Copyright 2010 Bowyer Pounds & Co Ltd. All rights reserved. Registered in England and Wales No. 4134290 Vat Registration No. GB 770 0663 41 Website designed by Kent Korkers
New Business Startup
No matter what your background, setting up a new business venture is a daunting task.
Apart from the all the pressure of getting to a position where you can start trading
and generating income there are also the various administration issues which need
to be dealt with.
WE CAN HELP YOU WITH
One of the first questions to consider when you are setting up a new business is
what structure to have. Typically a small business will be either a sole-trader,
a partnership or a small limited company We will look at the legal set-up and your
plans for the business and advise you on the most appropriate structure for you.
Where appropriate we can help you to set up a completely new limited company and
carry out all the relevant secretarial work.
A new sole trader or partnership must register themselves for income tax and national
insurance with HM Revenue and Customs (HMRC) within 3 months of starting to trade.
We have a stock of registration forms here and would be happy to complete these for
you. A company also needs to register with HMRC within 3 months, again let us know
if you would like us to help.
A business that has a turnover in any 12 month period in excess of £73,000 - always
measured to the last day in a month - must register for VAT. Sometimes a business
does not have to register but it is worthwhile registering voluntarily. When the
decision has been made to register for VAT there are a number of different VAT schemes
a business can join. Some of these can save you money and are worthwhile joining,
others are not.We can advise on all aspects of VAT including; VAT registration, operating
VAT and the different schemes available - cash accounting, date of supply, flat rate
scheme, retailers schemes etc
Every business must keep good books and records with details of all business income
and expenses. It depends upon the size and nature of the business as to how complicated
the records need to be. We can give you advice as to the best system for your needs
and to show you examples of book-keeping on computerised accounts programs, simple
or more complex spreadsheets or even manual cash books
It is important that the books are accurate as not only does this help to keep our
fees down but also because the accounts will be used to calculate your tax each year,
perhaps to work out your VAT payment if you are VAT registered, by a bank or mortgage
lender to decide whether to approve a loan application and of course by you to help
you to manage your business
There are many different types of tax which you are likely to come across whilst
in business, and some which only become relevant when you cease! We are able to deal
with all business and personal tax including income tax and corporation tax arising
from your business profits, investment tax, capital gains tax, vat, paye and national
insurance and tax arising from buy-to-let properties
Whether you are a sole trader, partnership, a director of a small limited company,
your income is from buy-to-let properties or you are simply a higher rate tax payer
we will take responsibility for completing your tax return working out your tax liability
and letting you know what to pay and when to pay it
And much more!
A lot of our on-going advice is included within our fees for preparing your accounts.
If we can encourage you to use Bowyer Pounds & Co more as a Business Advisor than
the archetypal Accountant, and do so without having to worry that it is going to
cost the earth, then it has got to be good news for you and your business!
Contact us today or telephone on 01622 728603 to find out how we can tailor a package
to compliment your business activities at a price that is guaranteed to be competitive.