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Business Starup

Getting the right advice and support when starting a new company is essential for the good running and growth of a business. If you would like to create a new business but don’t have experience in the legal or financial aspects, Motif Accounting can help you through the process, assisting you step by step.

Business startups & company formation

Our specialized team in Leicester have many clients whose businesses have grown to become significantly successful, of which in the early years of starting up, Motif Accounting have supported and guided them, providing the advice and assistance when required.

You might be starting a business, ignoring some fundamental financial aspects that need to be considered. Our Small Business Accountant team can help you face the real world of business and make sure everything is under control. Below are just a few examples of the many questions you should be able to answer about your starting business.

business-startup

Startup Companies & LLP Formations

Motif accounting is with you in every step forward

How will you structure your business?
Is your business plan feasible?
How much money will you need?
What are your profit margins?
What are the financial implications?

Structure is one of the key issues and we are able to advise you on the best way forward for your business. There are many issues relating to accounting and taxation to consider.

There are four main options available to most new businesses: the simplest of which is a sole trader, while other options include formation of a partnership, limited liability company or limited liability partnership (LLP). Each structure has different tax consequences and different implications, for the extent of your personal liability for business debts. The date of your accounting year-end can also impact the level of taxable profits and how long you have before you have to pay any tax due.

At Motif Accounting, we can take the complexity out of the decisions you need to make in regards to the right structure for you. We will take you through the pros, cons, ongoing filing and tax implications to help you decide which is the ideal format for you. We can help you get your business set up on the right way from the outset, ensuring that all the correct procedures are followed. We will guarantee that your early business planning decisions are based on reliable, timely and accurate information, making sure you obtain the overall optimum tax position.

Furthermore, once we have found which structure is best suited for your small business, Motif Accounting will develop a business plan specially tailored for your needs.

Considering Starting-up

  • „Find out whether you can work for yourself
  • Decide if you’ve got what it takes to be your own boss
  • Develop your business idea
  • Think about the money
  • Understand the different business types

Business Planning

  • „Understand the importance of business planning
  • Think about your financial planning
  • Develop your sales and marketing strategy
  • Plan to run your business
  • Create your business plan

Finance

  • „Understand how much money you need to start-up
  • Explore your finance options when starting-up
  • Decide if you need an accountant or an adviser
  • Understand how to set up a record-keeping system
  • Use your own money to start-up
  • Raise finance from family and friends
  • Raise finance from outside investors or other sources to get started
  • Understand the basics of business banking
  • Find out what to do if you’re refused finance
  • Meet your financial commitments

Tax For The Self-Employed

  • „Get started with Income Tax and National Insurance
  • Get to grips with expenses and records if you’re self-employed
  • Find out about Self Assessment and your tax return

Corporation Tax

  • Get started with Corporation Tax

Premises

  • „Rent or buy premises
  • Choose the right type of premises
  • Set up your business at home
  • Manage workplace health and safety

Your Customers

  • „Learn how to describe your business to customers
  • Understand your market
  • Build your brand
  • Get your pricing right
  • Sell your product or service
  • Promote your business

Business Structures

  • „Choose the right business model and legal structure
  • Register with Companies House
  • Name your business

Business Tax

  • „Get to grips with business taxes
  • PAYE and payroll
  • Find out how PAYE works
  • Find out if you need to operate PAYE
  • Decide whether you need to register as an employer
  • PAYE when taking on a new employee
  • Keep PAYE records
  • Set up a payroll system
  • Make PAYE payments to HMRC
  • Find out what to do for PAYE when an employee leaves

VAT

  • Understand VAT invoices and receipts
  • Run and manage your VAT account
  • VAT registration: how to apply and when
  • Get to grips with VAT and your business