NEW BUSINESSES from MARSLAND NASH
Starting a new business can be daunting for most people. Our aim is to guide you through the initial stages of setting up the business by us dealing with some of the formal requirements that are required in law and assisting you in the early days. It is a known fact that many small businesses fail in the first year as a result of lack of suitable guidance and relevant business advice. We will support you through this period and offer assistance relevant to your needs.
In order to make your business a success there are a number of key factors which you should consider.
Commitment – starting a business is demanding, determination and enthusiasm are essential
Skills – You will need managerial, financial, technical and marketing skills
Market place – your product or service must have a proven or tested market
MNA deals with business start ups on a regular basis, and all the necessary paperwork and advice will be dealt with by one of our Client Managers who are experts in this field, leaving you to concentrate on getting the business up and running.
For business starting out we can assist you with all of the following:
- Advising you on a suitable structure for trading – sole trader, partnership, limited liability partnership or limited company
- Producing business plans and cash flow forecasts for yourself and other parties such as the bank and other lending institution.
- Completing all relevant forms to register you with HM Revenue and Customs (e.g. VAT, Self-Assessment, Partnership, CIS etc)
- Advise you on issues in connection with VAT and whether you need to be registered
- Advise you on how to keep proper books and records including producing correct Sales Invoices
- Advise you on what should be on all of your business promotional material, including website and emails.
- Advise on the type of expenses that you can claim as a deduction for tax purposes.
- Advise on what action to take with regards to any business vehicles.
- Tax planning advice that you may like to consider in the first year of being a business.
As your business progresses and starts to become successful we can discuss ways in which you can mitigate your tax and improve your profitability. We have a number of ways in which we can reduce the amount of tax you pay on any expansion profits you make once the business starts to grow.
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If you have any ideas or thoughts on how we can improve this website for your benefit then please contact us. All comments and criticisms welcome.