Choosing to start a new business is one of the most important decisions you will take in your life. Your future income, aspirations and ultimate future wealth creation will all depend on a successful start. With that in mind, you want to take the time to ensure you get everything right from the beginning.

Limited Company, LLP, Partnership or Sole Trader? 

When you start your business, you have a few structures to choose from, and it can be a daunting prospect to try and select the right one. We can help you select the proper company structure. Each has its tax characteristics and legal formation hurdles to overcome, so you need to understand the differences before choosing one. We will help you make the right decision for your business and get you started on a secure footing.

Day to Day Business Operations 

We can also help you with more essential things, such as opening a bank account for the start-up and registering for VAT and PAYE taxes. We have a range of services designed to make the day-to-day business operations run that much more smoothly.

• Our HR service can help you produce employment contracts and staff handbooks so that your business complies with employment rules that exist. We take the worry out of dealing with HR issues.
• Our management accounts service can help you monitor your key performance indicators (KPIs) so that you can keep your business on track.
• Our payroll service and bookkeeping service can handle your payroll and bookkeeping when you need to be focusing on your business and not on routine administrative tasks.

Business Start-Up Funding 

If you decide to form a company, the question then arises of how you will finance it. Will it be seed capital from yourself or an investment from the bank, family, friends, or outside investors? In that case, there are several ways to make it tax advantageous for the investor, and we can advise you on these.

Standard methods include the Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS). These offer a range of tax reliefs to investors who buy shares in your new company. It is worth getting advice on these schemes beforehand. We can obtain the approvals for such schemes, making the whole process considerably more straightforward and less stressful for you and your potential investors.

You also have the option of taking a government-backed loan that is designed for start-ups. Again, we can help guide you through the process of starting your company, ensuring you make the right choices for yourself and your business.

Putting Together a Management Team

You may be looking to lock in a management team from day one. We can advise on Enterprise Management Incentive (EMI) schemes to help you secure the future service of your key staff. These schemes offer tax-advantaged share options to employees of the business, which can be another complicated process. With our expertise behind you, the start-up can easily accommodate these schemes and make them work for you and your business.

If you are setting up a business and looking for sound and practical business start-up advice, do not hesitate to contact us. We can help with any queries you may have and set you on the right track from the beginning.