We love to work with a start-up business; it’s fantastic to help them at the initial stages and then watch them grow. We started working with a new business last year that was setting up a shopfitting company. Our client had previously been employed and had been made redundant; he took this as an opportunity to set up his own business.
He was however unsure about where to start and how best to structure the business so he would be able to grow quickly as he already had orders for work.
We worked with our client in the early stages discussing company structure, as the nature of his business meant he had a lot of costs we decided it would be best to operate as a Limited Company straight away. This was a more secure way of operating for him and his family. We registered the client for VAT and advised on how best to track income and expenditure so that we could complete the VAT returns easily.
We also looked at how remunerating the client effectively, considering income tax and company share structure. This all helped to minimise tax liabilities and help increase profitability.
The business has grown very successfully, and our client’s wife is now going to leave her job and work for the company. Their children are at University, and they know that they are financially secure to support them and plan for their future.
If you are planning to start your own business, then get in touch with us. Getting good advice from the outset will help you to put foundations in place that will help you achieve success.
You can call 01623 490 120 or email