Finance

Closing Your Financial Year

Practical step-by-step checklist for closing your financial year, reconciling accounts, and preparing for your tax return.

⌛ 4–12 hours ✓ 16 steps Intermediate
0 of 16 completed — 0%

1 Revenue & Sales

  • Include all invoices paid, cash sales, consulting fees, rental income.

  • Identify any bad debts that can be written off.

2 Expenses & Costs

  • Travel, office, marketing, subscriptions, professional fees, etc.

  • Use Revenue civil service rates.

  • Claim a proportion of heat, light, broadband for business use.

3 Tax Planning

  • Contributions made before the filing deadline can reduce tax for the prior year.

  • 90% of current year or 100% of prior year — whichever you prefer.

4 Filing & Archiving

  • 31 Oct (paper) or 14 Nov (ROS) for individuals. 9 months after year-end for companies.

  • Keep all records for 6 years minimum.

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