When starting a business venture clients often have concerns about which structure would suit their needs best. For example, whether to set up as a sole trader, partnership, incorporate as a limited company, LLP or umbrella company.
We can advise on which structure may be suitable by giving you the advantages and disadvantages of available options. This will allow you to make an informed choice and minimise your tax liability – both as an individual and a business owner. We can also complete the documentation necessary to set up your business, whether self – employment, ‘forming your company’ or otherwise and liaise with Companies House and the HMRC on your behalf taking the admin and stress away from you.
Companies House is the Registrar of Companies in the UK and deal with the incorporation and dissolution of companies, company information and making relevant appropriate information public.
Important documentation needs to be carefully prepared and submitted to Companies House regularly for example the annual accounts (financial statements), confirmation statement (which has replaced the annual return from June 2016) and details of changes in people with significant control. Failure to do so can result in strict penalties.
We can deal with all correspondence with Companies House on your behalf ensuring you never miss a deadline and all documentation is prepared correctly and in line with their guidance.
We recognise individuals and businesses have different concerns at various times and may have particular requirements or problems they need help addressing. We have helped clients with issues such as debt management and budgeting and planning to purchase their first home. Individuals seeking advice across various personal and business issues at the same time and helping businesses who wish to maximise profit and minimise costs using our consultancy service.
Should you have a specific concern which does not fall into the areas mentioned above, please contact us to discuss how we may be able to help.
It is important to be able to assess your predicted financial position by performing forecasts and projections. Many profitable businesses fail due to a lack of appropriate cash flow management – that is, not enough cash in the bank.
If business finance is required, lenders will want to analyse cash flow and financial viability. We can help you to calculate your predicted cash flows, forecasts and projections, with the aim of reaching your smaller, medium and longer term goals. These forecasts can be used to help during your budgeting process and to reach your desired level of growth.