Business Start Ups

Starting a new business can be a little bit daunting. There are many things to think of and regulations to follow. A good accountant can help guide you through the maze and help your business get off to a good start.

You may need advice on the appropriate structure for your new business, whether this should be a sole trader, partnership or limited company. Sole traders and partnerships should register with HM Revenue and Customs in good time to avoid any penalties for late notification. To form a limited company you will need to consider who will be the officers of the company, where the registered office will be and a suitable share structure

You may also require advice on whether you need to register for VAT and the merits of the various schemes including Annual Accounting, Cash Accounting and the Flat Rate Scheme.
It is also important to set up your routines for record keeping and consider what accounting system you will use. If you will be taking on employees you will want to know how to register with HM Revenue & Customs and administer your payroll and PAYE.