Launching a business is stressful and time-consuming enough, without having to worry about the complex accounting procedures which go hand-in-hand with running a new enterprise.
You will want to concentrate on your service or product, your customer service and your bottom line. At this critical time in your new venture, financial necessities such as taxation and payroll are distractions from your core business, and fraught with potential pitfalls if you are not familiar with the system. There is much to consider when you start a new business venture:
- What is the right structure for my business: limited company; partnership, limited liability partnership or sole trader?
- Do I have to register for VAT?
- Should I register for VAT voluntarily?
- If so, what VAT scheme is right for me?
- What costs can I claim against my sales to reduce my tax bill and what records do I need to keep to substantiate this?
- What deductions against profit can I get for capital expenditure?
- How does the timing of income and expenditure affect my tax liability?
- How should I pay myself?
Getting these things wrong will cost you money, and you may miss out on potential opportunities. At Elver Consultancy we offer all new clients an initial free consultation during which many of the above issues and more can be addressed. What’s more if you engage us to look after your tax affairs, or to complete year end accounts you are also buying in to year round support and advice. There are no charges for answering queries throughout the year. So, whether you wait until you need your year end accounts and tax compliance completing or whether you come to us right at the beginning of your business venture the cost is the same.
At Elver Consultancy we have a range of tailored Business Start Up Accountant services designed to cost-effectively reduce your administrative burden and ensure your financial obligations are met.
Crucially, our hands on service goes beyond simple number-crunching. We also provide practical assistance with company formations, and strategic help with business plans. If you would like to discuss further how Elver Consultancy can help your business start up please call us now on 01942 725419 to arrange an initial free consultation and fixed fee quote or enquire online.