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Tax .... fear & loathing at the accountants


Why does this word always strike fear into the hearts and minds?  For someone who likes to always be very organised - this one is a big FAIL for me.  I am trying to examine why this is so?

Every year, just after the last tax return is done, I get all enthusiastic and organised and start putting aside all the things I will need for the following year.  After about the second month of this, it all kind of runs away with me, and before I know it, its that time of year again and all my best laid plans are stopped at August.  I now need to wade through forests of paperwork, find statements, lease documents, payroll summaries, capital and asset purchases, balance sheets, P&L reports, general ledgers ... and on and on it goes.

Of course it doesn't help at all that as a business, and business owners, we have an extension to March the following year.  No matter what the deadline, I always feel ill prepared, totally out of my depth and approach the whole process with dread.  Why?

We are very behind in the returns - still haven't done the 2010/11 which we have an extension for, but was originally due March 2012. Now the 2011/12 is looming as well, due in March 2013 - but the accountant said we may as well do it now and get it out the way.  I think we are owed some tax back, which is lovely, but also why we got the extension.  The Tax department are very nice with extensions when they owe you money, but not so nice when its the other way around.

Today is operation get organised - so my goal is by 6pm tonight to have it all collated, and ready for our meeting tomorrow.

Wish me luck!

PS: Anyone spot the obvious procrastination ploy here?

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