Starting a business? Thinking about going it alone, or have just started your own business? Need help with the legal requirements of naming and establishing your company? Confused about whether or not you need to be VAT registered? Overwhelmed by where to begin but keen to start trading as soon as possible?
If you’re venturing out on your own, dealing with all the decision making and financial legalities can be a daunting prospect at the outset. Let us get you off the ground by guiding you through those necessary first steps.
So you’ve got the big idea but how do you get it off the ground?
With so much to consider it’s comforting to know that ClearSky can be with you from the start. And as we’re an established and growing firm ourselves, you can rest assured that we’ll be here for the duration of your journey.
Our no nonsense approach to accountancy is an antidote to the over complicated stance usually taken by more traditional firms. We know that while starting out is an exciting challenge, it’s also a step into the unknown. Working with a financial partner that truly understands where you’re coming from, and one that doesn’t bog you down in the unnecessary detail, can make all the difference.
So, let’s start as we mean to go on. To make your life as easy as possible here’s a checklist of all the things you need to consider as a new business venture:
First things first you need to decide which is the best way for you to legally operate.
Should you set up as a sole trader, limited company, or a partnership? What are your options? A good accountant will be able to guide you through this decision making process and put you on the right path.
If you decide to set up a limited company, you need to create and name your company as a legal entity.
Don’t worry we can take care of this for you. We’ll process the registration with Companies House and plough through all the paperwork so you can start trading as soon as possible.
At this stage you’re probably considering whether or not you need to employ the services of an accountant.
Well, as you’ve probably realised, going it alone isn’t as straight forward as you perhaps first thought and, actually, attempting to keep on top of your accountancy affairs single handed is a false economy – simply because of the sheer time involved. Working with a professional gives you peace of mind that the tax man’s kept happy as well as removing all the problems that come with trying to keep on top of your finances. We’ve put together a handy checklist of what to look for in your potential accountancy partner to see if you think we could be a good fit – we think so.
Now’s a good time to set up a business bank account.
You can then separate your personal finances and keep tabs on your expenses easier. We recommend HSBC and Cater Allen because of their proven track record in supporting small business start-ups like you.
So you’re good to go but keeping on top of your HMRC obligations can be a job in itself
This is especially true during your first financial year when everything’s new. If words like self assessment tax returns (SATRs), national insurance contributions (NICs), year-end accounts, value added tax (VAT), corporation tax and PAYE schemes seem a scary prospect, fear not. At ClearSky we’ll take care of everything, prompting you well in advance as to what needs doing by when. Our job is to take as much of the administration off your hands as possible.
What to look for in your accountant and why choose ClearSky?
If this is you and you’d like to talk through your options with one of our qualified accountants call us today on: 08000 325 326
