If you don’t know where you’re heading, how will you know when you’re getting there? Every business is different; not just in what it does today but in where it wants to be tomorrow.
Letting us help with the groundwork at the outset makes all the difference in creating and developing the business you want.
Is incorporation right for your business?
There are many reasons why a business may be advised to be operated through a company limited by shares or a limited liability partnership, the primary commercial benefit for many is to reduce risk.
However, for some there are positive reasons that include succession, business change or reward and for others the ability to raise finance and secure debts.
Understanding tax for Limited companies
And of course, there is taxation. A limited liability partnership is not a taxable entity – the partners continue to be assessed as self-employed in most circumstances on their share of profits.
A limited company will introduce many new tax considerations from how to set up and move the trade into the company and what assets are owned by the company through to how income is taxed for the owners/managers and the company itself and different reliefs that can be used as well as pitfalls to avoid.
We can guide you
We are able to discuss options for existing businesses or for a new start-up to consider the correct structure for its activity. Jargon-free and with clear guidance our advisers are able to assist you with this important decision.
We offer comprehensive support for young and start-up businesses, including:
- Choosing and setting up the right trading entity for you: limited liability companies, limited liability or traditional partnership, sole trade, CIC, Social Enterprise or Community Benefit Society – we will explain the differences and help you choose the one that suits your circumstances
- Business models, strategic planning, feasibility study
- Financial planning, budget, cashflow projection, financial reporting
- Raising finance, grants, funding, venture capital, investment
- Management information, financial software, financial review, training
- Entry and exit strategies, personal financial planning, wealth management, asset protection
- Access to key commercial and professional advisers
- Statutory obligations, PAYE, VAT registration, Income Tax, Corporation Tax, Annual Return, CIS certificate
- Payroll, book keeping, HR, outsourcing
We aim to help you create the success that you planned to achieve.