Running your own business can be incredibly rewarding and will be one of the most exciting things you can do with your career.
But be careful – there are a lot of companies out there that prey on start-up companies, insisting that their marketing list, leaflet offer, web directory is the absolute best there is and that your business will probably fail if you don’t part with your cash immediately.
We’re not going to tell you that you have to get an accountant straight away. But as soon as you start making some sales in your new business, you should start thinking about it.
A lot of people wait until their first year end to think about getting an accountant on board; mainly because that’s what has always been done traditionally. The problem with this approach is that you won’t have had any ongoing advice throughout the year and after your year end has passed it is often too late to save you from a large tax bill.
If you are operating through a Ltd Company then you may face additional difficulties if you have costs that could be classed as a benefit in kind, have an overdrawn director’s loan account or risk incurring high penalties from Companies House for late submission of accounts.
Using an accountant on an ongoing basis throughout the year can avoid this problem and doesn’t have to cost the earth.
Our packages start from just £25 + VAT per month for a sole trader or £75 + VAT per month for a Ltd Company and will save you a lot of time, tax and sleepless nights!
Check out our Purpleforce package!