Start-Up Services
One of the first decisions you have to take is deciding on the most appropriate structure for your business. It will be whether to operate as a sole trader, as a partnership or as a limited company.
The choice you will make will have different financial implications for many areas of your business and personal life, including your own personal finance, level of risk, tax, national insurance, pensions, privacy, status and running costs.
Once we know your business objectives we can advise on how you should operate and explain how this will influence those factors listed above.
We can then provide assistance with the business plan and cash flow forecasts that will be needed if seeking finance.
In any case if significant initial costs are to be incurred these should always be prepared so you can see where the business is going and monitor actual performance comparing this to budgeted figures.
Bookkeeping and Accountancy
This will usually include registering your business for Value Added Tax and setting up a PAYE scheme. We can also advise on the operation and maintenance of manual or computerised record keeping.
In view of corporation tax for Limited companies being at 21% from 01.04.08 whilst for self-employed and individuals the marginal income tax rate including Class 4 NIC of 28%, straight away a tax benefit arises with running your business through a Limited company. This may be the most appropriate structure and we will explain how you should adhere to the statutory regulations as prescribed by the Companies Acts.
The selection of the appropriate year-end can have significant effects on the payment and timing of taxation liabilities, especially for sole traders and partnerships. Again we are happy to advise.
Then once your business is established, our continuing expertise is available to assist in all other areas to enable you to concentrate your energies on running and expanding your business.
If you are interested in the above service, click here to contact us.