By Stuart Kerr, Partner — BookkeepingPackages Ltd.
Published: 28 Oct 2025 | Updated: 28 Oct 2025 • Contact: support@bookkeepingpackages.co.uk
As one tax year closes, another begins—and what you do now will set the tone for the months ahead. The new tax year is the perfect time to refresh your bookkeeping, review your finances, and make sure your systems are running smoothly. A few smart steps in April can make the next twelve months calmer, clearer, and far more efficient.
Start by closing out the previous year cleanly. Reconcile every bank account and credit card so your closing balances match your records. This ensures the figures you carry forward are accurate and your reports reflect the real financial position of your business. If you use cloud bookkeeping software like Xero or QuickBooks, download and save year-end backups—good housekeeping now prevents data headaches later.
Next, review your chart of accounts. As your business evolves, some categories may no longer fit. Streamlining your bookkeeping structure keeps reports meaningful and avoids confusion when reviewing performance mid-year. Our clients at BookkeepingPackages.co.uk often find this simple update improves clarity instantly.
Now is also the time to review recurring payments and subscriptions. Cancel anything unused and check supplier costs—small savings repeated monthly can make a real difference by year-end. For sole traders, take a moment to separate business and personal expenses fully; clear boundaries make Self Assessment faster and reduce the risk of HMRC queries.
Set fresh financial goals. Your bookkeeping isn’t just about compliance—it’s your decision-making tool. Use last year’s data to forecast income, expenses, and profit targets for the new year. A simple cash-flow forecast for small businesses helps anticipate slow periods and plan for growth, while automated dashboards in cloud systems show progress in real time.
Finally, schedule your routine. Whether you do it weekly or monthly, consistency is what keeps bookkeeping stress-free. Reconcile, categorise, and review reports at regular intervals, not just at tax time. Our fixed-fee plans are designed to help businesses stay on top of their books year-round, with reconciliations, VAT support, and easy-to-read summaries that make every quarter predictable.
If you’d like help setting your business up for the new tax year, visit www.bookkeepingpackages.co.uk or email support@bookkeepingpackages.co.uk to book a free discovery call. (This article provides general information only; for specific tax or accounting advice, please consult a qualified accountant.)
About the Author
Stuart Kerr is Partner at BookkeepingPackages Ltd. An entrepreneur who has worked closely with bookkeepers and accountants across multiple ventures, he now leads a team providing dependable, fixed-fee bookkeeping for UK sole traders and SMEs. His mission is to help business owners begin each tax year organised, informed, and confident.
Image Filename: new-tax-year-bookkeeping-UK.webp
Image Title: Preparing for the New Tax Year UK Bookkeeping Checklist
Image Alt: UK business owner reviewing cloud bookkeeping reports and updating accounts at the start of the new tax year.
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