For many entrepreneurs and business owners, January’s self assessment tax deadline is one that causes panic. Are your books in order? Have you sent everything over to your accountant? And just how much tax will you have to pay?
If you need a reminder of the deadlines for the tax year spanning 6th April 2017 to 5th April 2018, you need to:
Complete your online tax return by Midnight on 31st January 2019
Pay the tax you owe by Midnight on 31st January 2019
Of course, you may already be organised, and even enjoy managing your company accounts! Accounts can be seen a quantifiable reflection on how well your business has done, and if maths is your friend, managing these can be a rewarding task across the year. If you know in your heart that accounts isn’t a strong point for you and prefer to steer clear of maths, then in this case delegation and support from others can certainly help.
Whatever your attitude to self assessment, and the state of your company accounts, it’s also important to reflect on the internal successes. Now’s a great time to do just that!
Reflect on your entrepreneur journey
In December, we shared our free entrepreneur reflection exercise that will help you to review your personal and professional progress.
If you haven’t followed this exercise already, it may be worth applying it to the last financial year. Look back over your year in finances and review how you felt during your busiest months, what you did during the slower months, and what you could do to improve the management of your mental health alongside your business.
As we say, a happy mind makes for a happy business, so if you feel like there’s room for improvement, it may be worth pursuing our digital wellbeing training course or coming along to one of our events.
Burnout, no more
If burnout threatened your mental health and your business at times, join in with The Reignite Project. This is a free 10-week course aiming to reduce burnout in 600,000 entrepreneurs and business owners by 2023, and quash the taboo of taking time for yourself when your business feels like the top priority.
Appreciate how far you’ve come
It’s incredibly easy to only focus on moving forwards, especially in business. However, it’s important to also appreciate your present situation, and look at how far you’ve come.
What achievements or growth did you experience in your last financial year? What obstacles did you overcome? And how did you reward yourself? We would love to hear your stories in our Entrepreneur Community!