Whilst their intentions are good, you know how the story goes.

The year starts strong, finances are tidy and on top of. Slowly but surely, work picks up, the weeks get busy and processes get slack.

The bank balance looks fine, so nothing feels urgent. Tax gets left for later. The numbers are there, but not always looked at closely. It’s not usually down to anything complicated. In most cases, it comes back to a handful of habits that are set early then forgotten about, or not set at all.

We’ve partnered with accounting experts, Charterwells, to share 5 good habits you can adopt (and keep) in the 26/27 tax year.

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1. Set an accurate financial target for the year

Most businesses start the year with a revenue goal, but don’t build it around what they need to take home, what the business needs to pay for, and how cash flows month to month. Not to mention planned growth or investments.

Start by deciding what the business needs to deliver this year, your revenue target. Then, how much cash reserves you need. From there, you should set a profit target.  

Once they’re set, you’ve got something to measure against. Otherwise, decisions get made off the back of the last month.

Remember, targets should always be Specific, Measurable, Attainable, Realistic and Time-bound. For example, ‘To increase new business revenue from 10% to 15% by April 2027’.

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2. Get clear on your cash flow (what’s coming in and out)

There’s usually a rough sense of cash, but not a clear view of what’s in the bank, what’s going out each month, and when money is coming in (and how secure that is).

A three-month view is usually enough to see where cash starts to misalign. Map out:

• Expected income over the next three months

• Known costs and committed spend

• When payments are likely to come in and go out

The detail that matters is timing. It’s common for money to leave before it comes in, or for invoices to land later than expected. Work that looks close in the pipeline doesn’t always convert when you think it will.

In 2026/27, make sure you have a clear and simple view of what is coming in and going out of your business each month so spend can be delayed, payments chased and terms tightened when needed.

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3. Regularly review your pricing and margins

Pricing has long been a challenging area to navigate, even without the external factors businesses currently face. So how can you get this right without outpricing yourself and still protecting your margin?

Take a step back and look at how the business is making money. Focus on what’s left after the work is delivered, not just what’s being charged.

It’s possible to stay busy and still see very little return from certain jobs. Some work brings in revenue but leaves almost nothing behind once time, delivery and overhead are taken into account.

A full breakdown isn’t needed to spot this. A simple review will usually show where margins are tighter than expected, or where certain types of work are doing more of the heavy lifting.

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4. Don't leave your tax bill to the last minute

Tax is one of the largest outgoings but is often left until later. Without a rough view of what’s building and when it’s due, it creates pressure when payments come around.

Your best bet? Set money aside as revenue comes in. A fixed percentage each month is usually enough. Leave it too late and it builds into a number that’s harder to cover.

It also shows what the business is actually generating. Profit on paper isn’t the same as what’s available to spend once tax is accounted for.

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5. Start the year with clean, reliable financial data

Messy or inconsistent records tend to get carried forward. This makes it harder to understand performance and can lead to decisions being made on incomplete or unclear information.

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Final thoughts

Habits are only formed when actions are done consistently. Most of these jobs don’t get missed intentionally, they get missed because the year gets busy and attention moves elsewhere.

“The one that catches most business owners out is number four — tax planning. It’s the largest predictable outgoing of the year and still the one left latest. Simple fix: treat your tax provision like a direct debit and move it the day revenue lands. Great piece from the Ferrock team.” Mitul Pandya - Founder of Charterwells

Not every business has a full-time finance hire to stay on top of this day to day, but that doesn’t mean it has to be left unmanaged.

With the right support in place, whether that’s your accountant or a fractional FD or CFO, these habits become much easier to maintain. You’re not just keeping things up to date, you’ve got a clearer view of what’s happening and what needs attention next.