Advantages of synching business and tax years ends

[MarkP]

My account told me that it would be avantageous for me to synch my business year end with the tax year end. When I asked him why, his answer was less paper work!!! I think I need a new accountant.

Can anyone give me a bit more info on the advantages of the above?

[jfarley]

It sounds to me as though he wishes to get paid the same for less! Is he not just hoping for the perfect job there, Even if they do syncorinise its the same ammount of paper work, just its easier to follow the books having them aligned.

Jamie

[Parin]

Agreed, there should be no financial / tax benefits if your dates were aligned. Ive checked with my accountant who confirmed this, and added that the only reason she had come across to change year end was if you needed more time to compile your accounts as they were in a big mess!