When embarking on a new business most people are focused, driven and excited by the challenges that lie ahead.  Unfortunately many businesses fail through lack of planning and organisation.

Never has the saying ‘Fail to prepare - prepare to fail’ been more apt than in business. For many people setting up a new business leads to them learning new skills and dealing with issues that they have not faced before.  Although this may be exciting, it can also be quite daunting without the right professional guidance and advice.

Key questions can include the following:

 Which business structure should you use?

 Does your business need a PAYE scheme?

 Should you be registered for VAT?

 How should you pay yourself if you operate through a limited company?

 Should you have a company car?

 What financial year-end should you choose?

 How are national insurance contributions paid if you are self-employed?

 What business records should you keep?

 Which business expenses attract tax relief?

 Can you employ members of your family in the business?

 Who do you need to inform about the new business, and when?

We can guide you through the maze of questions and issues that arise from starting a new business.

Professional, expert advice is clearly essential to the successful growth of any business, and we believe that having an accountant who is prepared to listen as well as advise is crucial to this process.

 

Starting a New Business