I want to talk about loving your business. Now I’m a male, Yorkshire, Chartered Accountant so the rule is I can’t talk about my feelings (or have any?!). Rules are made to be broken! In the last paragraph there is a quick checklist of things you might want to do before the tax year end.
Can I honestly say I’ve loved my business? Simple answer, NO!
Now don’t get me wrong, I’m proud of our achievements, I like what we do, sometimes I even feel like I want to go to the office. The truth is I’ve always felt that my business is getting there. If I work on it a bit more, if I do this or that, I will have a business I can love.
I’ve worked it out.
- I’m there, these are the best years of my life. Getting there is nonsense we are all there.
- I can’t love my business (or anything else) unless I love myself. An old fashioned truism but no less true.
The second of these is harder to achieve because, like most people, I have loads of baggage that stops me loving myself, but I’ve worked out how to deal with that. I spend 40 or 50 hours at work each week…..it is going to be a labour of love. I can put my hand on my heart and say I’m doing 1) AND 2). I hope you are too.
- Use your ISA Limit.
- Consider using pensions (likely to be changed in the budget so act quickly).
- Check out your capital gains tax position.
- Employ a family member?
- Gifts to charities?
- Make gifts to avoid inheritance tax.