Starting a new business is a very daunting task and yet it is becoming far more common, particularly as more people find their jobs at risk, or perhaps having already been made redundant.

However, being self employed is certainly no easy task and many new businesses fail very quickly due to poor planning, poor execution or one of many other reasons. One of the core areas that are essential to a new business being successful is the finance function and being in full control of your finances is certainly a big step towards creating a viable and profitable business.

The main services we can offer to help as you take your first business steps are:

Business Structure

We will guide you to making the best decision on whether to trade as a sole trader, partnership or limited company. We can then help set you up in the appropriate format.

Tax Planning

We can advise you accordingly in order that you pay tax at the appropriate level and give recommendations in order that you can save tax, where possible. We need to consider income tax, corporation tax, national insurance, VAT, capital gains tax.

Financing Arrangements

We can discuss and advise with regard to overdraft requirements, personal or business loans, making projections and monitoring targets.

Business Plans

We can prepare or assist in the preparation of any business plans prepared for your own use or for any third party, such as the bank.

Authority Notifications

We can deal with the notification of your new business to the various authorities, including several departments of HMRC, Companies House and so on, as appropriate. You should beware that some authorities require notification quite soon after commencement and failing to do this can result in financial penalties.

Introductions

We can provide introductions to suitable third parties, as appropriate, such as banks and solicitors.