Bowyer Pounds & Co
76 Glebe Lane
Barming
Maidstone
Kent  ME16 9BD
Tel 01622 728 603
Fax 01622 728 604
Copyright 2010 Bowyer Pounds & Co Ltd.  All rights reserved.
Registered in England and Wales No. 4134290
Vat Registration No. GB 770 0663 41

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Bowyer Pounds & Co
Financial accountants

New Business Startup

START-UPS

 

Daunting

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

 

Structure

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.

 

Regulatory requirements

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.

 

VAT

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

 

Record keeping

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

 

Taxation

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

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.