When you’re trying to build a business, generate leads and grow, the last thing you need is to be worrying about getting tripped up by the basics. Make sure your new venture gets off on the right foot with the help of our efficient, expert business startup team.
When you set up a new business there are certain statutory obligations you need to meet as well as some systems and processes that are simple ‘best practice’.
First, it’s about establishing the best structure for your business. Whether you set up a sole trader, partnership or limited company will affect the amount of tax you pay, but you need to balance that against the risk you carry as an individual. We’ll run all the necessary calculations to help you make the decision that works for you.
Then, if you do decide to incorporate, we’ll help with company formation – making sure you’ve registered with HMRC and Companies House along with any other statutory obligations. We can also provide support with ‘company secretarial’ duties on an ongoing basis, from board minutes to statutory reporting.
New businesses often need support preparing a business plan and cashflow projections. Where do you want the business to be in two, five or ten years? What do your numbers need to look like to make that happen? This not only provides clarity and focus but is also vital in securing investment and lending. Having written or reviewed hundreds of business plans over the years, we’ll ensure yours is watertight and driven by hard data.
We’re also firm believers in the principle that it’s never too soon to think about tax planning. The decisions you make at the start can ensure your business pays the right amount of tax, without surprises or stumbles. We’ll highlight any potential tax traps and ways to minimise your tax bill through your business structure, employment practices and through claiming reliefs and allowances.