Starting a new business is incredibly exciting, but there are also a lot of things you need to consider before you take your first step. That’s where we can help.
Over the years we have worked with a wide variety of start-ups, helping them through the tricky initial stages of starting a business to supporting them as they grow.
What do you need to consider?
Before you start a business, there are a number of decisions that you need to make. We are here to help you make the right choices for you and your business.
Choosing a business structure
One of your first decisions should be selecting a business structure that is right for you. We will advise you on whether you should set up as a sole trader, limited company or limited partnership. Each comes with its own advantages and disadvantages, and it’s better to get it right from the outset than to change your mind 6 months down the line. We will then complete all the necessary paperwork and submit it to the relevant authorities.
Understanding the regulations for different business types
Each business type comes with different statutory obligations. We will talk through each with you, so you feel 100% comfortable with what you need to do, how often and by when.
We will advise you whether you need to be VAT registered and which scheme would be right for your company.
HMRC and Companies House
Depending on which business structure you choose you may have to register with HMRC, Companies House or both. We will advise you and complete any necessary registrations.
We will advise you at what point you will need to register for PAYE and the options available to you for handling payroll.
Managing your bookkeeping
Keeping detailed records of your income and expenditure can seem daunting, but get it right from the outset, and the process is a lot easier. We will talk through the different options available, including the various packages you could use or employing us to manage your bookkeeping for you.
For a limited company it’s a legal requirement that you have a registered office. Many people don’t want to use their home address, so we can act on your behalf and deal with any junk mail and forward any relevant correspondence, freeing up your valuable time and resources.
Once your business is up and running, we can take care of a number of accountancy tasks allowing you to concentrate on growing your business. These include:
- Completing and submitting confirmation statements and statutory accounts
- Managing your corporation tax returns
- Completing self-assessment returns
- Completing VAT returns
- Taking care of your bookkeeping
- Managing your payroll and auto enrolment
If you are planning on starting a new business, give us a call today for an initial chat about how we could help you.