Your challenges

Starting your business

All business tend to follow a well-defined life cycle.  The problems start long before you have sold your first item or raised your first invoice.  Shortly after you have had your “good idea”  you are faced with a multitude of questions:

should I be a sole trader or form a company?

how do I raise some initial finance?

should I register for VAT and which scheme should i choose?

what records do I need to keep?

how much tax will I pay and when is it due?

how do I set up a payroll?

help!

You have now got to the end of your first year.   Congratulations.  The great majority of businesses never get this far.  They are crushed out of existence by the weight of problems, regulations, unrealised expectations and – most important of all – they run out of cash.

Expanding your business 

You now move onto the next phase:  Expansion.  This involves a whole new range of challenges, where the stakes are higher.  You have proved you have a viable, but small business, but how do you make it grow?  In addition:

what extra resources can I tap into?

is my original business structure still suitable?

how do I bring in more shareholders or investors and on what terms?

how do I protect what I have already built up?

am I optimising my tax and remuneration strategy?

Create tax efficiencies

Underpinning everything you do is the UK tax system.  As a taxpayer, of course, you are expected to have perfect and complete knowledge of every single paragraph of every single taxes act – corporation tax, income tax, VAT for starters and then there is payroll, NIC, pensions followed by the HR Department.  That’s you by the way unless as with many of these business challenges, you have built a team around you and out-sourced these problems, leaving you to concentrate on running the business. 

This website is a passport to all the issues covered above and then eventually, and this happens to everyone, retirement, or sale of the business beckons and you move onto fresh challenges.  At this point, you will find out that selling a business is just as challenging as setting it up in the first place, if not more so, to prevent HMRC from sharing too much of your lifetime’s efforts.

Explore Our Services for an in depth review of how we can help you manage these challenges and see below for the three most common areas where we can help you achieve your objectives.