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Starting your business: Three vital things you need to have

Starting your business: Three vital things you need to have

Starting your business: Three vital things you need to have If you're looking to start your business, it can be incredibly tempting to get right into it and try to start operating as soon as you possibly can. However, there are a few things that you'll need in order to make sure you have the best possible foundation to move forward. Here are three of the most important things to consider when planning your new business and exactly why you need them.

Business registration

One of the most important first steps you can take is registering your business with HMRC. You can register as a sole trader, limited company or a partnership, and this is important because it can make a significant amount of future administrative work much easier. It can be easier to request government support if you need it, and paying fees such as corporation tax is far simpler when you can use the government's own platform. Although this isn't a compulsory step, it's definitely worth doing.

A thorough business plan

Many people jump headfirst into the world of business with only a very basic idea of what they actually want to do. Whether it's designing logos or working with cars, you need to make sure your services are supported by a thorough business plan. Otherwise, you run the risk of having unbalanced books or not charging enough for your company to tick over. A cohesive and thorough business plan can help to structure the next few years of your operations and ensure everyone is on the same page.

A professional accountant

Whilst you're enough of an ideas person to form your own business and create a product that your customers love, you might not necessarily be on the ball with the numbers side. However, this can be easily resolved with the help of a professional accountant. When it comes to year-end accounts and corporation tax, you may not know how to file your taxes, or even the rate you need to pay. By hiring an accountant that has a thorough understanding of your business and the regulations that apply to it, you can avoid falling foul of fees and penalty fines. If you're interested in hiring a business accountant for your company, get in touch with the Taxcare Accountancy team today and find out what a business accountant can do for your new company's growth.

Affordable Pay-monthly Packages

We offer a full range of services to limited companies, solo trader, partnership, charity, LLP, CIC as well as individuals. We have arranged our services into easy to choose packages that suit your needs.

Start-up
£ 60  / Month (+VAT)

This price plan is suitable for the start-up companies who are not VAT registered.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Payroll & RTI submission for 1 employee
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Assisting with correspondence from HMRC and Companies House
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 80K
Limited Company
£ 100  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered and turnover is less than 100K with a couple of employees.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 2 employees
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • MTD VAT returns submissions – quarterly
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 100K
Company Pro
£ 150  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered; turnovers are more than 100K and have 2 directors and shareholders.

  • Company formation (if required)
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 5 employees (Free)
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Unlimited face to face advice and email support
  • 2 Directors
  • 2 Shareholders
  • Annual turnover should be less than 200K
Company Premium
Let's talk.  / 

This bespoke price plan is suitable for the companies who are VAT registered, with more directors, shareholders and employees. Also, annual turnover is more than 200k and requires further bespoke services.

  • Company formation
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission all employees
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for the all Directors (Free)*
  • Unlimited face to face advice and email support
  • Flexible and can be discussed
  • Annual turnover should be more than 200K

Add on Services

  1. Personal Tax Returns

    This price plan is suitable for self-employed individuals, landlords and those who need to submit Self-Assessment Tax Returns.

    If you need to submit the Self-Assessment Tax Return, we can offer you competitive prices starting from £150 + VAT. Price can vary according to your nature of income. Please contact us for more details.

  2. Tax Investigation
  3. Business Legal Support
  4. Company Formation
  5. Business Mentoring
  6. ARA accounting services for ATOL & ABTA travel companies

    Our commitment to you is that we’ll ensure all the information we’ve submitted to the Civil Aviation Authority is up-to-date and accurate. 

Taxcare Accountancy was formed to provide Small & Medium Businesses with an affordable, proactive and professional accountancy services…