Our ‘Acorns’ service has been especially designed for the business start up.
Sometimes, a business start up is tempted to cut corners and does not take advice from qualified chartered accountants. This is a bad move and one that many regret.
These are the areas where we can help you get off to a flying start:
Financing your start up business
We work out your borrowing requirements by preparing cash flow forecasts and profit projections.
Then we help negotiate with your bank manager and other prospective lenders or investors.
Whether you should trade as a sole proprietor, partnership or with a limited company
We advise you of the tax consequences of each of these options for your start up business. We can help to identify any risks for example from litigation by customers or employees. We can set up a limited company for you, if that is what you decide to do.
The records your start up business need to keep
It is important right from the start to keep proper records of all your business activities – to help you regularly monitor the progress of trading as well as to meet your obligations to HM Revenue and Customs.
We can show you how to keep proper records and help you to decide whether you need a computerised accounting system such as Sage. And if you do, we can install Sage for you and train you in how to use it.
VAT
We can help you to understand how VAT works. We can tell you whether you need to register for VAT and help you to complete your first VAT return. Then we can carry on helping you with your VAT for as long as you like.
Whether your start up business will need employees
If you are going to employ staff then you need to understand the PAYE rules and how to make payroll calculations. We can explain these to you and help you to set up a PAYE scheme with the Inland Revenue. We can supply payroll software and show you how it works – or you can take advantage of your Payroll Bureau Services.
The end of the first year of trading
After the end of your first period of trading and annually thereafter, a set of accounts needs to be drawn up.
The information in these will be needed by, for instance:
- You, so that you can see how your business has performed and to help you plan for the future
- The bank or other lenders and investors
- The Inland Revenue
- Companies House if you trade as a limited company
Tax computations will be needed for the Inland Revenue and so will self assessment tax returns for you and corporation tax returns for a company.
Your company may need an audit. We have a highly experienced team on tap.
We can prepare your year- end accounts and meet with you to make sure you understand them. In short, we can take away a lot of the headaches facing a start up business. And you can focus on making your new venture a success.
Special features of our Acorns business start up service include:
- Initial analysis of the viability of your business idea
- Ongoing telephone support at no additional charge for first 3 months of trading
- Free advice on marketing and web promotion from our associates
- Free taster session on Sage
