New business start ups

New Business Start Up Package £395 +VAT

Finding a great accountant at the beginning of your new venture will save you time, effort and money in the short and long term. Our All-in-One business start up package provides you with everything you need to get up and running quickly, while being fully safeguarded both financially and legally, for a one-off fee of £395 +VAT.

The package includes comprehensive guidance on the following:

We will equip you with the knowledge you need to make informed decisions that are right for your business. Because we understand how hectic starting up a new business can be, we deal with the appropriate authorities, such as HMRC, on your behalf, saving you time and hassle.

Correctly setting up your business financially from the start, ensures everything is in place to put your start up in the best position possible to succeed.

By the end of the process you will be fully informed about all the critical aspects of starting a successful business. You will have met with us however many times is necessary and you will receive a comprehensive written report from us to which you can always refer and, depending on the routes you have chosen, you will have your company set up and registered with the relevant authorities

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Business Structuring

This can be the most essential decision of all. Whether to structure your business as a Limited Company, Partnership or Sole Trader at the start will have a huge impact on almost everything – how you derive remuneration, tax efficiencies, personal liability should things go wrong, customers’ perception of you, etc., etc.

There are pros and cons to each structure. We will look at what your business does, what your aspirations are, how the prevailing tax regime fits with each and a myriad of other factors in order to present you with the optimal choice.
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Tax Advice

Rather like interest on a loan, the impact of tax over the lifetime of a business can have a dramatic effect on the value you ultimately derive from that business.

We will look at the treatment of tax from the perspectives of both the business and you personally such that we are able to advise with certainty on the best routes to be taken in order to legally mitigate the amount of tax paid. After all, the money is better off in your pocket than the taxman’s!
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Remuneration Structuring

Your personal circumstances are different from that of the business owner next door or the neighbour who works for a large multi-national. In fact, everyone’s personal circumstances are different. We will tailor an approach to taking remuneration that fits with your circumstances and not everyone else’s.

Likewise, there will hopefully come a time when you take on staff. You may even be doing that from day one? We will similarly look at the best methods of rewarding and paying those staff.
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Company Set Up

If you decide that the best structure for your business is a Limited Company, we will set that company up for you.

This will normally involve:

  • Purchase of the company
  • Issue of Memorandum and Articles of Association
  • Filing of all statutory paperwork to appoint directors, etc…
  • Issue of share certificates
  • Updating of company’s statutory records

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Other Legal Advice

Whatever type of business you decide upon, there will inevitably be some legal or protective considerations you will need to address.

For example, if you are going into partnership with someone you should ideally have a Partnership Agreement drawn up clearly setting out matters such as the terms of profit sharing and what is to happen if one of the partners leaves. In a similar way, with a Limited Company you would have a Shareholders Agreement to tackle the same type of issues.

We will advise on the types of Agreement and legal documentation you should be looking to put in place and the nature of issues these Agreements should ideally address. Do note that given the length and complexity of these Agreements, this package does not include their preparation.
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VAT Advice and Registration

VAT is quite possibly the most complex tax of all!

For starters, it is important to realise that you may not necessarily have to register for VAT until your business achieves certain turnover levels. Despite this, it may still be in your interests to register though!

There is then the choice of determining whether it is best to account for VAT on a cash or accruals, (invoicing), basis and a variety of schemes, some or one of which may best suit your particular business.

Once we have learned from you what it is your business will sell, what turnover you are hoping to achieve and what costs you are likely to incur, we will outline what your best course of action is regarding VAT. If it is to register and start charging (and reclaiming) VAT immediately, we will register your business with HMRC for you.
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PAYE Registration

Every new business has a duty to register with HMRC. Should you or any of your employees receive a salary, it will be necessary to register for PAYE obligations.

We will explain everything involved and undertake the registration on your behalf if necessary.
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Pension Auto Enrolment Advice

The Government has recently launched an obligatory pension scheme for all businesses with staff meeting the qualifying criteria. Each business is given a ‘staging date’ from which it must have the scheme up and running.

We will advise on all aspects of pension auto enrolment from whether your business will have to comply through to what the direct impact is on you and your business.
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Insurance Guidelines

What is beyond question is that every business requires insurance in order to trade securely. What is less known is the vast array of different types of insurance out there and which ones fit into the ‘must have’, ‘ideally have’ and ‘don’t need’ categories for your particular business.

We will examine your business in detail and recommend the insurance cover you should have whether that be Professional Indemnity, Public Liability, Employers Liability, Goods in Transit or any others.
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Banking Recommendations

We’ve said it before and we’ll say it again, “Your business is different to any other business”. For that reason you may have your own specific requirements when it comes to banking.

You may need an overdraft facility or perhaps you will have money on deposit. You may trade in foreign currencies. You may take cash on a large proportion of your sales. You may require the ability to take card payments.

Let us get to the bottom of these questions and we can then recommend which banks are most likely to best suit your business.
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Terms and Conditions Review

Your business will trade, right? In that case, you will need a good, concise set of Terms and Conditions for your customers such that you minimise the likelihood of disputes over pricing, payment, return of goods, etc.

A business without these is a business looking for trouble. We will ensure that you are familiar with all the key aspects that need to be contained within a comprehensive set of T&Cs.
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Accounts and Record Keeping

Maintaining the records of the business should not be looked upon as a necessary evil but rather as an essential task that not only enables you to comply with law but is also one of the best tools for building a successful business. What you can measure you can manage!

There is a bewildering choice of software out there competing for your business. We know that there is no such thing as the perfect accounting software but we do know the strengths and weaknesses of each. We will also know by now precisely what your business requires of the software, (foreign currencies, VAT capabilities, divisional reporting, stock control, etc).

We will inform you what records your business must keep by law, what data it would be good practise for you to record for management purposes, and therefore what software best meets your needs whether this be a simple Excel spreadsheet or the latest cloud computing package.

Of course, should you wish us to provide training on the software down the line or even to do all the bookkeeping on your behalf, we would be more than happy to so do.
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Taking on Employees

Every business hopes to grow and hopefully it won’t be long before you find yourself having to take on staff.

Whilst that is an exciting prospect, it does give rise to many legal and financial considerations. How will you go about recruiting the right individual? What is the best way to pay them? What do I have to comply with in terms of PAYE, National Insurance and pensions?

Of course, the biggest aspect of all may be the Employment Contract and compliance with matters such as Health & Safety.

We are there to guide you through all this and make sure that taking on staff does not turn into an onerous burden for you.
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Premises Advice

One of the biggest outlays you’re likely to face over the years concerns where you will trade from.

Whether you intend to work from home or take a plush office in the latest development there are significant cost and tax implications. We can guide you through the benefits and downsides of each type of working environment including what to look out for in leases and the precise impact each place of work may have on your pocket.
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