Supportive accountancy and tax service with Frances Conn at Figureweave Accountancy. To help you control your finances and sleep at night.
Avoid the 7 mistakes that most startups make!
Setting up a business can be a frightening prospect. You’ll need a friendly and helpful accountant to show you how you can save tax and do things properly right from the start. Don’t waste time and money making silly mistakes!
Four crucial areas you must get right
Are you clear about the difference between a limited company, sole trader and partnership? Do you understand which option is best for you now?
Making the wrong choice could cause you unnecessary expense and/or make doing business more difficult.
If you’ve just set up a limited company on your own, have you considered the complications of satisfying HMRC and Companies House that you know how to do statutory accounts and a corporation tax return without any accountancy training? Did you know that running a limited company is very different and more onerous than running a sole trader business?
If you don’t know what you are doing, you will eventually have to pay an accountant to sort out all the innocent errors you made. Not to mention the extra tax you might owe HMRC.
And how much do you know about VAT? That’s a minefield on its own. Common sense on its own just doesn’t cut the mustard in this area.
If you don’t register for VAT when you should have done, HMRC will fine you and demand you pay them the VAT you didn’t charge your customers when you should have been registered. If you do register for VAT you’ll need to understand all the rules affecting your business. Again there are penalties if you get it wrong.
Need someone else to help you in your business? Do you understand who should go on the payroll, how to run a payroll, and what deductions should be made?
This is another complicated area where HMRC can penalise you heavily for getting it wrong.
I Work With Startups.
Are you looking for an accountant who likes people, like me? That’s the key to a good business relationship. I respond to emails and phone calls fast so you aren’t left puzzled and worried about tax, VAT, CIS or PAYE and can get on with running your business. The more you can keep me informed about your business the more I can help you save tax.
You’ll love my fixed fee for the year so you know exactly what to budget for.
Do you know all the facts about setting up a new business? Of course not! But when we work together we will be in regular contact. I can tell you about tax saving areas you may have overlooked and make sure that your accounts are up to date.
I can train you on Xero or Sage 50c so you can look after your own bookkeeping. Peace of mind as well as tax advice is a phone call away! Call me on 01737 559211
Click on the button below to discover which of my services is right for your startup.
What my clients say about Figureweave Accounting
“Frances is more than just an accountant. She made me aware of the time I put into work and helped me re-evaluate my prices. She completely changed the way I think about my business!“Mally Yina
“I have been very happy with Figureweave Accountancy’s services. They moved my sole trader business into a limited company a few years ago. I’ve been able to save tax as a result. I like the idea of fixed fees so I know what to budget for.“John Symon