Accounting for Start Ups

 

 

 

 

 

 

Accounting for Start Ups

Performance Accountancy can provide you, the small business owner, with professional tax and accounting expertise.

Performance Accountancy has acquired many years worth of knowledge and expertise in helping you the start-up entrepreneur (or business owner under 3 years old) to make sure your accounting and tax affairs are fully compliant and that your cash-flow is positive.

Company business structure – what’s best for me?

Congratulations are in order for making the decision to become your own boss, and taking a huge step to creating a better financial future for you and your family.

As a new venture,  you are likely to be faced with many decisions, lots of  paperwork to do and hoops to jump through, so how about letting us remove some of that burden for you.

One of the most common questions as a new business is “what business structure should I choose?”, or “should I become a sole trader or company?”

This is perhaps one of the first and most important decisions to make when starting a new business.  Deciding which direction (sole-trader, ltd company, partnership) will depend on the type of customers you have, how you wish to pay yourself and many other factors.

Becoming a sole-trader, limited company or partnership will define the legal responsibility you have and your obligations to the Inland revenue services.

The company structure you decide on will impact;

• The paperwork that you need to complete.
• Which taxes you need to pay.
• The most tax efficient way to take any future profit you make from your business.
• The liabilities you will personally face in the event your business makes a loss.

There are many  advantages and disadvantages in forming a sole trader business. Equally with a partnership or limited company.  The best advice is to seek professional help here and fully understand the best route for you, depending on your start up business and situation.

Performance Accountancy has advised many new businesses over their 20 year history and have the expert knowledge and accountancy experience to help you make the best decision with your new venture.

Our ‘First Steps’ Accounting for Start Ups package has been specifically created to guide you with the new business owner with accounts preparation, company formation assistance and bookkeeping services.

This service is made for brand new business ventures or companies in their first year of trading as a new business entity.

• Assistance in setting up your business including legal entity
• Business & personal plans
• Company formation & company secretarial services
• Registering your business with HMRC
• Day-to-day / Monthly / quarterly bookkeeping
• Preparation of your accounts
• Self Assessment Tax Returns
• Corporate tax returns
• VAT registration and VAT returns
• Analysis, cash-flows, budgeting & forecasting
• Outsourcing of the accounting team

Call us now on 01344 834260* to ask about our accounting for new business service and to  see how we can help you. 

If you would prefer to learn about how to manage your own accounts as a fledgling business or recent entrepreneur then please take a look at our training course here.

 

 

 

 

*Please note that calls to this number may be recorded for use in training purposes and as memory joggers.