Normally people want to start up an enterprise because they have an excellent business idea and commitment to follow. What they lack is expertise in legal, financial, and fiscal areas. These obligations may seem intimidating to a new business owner. The smartest thing to do is to get support from an experienced Pegasus Accountant.
Pegasus Accountants will assess your business plan to deduce how durable it is in practice. The first thing to do is to check that your chosen name is available. Then we will proceed to choosing the right company type for your business: sole trader, partnership, or limited company.
For instance, contracting through your own Limited company is the most tax efficient way of working meaning that you can take home more of your hard earned money.
The financial rewards for owning and working through your own limited company compared with using an umbrella company could be substantial, as much as £15,000 per year if on a daily rate of £350.
Once you have decided to start a company Pegasus Accountants can help you;
Prepare a business plan, cashflow projections, budgets, and trading forecasts .
Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
Establish a good working relationship with your bank
Complete any registration procedures with Companies House, HMRC, or Customs and Excise
Deal with all company secretarial issues
Set up a recording system for your internal use and for complying with statutory requirements