TAX RETURNS MADE SIMPLE FOR LIMITED
To prepare tax returns
what records should I keep?
You must keep accurate business records, if you don’t then you may have to pay a penalty. You need to make sure that you regularly update your records and store the information securely. You will need the information from your records to complete a tax return. You can decide how to keep your records; you might choose a computer software package or prefer to use a paper record book. Whatever you choose, get something in place as soon as you start working for yourself. To help small businesses with record keeping on the go, ABS have dedicated software that clients can log in remotely to produce a simple record and also help them keep tracks of all their files.