At the start of the month, HMRC revealed that around half of the 12.2 million UK taxpayers who need to submit a tax return by the 31st January have yet to do so. With the deadline looming, over five million business owners are wondering how to make the process of filing their tax return as easy and efficient as possible. But, with recent research showing that one in ten entrepreneurs stores their essential financial documents in a drawer or shoebox, chances are the process of filling out your tax return is causing some stress.

Managing your finances is the most important task to understand as a new business owner, but if you’ve never needed to keep accounts before it can seem like a daunting task. However, by following a few simple steps, you can ensure your accounts are precise and your finances are aligned with your operational goals.