  • Collect all receipts, invoices, and bank statements.
  • Reconcile your bank accounts to match your books.

2. Review Your Expenses

  • Check for any missing or unclaimed expenses.
  • Identify allowable expenses to reduce your taxable profit.
  • Separate personal and business spending clearly.

3. Prepare for Tax Obligations

  • Understand your obligations (corporation tax or self-assessment).
  • Estimate your tax liability ahead of deadlines.
  • Consider setting aside funds for upcoming payments.

4. Update and Check Your Fixed Asset Register

  • Record any new equipment or assets acquired during the year.
  • Review depreciation and disposals for accurate reporting.

5. Run Year-End Reports

  • Generate a profit and loss statement and balance sheet.
  • Review financial performance and identify areas for improvement.
  • Use insights to inform your strategy for the next financial year.

6. File On Time and Stay Compliant

  • Submit accounts to Companies House and HMRC (if applicable).
  • Meet deadlines for VAT returns, payroll, and pensions.
  • Avoid penalties by planning early and seeking support.

7. Seek Professional Support

  • Working with an accountant ensures accuracy and compliance.
  • At KINAIE LTD, we provide year-end reviews, filing services, and personalised tax-saving advice.

The year-end is not just an admin task—it’s a checkpoint for growth. With our expert help, you’ll not only stay compliant but also make smarter financial decisions moving forward.

Need help preparing your year-end accounts? Let’s talk.