Business Startups

Company Startsup & Business Formations


Financial Employee

Business Startups

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It is widely recommended that a business should engage an accountant before it starts trading.

If you engage an accountant in the conception stage of your business they can help you to choose the right format for your business, make sure that you pay the appropriate taxes, look for ways to save and raise your business money and ensure that you comply with each jurisdictions taxation laws.

This will not only save you time and money, but it relieves the worry that errors are being accidentally made by you resulting in overpaying taxes or receiving fines.

When should a business engage an accountant?


It is widely recommended that when you are considering setting up a business, in the preparation stage, you should consult an accountant.

An accountant is able to help in the development of business plans, including making some preliminary financial forecasts.

They can give suggestions on how to best raise finance, advise you on any regulatory issues that you may need to address, including who you need to notify that a new business has been started.

Moreover, an accountant is able to help you to decide what it the best business format for your business to follow.

This is actually very important, as it will impact on other areas.

For example: Patent rights and ensuring Her Majesties Revenues and Customs receive the correct paperwork to help you to avoid fines and penalties.

Ensure full HMRC compliance

For amazing projects

To avoid problems

What can an accountant do for a small business?


In starting up the business


Accountants are able to provide a wide range of services for businesses.

Most chartered accountants can provide support for your business right from the off.

From the conception right through to the formation and ongoing trading of a company.

These services can include, but are not limited to the following:

  • Assisting deciding the appropriate business format - a limited company, partnership or sole trader.
    It is important to choose the right format from the off, as it will have implications on your ability to raise finances, taxation and your personal liability.
  • Advice on how to best set up your accounting records, inclusive of appropriate accounting software.
  • Directing you to the correct authorities who need to be informed about your setting up a new business.
  • Deciding on whether you should register for VAT or not.

When the business has started


When your business is up and running, an accountant is able to:

  • Ensure your tax returns are completed correctly and file on time, helping you to avoid fines.
  • Make sure that you are utilizing all the available tax reliefs, and give advice on how to reduce your future tax bill.
  • Advise on how to set up and prepare your payroll.
  • Help to choose the right kind of finance for the developmental stage that the business is in, as well as assisting in raising said finance.
  • Assist with cash flow so that the business will not run out cash.

Bespoke start-up accountancy services.


Our expert business start-up accountants will use state of the art technology, as well as their industry know how to ensure that your business is making the most of any tax relief it is entitled to; as well as looking for ways to increase your business's profitability.

We understand that each business is unique, and will require different support, therefore our business start-up specialists will provide a service that is tailored to you and your business.

Why Choose Us


Unlimited support and understandable advice

Our business start-up specialists are always there to provide on-going, proactive advice and support. You will receive a contact phone number that will give you direct access to your business start-up accountancy team. They will be just a call away, able to answer questions on anything accountancy related, from how to minimize your tax bill to how to file and give business expenses, or how to complete your P11D.

Dedicated Accountancy Team

You will receive a dedicated accountancy team that will work tirelessly to provide your business with the best start it can have. Providing support in setting up anything from payroll, to how much VAT you should be paying. You will have your own dedicated accountancy manager who will work and direct your team to not only meet but anticipate any accountancy needs your business will have, ensuring it has the best start.

Knowledge and Expertise

Our business start-up accountants are trusted, and expert in their fields. They will ensure that you are operating legally whilst looking for ways to save you money. They will use their knowledge and expertise to legitimately save your business money whilst dealing with HMRC, or the tax jurisdiction that you are intending to operate. Using state of the art software and industry know how to save you and your business money and increase its profitability.


Who do we work with?


Our specialist business start-up accountants and tax advisors work with businesses across the UK, whether you are a business in its infancy or need ongoing support they can help you.

We adopt a pro-active approach to accountancy services, looking for ways to improve your profitability, whatever the size of your business our expert chartered accountants can help.

Our chartered accountants will look for ways to reduce your companies tax liabilities and improve your businesses profitability to ensure stable and happy financial future.

Plain, easy to understand accountancy advice and support

Our charted accountants understand that not everyone they work with is fully qualified accountants; this is why they will work with you to ensure that you understand everything that is explained to you so that you can make informed business decisions.

Our team will be handling the complex, daunting and time-consuming processes for you, delivering it to you in an easy to understand format. Meaning that you will have easy to understand information, making it straightforward to make decisions.

You will then have more energy and time to focus on what you are good at, which is the running of your business.

Specialists in Business Growth

We can provide you with a business analysis of your company, help you to formulate marketing plans and provide a full analysis your competitors, looking for areas for your business to grow whilst providing advice on how you might do this successfully.

Our chartered accountants will give you all of the information that you will need to grow your company, increase your business profits and to make the best financial decisions for your company.

State of the Art Technology

Using the correct tools to manage your business's finances can make a huge difference. Our chartered accountants will review how you currently work and then will make recommendations as to the best approach for your business model.

If your business requires software solutions, then our experts will be able to provide state of the art, reliable software to streamline the accounting functions of your business to save you time and your business money.

Proactive Business Services and Advice

We're not just there to support you at the end of your financial year. Our accountants are on hand to support you and our business through whatever challenges it may face. We will be there to assist you straight away at your convenience, which will leave you to focus on that which you do best, the running of your business.

You can call us to sound out your ideas any time, and we will provide you with proactive, sound, understandable financial advice.

Unlimited, ongoing support

You will have a direct line to your accounting manager who you will be able to call as often or as little as you need. Whenever you need them, they will be there to support you.

Our accountants will even contact you to make sure that everything is running smoothly or to remind you that certain paperwork needs to completed and filed for HMRC. By working closely with you, and using their expertise and knowledge, they aim to anticipate your businesses needs, looking for ways to help it grow. If anything comes up that you need their support with, just call them.

Our specialist, business start-up accountants are on hand to ensure that your business has the best possible start.

We understand that all businesses are unique and so we provide bespoke services for our clients.

But it doesn't have to end there; our chartered accountants can stay with you all the way through to support your business throughout, helping to anticipate its needs, looking for ways to improve it's profitability, and ensuring that you remain HMRC compliant.

To see what they can do for your business, contact them today.

CONTACT US


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Frequently Asked Questions About Business Startups


What do I need to start a business in the UK?

8 steps to starting a business.

  1. Inform HMRC that you are going to be self-employed.
  2. Make sure you have the correct insurance.
  3. Decide what to call your business.
  4. Get a business bank account.
  5. Make sure you are compliant with taxation law, or manufacturing law, be aware of the rules and regulations of the field you are going to operate.
  6. Begin keeping accounting records for everything.
  7. Get your workplace sorted.
  8. Decide on the best legal structure for your business.
How much does it cost to register a business in the UK?

To register your business online with HMRC it cost £12, and it will take approximately 24 hours for your company to be registered.

However, if you decide to register by submitting a paper application it will cost £40 and will take between 8 and 10 days for your business to be registered.

Do I need to register my business in the UK?

If you are a sole trader and not a limited company, then you do not need to register with Companies House. Although you will still need to complete and return your annual Self Assessment tax return. It is likely that you may need to register for VAT.

How do I register a small business in the UK?

To register your business in the UK go to the Companies House website and follow the steps there, if you register your company online it will cost £12. It is possible to request that you register your business by submitting it on paper, however, it is more expensive to do it this way and will cost you £40.

How do I register as a sole trader?

England and Wales

First, you must set up a Government Gateway account, then you will have to wait approximately 10 days to receive your activation code.

Once you have received this follow the simple steps on your Government Gateway account to register as a sole trader.

Scotland

  1. You will need your National Insurance Number
  2. Contact HMRC and register for Self-Assessment
  3. You can then choose to trade under a company or your own name.
Can I register a company name without trading?

Yes. First, you must register your company with Companies House. Then when you have recived your information through the post, which you will need later, contact HMRC and state that your company is dormant. You can call HMRC on 0300 200 3300.

It is possible that you register your business and leave it dormant for its entire existence to protect its name and stop it being used by other people.

Do I need to register as self-employed?

You will have to register to for Self Assessment tax returns. Depending on the industry that you are in you may need to register for different schemes, for example, if you work in the construction industry you will have to register for the Construction Industry Scheme for tax purposes.

Do I need to register as a sole trader straight away?

You will have to register for Self-Assessment tax returns to register yourself as a sole trader. It is very easy to register online as a sole trader, you need to set up a Government Gateway account, wait around 10 days for your activation code, and then follow the easy to understand steps on there.