If you are considering starting up in business then why not contact us to arrange a no obligation free consultation to discuss everything that you should be aware of as a new business.
One of the main things to consider is how you would like to trade. Selecting the right business structure is a necessary consideration and is dependant on many varying factors:
- Potential Profitablility
- Tax Planning
- Commercial Risk
These are just three of the main considerations and no doubt there will be many other factors influencing your decision.
Another thing that a new business needs to consider is the expected level of turnover. If the business turnover (sales) is going to exceed the mandatory VAT thresehold then you will need to register to VAT, not doing so will leave you open to interest and penalties issued by H M Revenue & Customs. Read More
Will you be employing staff? If you are you will need to register as an employer with HM Revenue & Customs and administer a payroll scheme. This can be a minefield for new employers as legislation is always changing and it is difficult to keep up to date. Read More
You will need to consider if you are planning to use subcontract labour within the construction industry. Although you may be using self-employed individuals you may still be required to dedcuct tax at source. Read More
If you would like to arrange a free consultation and to discuss the best way forward for your new business please contact us today.