Is the new tax option right for you? Probably not! Yes, I’m serious. This new pay-as-you-earn option of paying your provisional tax almost got it right, but not quite. The concept is good but it’s really not a whole lot different to the ‘Ratio’ method which crashed and burned only a few years ago!
Being an exacting accountant, with all those horribly strong type-A personality traits, it almost hurts me to say this but one of the biggest mistakes I made when starting out was not realising that business isn’t about doing a great job or working incredibly hard. Yes, those things are really important but not the most important.
What I’ve come to realise is that business is more about the stuff in between; the keeping everyone happy stuff! From explaining to customers why you’re worth it to tactfully dealing with incompetent staff and suppliers (because let’s face it, the good ones take care of themselves, don’t they). Communication skills and relationship building are huge. It’s almost as if you have to become a professional Happy-Maker!