Can you believe we’re already in November? The year is flying by, and before we know it, we’ll be welcoming 2025 with open arms (and probably several glasses of champagne). 

But before you get too caught up in the Christmas madness, let’s talk about something important: your finances.

The end of the year is prime time for making sure everything is in order, tying up loose ends, and laying the groundwork for a successful year ahead. 

Whether you’re a seasoned business owner or just trying to get your personal finances in check, here’s a handy guide on what to do with your finances before the new year rolls in.

1. Wrap Up Your Self-Assessment (Because It’s Almost Overdue!)🎁

Let’s start with the elephant in the room: your self-assessment. If you haven’t already submitted it, stop reading this post and get cracking! 

The deadline is fast approaching (31st January for online submissions), and leaving it until the last minute is a surefire way to give yourself a festive headache. And make your accountant hate you… (kinda kidding, kinda not)

Make sure all your records are up to date, expenses are logged, and income is properly reported. 

If you need help, give us a shout—but be quick!

2. Review Your Cash Flow and End-of-Year Budget 💷

November is the perfect time to review your cash flow and see how your finances have shaped up over the year. 

Take a look at your income, expenses, and where your money has been going. This will help you get a clear picture of your financial health as you head into the final month of 2024.

Have you stayed on budget? If not, where did you go off track, and what can you adjust in the coming year? Take note of any recurring expenses or costs that you might be able to reduce or cut entirely as you start planning for 2025. 

On the flip side, celebrate what has gone well and look at where you’d like to invest more in 2025 to bring you closer to your business goals.

Knowing exactly where your money is going will give you a head start on setting smarter goals for next year.

3. Chase Up Any Outstanding Invoices 🏃

No one wants to start a new year with unpaid invoices lingering like that leftover Christmas turkey. November is a great time to chase up any outstanding payments and make sure your accounts receivable are in order.

Send polite reminders to clients with overdue invoices and get those payments in before the year ends. 

A tidy set of books heading into December is always a good idea, and you’ll have a bit of extra cash flow for any last-minute business investments or holiday cheer.

4. Maximise Tax Deductions and Year-End Spending👌

There are some smart moves you can make to maximise your tax deductions and ensure you’re taking full advantage of the opportunities available to you. 

For example, if there’s any essential business equipment or expenses you’ve been holding off on, now might be the time to go ahead and make those purchases.

Any eligible expenses you can deduct will reduce your taxable income for 2024. Think about things like office supplies, software subscriptions, or even professional services (hello, ChadStone!). 

And if you’re thinking of making any charitable donations, doing so will also help you with tax relief.

5. Review Retirement Contributions 📈

If you haven’t been keeping up with your pension or retirement contributions, now’s a good time to review where you stand. 

Make sure you’re maxing out any contribution limits where possible, as this can also help with tax savings and ensure you’re setting yourself up for a financially secure future.

Check with your accountant or financial adviser and ensure you’re making the most of your allowances.

6. Set Financial Goals for 2025 🥅

Once you’ve got your 2024 finances in order, it’s time to think about the future. What do you want to achieve financially in 2025? This is where goal-setting comes into play.

Whether it’s increasing revenue for your business, paying down debt, or growing your savings, set clear, specific, and achievable goals. 

Think about what worked (and didn’t work) this year, and use that information to create a solid financial game plan for 2025. 

Here’s a tip: break your big goals down into quarterly milestones. This makes it easier to track your progress and adjust if needed. Plus, it’ll help you stay motivated throughout the year.

7. Meet with Your Accountant (That’s Us!)👋

Book in a chat with your accountant to review your financial situation and goals for the new year. We can help you look at your tax liability, identify any areas where you can save, and make sure everything’s squared away.

It’s also a great opportunity to talk strategy for 2025. Whether you want to expand your business, optimise your taxes, or just get a better handle on your day-to-day finances, we’re here to help you plan and make informed decisions for the year ahead.

So, there you have it! Seven key things you can do with your finances before the end of the year to make sure 2024 wraps up neatly and you’re ready to hit the ground running in 2025.

From sorting out that self-assessment (seriously, do it now) to setting goals for the future, getting your financial ducks in a row in November will save you a ton of stress in December—and set you up for a strong start next year.

And as always, if you need help with any of the above, the team at ChadStone Accountancy & Tax is here to lend a hand. Let’s get those finances sorted and make 2025 the best year yet!

Dave, Al and the ChadStone Team

IN THE MEANTIME, HERE’S SOMETHING FOR YOU…👇

• Get the latest finance tips, business hacks, free resources, hilarity, memes and more by joining our monthly newsletter, ‘Sumthing To Say’ here.
• Do you need your accounts taken care of for you? You can Book a Discovery Call here.

It’s getting colder and greyer (apparently that’s possible?!), your children are back at school and you’re receiving less out of office responses than you have in weeks. 

That can only mean one thing, the summer holidays are over and it’s time to get back to it.

With this being the case, coming back to the working world after the summer holidays can feel alien/overwhelming/exhausting (insert your own adjective here).

Whether you’re excited to get back into it or are having a daily battle snoozing your alarm, we’re here to give you some tips to get you back in the groove after the summer holidays…

1. Ease Into Your Routine—No Need to Dive Straight In 🏊

You’re not a machine, and getting back to work doesn’t mean jumping in at 100 miles per hour. You’ve just come back from holiday, not a marathon. 

Start slow—rebuild your routine like you’d rebuild trust with that snooze button (slow and steady).

Set your priorities, and tackle the big stuff first. 

Maybe it’s catching up on emails or having a quick team meeting, but don’t overload yourself on day one. It’s not about winning a productivity contest; it’s about getting back in gear. Before you know it, you’ll be back to cruising speed—minus the stress sweats.

2. Set Fresh Goals—Because We’re All About the Fresh Perspective Here 😉

You know that “New Year, New Me” feeling? Well, think of this as your post-summer business reboot. 

Take a step back and think about what you really want to achieve for the rest of the year. We’re not talking about those vague “do better” goals—we’re looking at actionable, measurable stuff.

Pick three solid goals to focus on. 

Maybe you want to ramp up revenue, launch that side project you’ve been putting off, or finally tackle the Mount Everest of paperwork on your desk. Keep it simple and clear so you don’t end up overwhelmed again in a few weeks.

3. Declutter Your Space—And Maybe Your Brain Too 🧠

Chances are, your desk (and probably your brain) look like they’ve been hit by a summer storm. 

It’s time to declutter. Clear out the old coffee cups, file away those papers that have been building up, and tidy up that email inbox that’s currently giving you palpitations.

Bonus tip: while you’re at it, why not declutter some of your processes too? Streamline where you can. Look for tasks that can be automated or apps that can help organise your chaos. It’s the equivalent of a digital detox—just less painful.

4. Reconnect With Your Team and Clients—Without Being a Robot 🤖

So you’ve been MIA, but now it’s time to re-engage. Start with your team—schedule a catch-up, have a laugh, and then get serious about what needs to be done. This is your chance to realign everyone’s focus and set the stage for what’s coming next.

Then, reach out to your clients. A simple, “How was your summer?” can do wonders to rekindle relationships. It’s not all about business—people appreciate a little humanity, and it shows you genuinely care. 

Plus, who doesn’t love talking about their holiday adventures?

5. Review Your Finances—Don’t Look Away Now 🫣

Ah yes, the financial check-up. It might not be as fun as reliving your summer holidays, but it’s essential to making sure your business stays on track. 

Take a moment to review your cash flow, budget, and any financial goals you set earlier in the year. 

If your summer spending was a little more “YOLO” (sorry!) than “responsible business owner,” don’t panic. It’s not too late to course-correct and make the final stretch of the year financially successful. 

And of course, if you need a little help or a good ol’ pep talk about your numbers, you know where to find us.

6. Prioritise Wellbeing—Because Burnout is So Last Year 🧘

Remember, you don’t have to go from holiday mode to “hustle till I drop” mode. 

Yes, it’s tempting to dive back in with full force, but burning yourself out isn’t part of the plan. 

Make time for yourself, whether that’s going for a morning walk, squeezing in a workout, or even taking a proper lunch break away from your desk.

You’ve just had a lovely holiday, so let’s keep that chilled-out feeling going, shall we? A happy, healthy business owner makes for a happy, healthy business. Simple as that.

7. Be Patient—Rome Wasn’t Built in a Day, and Your Post-Holiday Mojo Won’t Be Either 🛠️

Let’s face it, getting back into the groove isn’t going to happen overnight. You’ll probably feel a bit off-kilter at first, but that’s totally normal. 

Don’t rush it—just take it day by day, focus on small wins, and slowly ramp up your productivity.

Before you know it, you’ll be back in the rhythm of things, knocking out tasks like a pro, and wondering why you ever worried about getting back into the swing of work after your holiday.

So, welcome back to reality. 

With these tips, you’ll not only regain your routine but also start pushing your business forward in no time—without losing your sanity. 

And remember, if you ever need a little extra guidance (or a game of pool to clear your head), the team at ChadStone Accountancy & Tax is always here for you.

Here’s to getting back on track and smashing the rest of the year!

Dave, Al and the ChadStone Team

IN THE MEANTIME, HERE’S SOMETHING FOR YOU…👇

• Get the latest finance tips, business hacks, free resources, hilarity, memes and more by joining our monthly newsletter, ‘Sumthing To Say’ here.
• Do you need your accounts taken care of for you? You can Book a Discovery Call here.