Business Start Ups
Starting your own business can be both an exciting time and a daunting task. Starting off on the right foot is the key to a successful business.
Business Advice
I can assist you from the outset with advising you on the most appropriate structure, sole trader partnership or company. I can also help with providing business plans, projected accounts and cash flow projections for the purposes of grant or finance applications. Furthermore, I can provide the following services
Business Services
I provide the following services
- Tax registration
- Company formations
- Software requirements and implementation
F.A.Q's
If you are a sole trader you will need to register for income tax. If you are operating through a company the company will need to register for corporation tax. If you have employees you will need to register as an employer. If you are operating in the construction industry you may need to register for RCT. You may need to register for VAT depending on the business turnover.
You must register a business name if you carry on your business under a name other than your own true name.
There are four main types of business entity through which you can conduct your business; Sole Trader, Partnership, Limited Liability Company or a Co-operative.
You need to consider:
- The kind of business that you are starting
- The expectations of those with whom you plan to do business (Some business people expect to conduct with limited liability companies and may be wary of other business entities)
- Your attitude to risk (A limited liability company limits the risk of losing your capital if your business fails)
- How you wish to organise your tax affairs (Limited liability companies are subject to more favourable tax rates)
In addition to the taxation issues, you need to consider that there are various other practical and legal matters which should be considered when setting up a company and on which you should seek further advice
