If you are thinking of starting your own business the first thing you should do is get some professional advice from an accountant.
We can advise on:
- The most appropriate business structure for you (sole trader/partnership/limited company) to ensure that you are not paying more tax than necessary right from the outset.
- What expenses you can claim and what allowances may be available to you.
- Record keeping and what bookkeeping software may be right for you, and legally required under Making Tax Digital (MTD). We can also provide training and heavily discounted software packages (including FREE Sage cloud-based software for the first 12 months for new clients).
- Any reporting requirements you may have and the associated deadlines.
- Budgeting for future tax liabilities.
- VAT registration.
- Whether you need to open a PAYE scheme (and a Workplace Pension).
If everything is set up correctly before you start trading, not only will you be saving tax but you will also have more free time to concentrate on growing your business.
Contact us now to see how we can assist you. The first meeting is always FREE.