Starting your business – how we can help you get the basics right

Employed or self employed?

The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume they are free to choose, but HMRC emphasise that this is not the case.

[gdlr_divider type=”solid” size=”50%” ]

Forming a limited company

Although you can set up a limited company by buying a company online or ‘off the shelf’, it is usually advisable to use a specialist formation agent. Because of the many options and pitfalls we also strongly recommend working with us on the new business venture.

[gdlr_divider type=”solid” size=”50%” ]


Should I be registered? Should I use a flate rate scheme? Should I use cash accounting, invoice accounting or annual accounting?

[gdlr_divider type=”solid” size=”50%” ]

Buying a business

Buying an established business that someone else wishes to sell provides a path that many follow to fulfil their desire to enter into business or expand existing operations.

[gdlr_divider type=”solid” size=”50%” ]

Initial costs of starting in business

No new business is the same as another even if the product or service is similar. Review our summary of likely costs as well as making use of our start up funding calculator.

[gdlr_divider type=”solid” size=”50%” ]

Proving your credentials to investors

People don’t invest in ideas; they invest in people. You can have the world’s best business plan with a truly original idea that is guaranteed to make a fortune, but you could fail to attract investment if the people behind the idea do not inspire confidence or have the necessary plans in place.

[gdlr_divider type=”solid” size=”50%” ]

The tax system for the self employed business owner

If you start working for yourself, you must register with HMRC within the first three full months of self employment in order to avoid a penalty for failure notification.

The tax system for companies

We explain how your taxable profits are calculated and when corporation tax is payable.

And that’s not all…..Other things to consider

  • Business deductions
  • Claiming expenses – it’s all or nothing
  • Penalties for late returns
  • Choosing your accounting date
  • Buying a franchise
  • Buy-to-let properties
  • Are you in the construction industry and caught by the CIS rules?
  • Partnerships and partnership agreements
  • Preparing your business plan
  • Raising finance for your business
  • Why market research is imperative for start-ups
  • Growing the top line with a marketing audit
  • Green travel allowances
  • Essential record keeping
  • Insuring your business
  • The national minimum wage
  • Getting the stationery right
  • What is your e-commerce strategy?
  • Working from home
  • The hidden competitors