Advice on Starting A New Business - Make Sense
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Advice on Starting A New Business

Advice on Starting A New Business

Starting A New Business

New Business

Anyone who has ever set up their own business will tell you about the excitement, the sense of achievement and the feelings of self-worth that you experience when you make that first sale or win that first client.

While setting up a new business can be an extremely exciting time, there are a number of dangers and pitfalls. No matter how passionate you are about your new business venture, it is likely that there is a little voice in the back of your mind which keeps scaring you about the risk of business failure despite considerable effort and financial input.

Makes Sense will take time to understand your business plan and tailor your individual needs and objectives whilst minimising tax. We also ensure all appropriate tax planning opportunities are identified and implemented effectively

Our integrated business start-up services include:

  • Helping you to decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company based on your current and future plans.
  • Complete registration procedures with Companies House and HM Revenue and Customs.
  • Keep on top of bookkeeping, allowable expenses, VAT, payroll and other accounting requirements
  • help with all aspects of business compliance and administration
  • Review whether  your business need to register for VAT and how to take advantage of various VAT schemes available
  • Preparation of VAT returns
  • Preparation of business accounts (sole trader, partnership and limited liability partnerships).
  • Preparation of self-assessment tax returns for the businesses and their owners.

Company Structures

We will put together a business structure that suits your needs and objectives both for your short term and long term, personal and business plans.

We will talk you through the pros and cons of the different structures available to you and ensure that you are armed with a firm understanding of all the facts when you make this decision.

Whichever business structure you adopt we will be on hand to guide you and help you navigate the challenging business tax regime.

Our advice in this area will cover:

  • The most suitable type of business structure – sole trader v partnership v company.
  • Shareholding structure specific to your particular circumstances.
  • Remuneration planning – salary, dividend, loans, company pension contributions, benefits in kind and retain funds within the business.  The planning will be tailor for your particular circumstance and your need for post tax income.
1Comment
  • Lyn
    Posted at 21:30h, 03 September Reply

    Great information for new businesses.

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