Business Startups

Sole Traders and Partnerships

Deciding to become a sole trader or a partnership is the simplist way of starting and running a business. Registration costs are minimal and record keeping is straightforward, as you only need to keep records of your income and expenses.

As a sole trader you are personally responsible and liable for all debts the business runs up, and your home and assets can be at risk. Benefits of a sole trader is all profits go straight to you.

As a sole trader you will need to register with HM Revenue and Customs as self employed and complete a self assessment tax return annually which needs to be filed by the 31st of January each year.

We can ensure you are correctly registered with the Revenue and paying the correct National Insurance contributions. We can also advise you if you need to be VAT registered as it may be beneficial to your tax position.

If you are working from home we can also advise you on allowances for home office, mobile and internet use and mileage claims.

Book a free no obligation consultation.

Limited Company Formations

Starting a limited company or changing your business status to a limited company can be beneficial to your tax position. Another of the benefits is the limited liability which is bestowed on the company officers and shareholders, as personal assets are not at risk in the unfortunate event of having to wind up the business. Customers and suppliers can also have greater confidence that they are dealing with a company, which can enhance your reputation.

It is important to take  reliable advice concerning such a decision. There may be good business and tax reasons to become a limited company, but great care should be taken in doing this.

We can assist in incorporating your business with companies House and HM Revenue and Customs including preparation and lodgement of all the appropriate forms. Informing you of the necessary policies and legislation and ensuring your transition to Limited Company be a smooth one.

Book a free no obligation consultation.

New Business Consultation

Are you thinking of starting up a new business or purchasing an existing business or franchise? We offer new business consultation services and advice to give you the confidence that you are making the correct decisions. You may be asking "Is the business viable? Have I budgeted correctly? Am I making the right choice?"

With over 25 years experience in accountancy and taxation and close links to the local business community, Steve Vincent has the knowledge and sound business background to guide and mentor you through what can be a daunting and often overwhelming decision making time.

We will provide you with all the information needed and advise you on the information that you should be asking for. 

Book a free no obligation consultation.