So, you’ve made the brave decision of setting up a new business. It’s quite likely that you’ll be feeling a mixture of excitement and pressure. Will you have the level of success required to make it through the perilous first year of trading? Can you juggle all of the demands that come with the establishment of a brand new business?

You’ll undoubtedly be aware that financial management will be key to the success and growth of your start-up business. However, there might also be a temptation to limit your outgoings and perform the accountancy duties yourself in the early stages. This will mean that you have an added financial burden and less time to focus on what you do best.

Make the savvy choice and call upon Appleleaf Accountancy for the types of benefits covered in this blog.

Guidance in the Choice of Legal Structure

The setting up of any new business will involve a decision over the appropriate type of legal structure. If you’re going to be working independently then it might be best to register as a sole proprietor; meaning that you assume possession of the business assets and responsibility for the management of debts.

Alternatively, you may choose to register as a limited company; assuming responsibility for the filing of tax returns and payment of taxes on income made directly through your business activities. This will mean that you have to obtain approval from Companies House for use of your chosen business name. It will also be necessary to adopt and file a Memorandum and Articles of Association specific to the rights and obligations of shareholders, directors and officers.

Drawing on our considerable experience, we are able to give you impartial advice and support in the appropriate choice of business structure. We are also able to assist you in the establishment of a new limited company; ensuring that all of the correct paperwork is filed at Companies House with the minimum amount of stress.

Registration with HM Revenue and Customs (HMRC)

Once you’ve decided upon the appropriate business structure the next step should be to register with the tax authorities. Of course, you could deal with registration for everything from payroll, to VAT and pensions independently. However, omissions and mistakes could lead to issues and penalties being issued by the authorities.

We can help you when it comes to initial registration with the HMRC; ensuring the accurate completion of additional forms that may be necessary when starting your business. You can rely on us to work through any issues and answer questions over the phone or email.

Securing Business Funding

There’s a fair chance that you’ll need funding to see your way through the early stages and realisation of your business goals. However, you may be unaware or unsure of how to approach sources of finance beyond your immediate family and friends.

We have established partnerships with reputable financial institutions and funding providers. You can rely on our support in the writing of applications, including key details about your financial standing and long-term vision for the best chance of success.

Supporting You Through Your Business Journey

We want to support you in the journey of setting up and developing your new business. That’s why we have created a New Business Start-up Guide; providing information and support across all aspects of running your own business – from cash flow forecasting to marketing. If you think you would find this useful then drop an e-mail across to info@appleleafaccountancy.co.uk with your contact details. We will send you a copy straight away.

Get In Touch

We hope that this blog has given you an improved understanding of the services and benefits offered by Appleleaf Accountancy. However, you are very welcome to get in touch with us for a no-obligation discussion about your business plans and requirements.

Give Appleleaf Accountancy a call on 01472 287387 or drop us an e-mail at info@appleleafaccountancy.co.uk to start your successful business relationship with an established firm of Chartered Certified Accountants.