Helping you build a business that lasts
Starting a business from scratch is an exciting step in your career. Whether you’re setting up your own limited company, working as a sole trader or forming a partnership, you’re showing your ambitious, entrepreneurial side to the world for the first time.
One thing you may not realise, however, is just how indispensable accountants for startups can be in the early days of your new venture.
There’s lots to consider. Registering your company, understanding your tax obligations to HMRC, and planning your long term goals are all essential when you first start out. Thankfully, we’re here to help.
Understanding your business
No matter how much research you carry out before opening your doors, there may be elements of your business that you don’t fully understand. While your accountant might not be the first person you’d think of going to for business advice, you might be surprised at how effective we can be.
Our financial expertise can also come in useful when it comes to drawing up financial statements and other documentation such as:
- business plans
- cashflow forecasts
- balance sheets
With a firm grasp on each of these areas, you’ll have a better chance of gaining financial control from the beginning – mitigating any undue stress as time goes on.
Taking control of your taxes
Your liabilities will vary depending on the business structure you settle on. If you work as a sole trader, you’ll have to pay income tax on any profits your business makes (because your business’s money is your money).
As a limited company, you’ll pay corporation tax on any profits, as well as income tax on any profits you extract as salary or dividends.
Then there’s VAT. If your business turnover exceeds the annual £85,000 threshold, you’ll need to register and charge VAT on the goods and services you provide.
While this all sounds complicated and overwhelming, we can draw up a tax plan to ensure you don’t pay a penny more than you should, while helping you meet your obligations to HMRC.
We believe in businesses like yours. In fact, we do everything in our power to help our startup clients build a business that lasts. What’s more, we’re in it for the long haul, so we won’t leave you to your own devices once you get set up. We’re here to offer continued support whenever you want it.
Our team will be on hand to answer any questions you may have about your business’s finances and performance, offering you insight along the way.
To talk about what you need, just drop us a message, and we’ll be right with you.