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The UK Founder's
The UK Founder's
Finance Checklist
Every number, date and habit that keeps a small business out of trouble — on one page. Bookmark it, print it, stick it above the desk.
1Know your five numbers
- Cash in the bank right now (not roughly — exactly)
- Money owed to you, and the oldest unpaid invoice's age
- Money you owe (suppliers, VAT, tax, card balances)
- Monthly break-even: what it costs to open the doors each month
- Gross margin on your main product or service
2Build the cash-flow rhythm
- Check the bank balance every working day (30 seconds, builds the instinct)
- Invoice the same day work is done — not at month end
- Chase every invoice the day it goes overdue, politely and automatically
- Keep one month of running costs as a buffer before taking bigger drawings
- Know your VAT and tax money is not your money — move it to a separate pot
3Price like you mean it
- Review prices at least once a year, on a date in the diary
- Know your effective hourly rate after ALL hours worked, not just billable ones
- If nobody ever pushes back on a price, test raising it
- Cost every job AFTER it's done occasionally — estimates drift
4Never miss the dates
- 31 January — Self Assessment balance + first payment on account
- 5 October — register for Self Assessment after your first trading year
- VAT: watch rolling 12-month turnover vs the £90k threshold, monthly
- Sole trader over £50k? Making Tax Digital quarterly reporting from April 2026
- Limited company: accounts due 9 months after year end, CT payment also 9 months (+1 day)
5Keep the records boring
- Business and personal money in separate accounts, no exceptions
- Receipts captured digitally the day you get them (app, not shoebox)
- Reconcile the bank monthly — 15 minutes, calendar it
- Payroll: RTI filed on or before every payday, pension contributions on time
6Know when to get help
- DIY is fine until the admin costs more than the help would
- If you haven't looked at your numbers in 60+ days, that's the signal
- A good accountant should save more than they cost — if yours doesn't, change
The honest bit
Want someone to do the boring half for you?
Business Stuff is run by the team behind Buzz Accounting — fixed-fee accounting for UK founders, no jargon, no lectures. A free 20-minute call tells you whether we'd actually save you money. If we wouldn't, we'll say so.
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