If you have a new idea for a business but are not sure what you need to do next or how to deal with HMRC, the expert start-up accountants at Sherlock & Co can help.
Whether you are concerned about which business structure might be best for you, what accounting records you will need to keep, how to register with the authorities, or how much cash you will need for a successful venture, Sherlock & Co can walk you through the process from start to finish
Get business start-up advice from the experts
Before you begin your journey, it is important to understand what you want to achieve and have clear business goals in mind. Sherlock & Co can help you to:
- Write a detailed business plan;
- Prepare management accounts;
- Set up payroll;
- Prepare year-end accounts;
- File your taxes and VAT returns; and
- Set up and maintain your bookkeeping.
By choosing Sherlock & Co you will benefit from our team's vast experience in supporting business start-ups. We will work with you on an ongoing basis, ensuring we tailor the service to your unique needs and budget from the onset.
What do I need to do to begin?
Once you begin trading, your services and income are taxable. You must make sure you have taken all the necessary steps and registered the appropriate details depending on the type of business you run. Responsibilities include (but are not limited to):
- Registering your business with HMRC;
- Acquiring any necessary licences or permits;
- Setting up employee payroll and pensions;
- Determining an office location, or deciding whether you work from home;
- Acquiring any necessary Insurance; and
- Determining how you trade (online, abroad, etc.)
Depending on these factors, you may be required to pay more or less tax. Our experienced accountants will be able to assess this for you and guide you through the processes.
What about funding?
If you are planning to apply for funding to aid your business start-up, Sherlock & Co can also advise you on the best ways to approach this. Additionally, we can break down your current financial situation and advise you on how best to use your money, as you may find out that you do not need to apply for funding.
Visit our team page to find out more about our expert advisers.