I Have Done My Tax Return, Now What?

I have done my tax return, now what?

 

So the first thing to do is to congratulate yourself.

 

Completing your tax return, or doing the figures, is an accomplishment to be celebrated.

 

So Congratulations.

 

Secondly, grab a nice cup of tea or whatever your prefer, get your figures out and have a look at them.

 

So what we are looking at, is from a numbers perspective.

You know how the year went, you were there.

Now we are looking at, what was the result of all that, in numbers.

 

If you get your figures out and look. What worked? What went well? What made money?

 

Second question, what didn’t work? What didn’t make money? What did you think was going to work but didn’t?

So essentially, What worked? What didn’t work?

 

Lastly, now you know that.

What are you going to do differently this year?

That can be really useful to look and one of the reasons to do your tax return in April.

 

What would you do differently this year, having looked your figures?

 

The very last thing to do, is to take your figures and put them conveniently in a file. I have one here marked tax.

 

The idea is to put your figures somewhere you can find them.

 

The other thing I do for the more advanced users is at the front of my file, I list how much tax I have to pay, so I know in January.

Also so I can look at a glance how much tax I have paid over the last few years. It is really handy.

 

That’s it, Congratulations.

 

Doing this now will save you so much time and money next year.

 

Thank you for watching.

 


Relaxing Tax Returns

 

Relaxing Tax Returns

 

I am always looking for ways to feel good around money.

 

One of the surprising ways I have found is, yes I know, doing my tax return in April.

 

One of my clients turned up and she was so relaxed and calm.

 

I asked her “how come?” and she said “I have just done my tax return.” and I thought yes, I would like that feeling.

 

I have done my tax return in April ever since.

 

Now you could be one of the half a million people who wait until the very last day, 31st January, to do your return.

 

Or one of the 2000 people who do it on Christmas Day – not sure about that.

 

Personally, I like to get to the end of the tax year, gather everything together and do my figures.

 

Then start the new tax year fresh.

 

Not worrying I am going to find a receipt in 18 months’ time and trying to think ‘what on earth was that for?’.

 

Sometimes I pay at the same time, if it is a small amount.

 

Mostly I put a few reminders in my diary, not to spend the money at Christmas and to pay in the New Year.

 

Thank you for watching.