Getting the right advice and support when starting a new businesses is essential for the good running and growth of your new business. If you would like to create a new business but do not have experience in the legal or financial aspects, AW Accountancy & Bookkeeping in Bromley can help you through the process, assisting you step by step.
Business startups & company formation
AW Accountancy & Bookkeeping has helped many clients’ businesses grow to become extremely successful by using our excellent guidance and support during the early stages of starting up.
You might be starting a business, ignoring some fundamental financial aspects that need to be considered. We can help you face the real world of business and make sure everything is under control. Below are just a few examples of the many questions you should be able to answer about your starting business.
- How will you structure your business?
- Is your business plan feasible?
- How much money will you need?
- What are your profit margins?
- What are the financial implications?
- Structure is one of the key issues and we are able to advise you on the best way forward for your business. There are many issues relating to accounting and taxation to consider.
There are four main options available for your new business:
- Sole Trader
- Limited Liability Partnership (LLP)
- Limited Company (Ltd)
Each structure has different tax consequences and different implications, for the extent of your personal liability for business debts. The date of your accounting year-end can also impact the level of taxable profits and how long you have before you have to pay any tax due.
We will take you through the pros, cons, ongoing filing and tax implications to help you decide which is the ideal format for you. We can help you get your business set up on the right way from the outset, ensuring that all the correct procedures are followed. We will guarantee that your early business planning decisions are based on reliable, timely and accurate information, making sure you obtain the overall optimum tax position.
Other considerations upon starting your new business:
- VAT registration
- PAYE registration
- CIS registration
Call us on 0208 935 5459 to discuss your requirements or complete your contact details here and we will be in touch.