Now that you have decided on your trading entity what has to be done to get the business started ?

  • purchase the company
  • appoint a Director
  • appoint a Company Secretary (if required)
  • choose a registered office address
  • decide on financial year end
  • appoint shareholders
  • decide on tax efficient shareholdings
  • register with HMRC for Corporation Tax
  • purchase the LLP
  • appoint members
  • decide on a registered office address
  • decide on financial year end
  • register the LLP for income tax purposes
  • register each member with HMRC for National Insurance purposes.
  • decide on each member’s salary level/personal drawings
  • decide on how profit should be appropriated between the members
  • decide on financial year end
  • register the Partnership for income tax purposes
  • register each Partner with HMRC for National Insurance purposes
  • decide on partner’s salary levels/personal drawings
  • decide on how profit should be appropriated between the partners
  • register with HMRC for income tax purposes
  • register with HMRC for National Insurance purposes
  • to decide on the financial year end
  • register for VAT (if appropriate)
  • register for PAYE/NIC (if appropriate)
  • provide advice on bookkeeping and accounting systems
  • provide advice on what expenses can be claimed through your business for tax purposes
  • provide other general accountancy and tax advice

Phase 2 of our business start up service includes all of the above.

Clearly, there are quite a few forms to complete however, our service is not just about form filling – in the process of dealing with the above there will be quite a lot of important financial decisions to be made where we believe our advice is crucial.

One example of this is in connection with registering for VAT. Depending on the size of the business you could have as many as three different options when it comes to deciding on which basis you should account for VAT. By asking you the right questions and getting to know your business we will be able to advise you on the option which suits you best – both from an administration point of view and from a financial point of view.

What some of our clients say...


© 2020 Grants Chartered Accountants. All rights reserved.

We use cookies on this website, you can find more information about cookies here.