The completion of the annual business tax return comes as a major relief to us all, often with a heartfelt, ‘Thank goodness I don’t have to do that again for another year!’ However, the discipline of completing the annual tax return does have benefits apart from hopefully saving you tax: The process makes you assess another year’s income and expenses and can, with some editing, measure your business’ financial performance. It becomes even more valuable if you look at this edited income and expense trends over a number of years. In fact, as a tax return is the only legal [...]