Accountants for Start-Ups
Your Start-Up's Journey Begins With Mazuma
Starting your own small business is hard work, and while a little daunting at the beginning, it’s an exciting moment in your life!
Our goal is to provide small business startups with as much accounting support and advice as possible. We’ll sort all your tax, bookkeeping, and accounts for you.
Our small business accountancy services have been designed to help your business build the strong foundations it needs to grow.
Why Choose Mazuma For Start-Ups Accounting?
Complete Tax And Accounting Service
We offer a complete, hassle-free accounting and tax service for new business owners in the UK. From managing your monthly accounts to making sure your tax liabilities are neat, and in order, we take on as much responsibility as necessary. All you need to do is send us your receipts and invoices, and our expert chartered accountants will do the rest.
As a business startup, you might not know much about your financial responsibilities, and failing to follow the legal regulations could land you with a penalty from HM Revenue. At Mazuma, we’ll provide professional support in your startup journey.
Not only will we make sure that you understand what your duties are, but we’ll also take the majority of the hard work off your hands. In this way, you can focus on being productive and driving your startup to success, as we take care of the burdensome financial stuff.
We understand that no two new businesses are the same, and it’s likely that you require personalised accounting services that cater to your individual needs. We offer flexible, tailored services that suit all budgets and requirements.
But what if that’s not what you’re looking for?
That’s fine because we’re happy to answer your questions and provide you with the best service for your individual situation.
Your Dedicated Accountant
Offering personalised service is essential, as it is at the core of who we are. When you sign up for our startup accounting services, you’ll be paired with your dedicated accountant, who will get to know your business and support you on your path to success. You’ll have the same go-to person whenever you need help or have a question for us to answer.
Grow With Us
As a new business, you’re likely excited about the potential for growth in the coming years. So, you need an accountant who can expand their services to keep up with your business, guaranteeing you continue to meet your needs as you hit new milestones and scale. Our startup accountancy services can be tweaked and ensure that a growing business is always well-catered for.
Leave It To Us
Starting a new business takes a lot of time and effort, especially if running your startup isn’t your full-time career just yet. With Mazuma’s accounting for startups, you can free up your time for business planning, acquiring interest, or dealing with your first customers, knowing that we’re managing all aspects of your bookkeeping behind the scenes. In other words, we don’t limit your growth potential.
It's Easy For You
We know that when you choose to take on an accountant, it’s because you want to reduce your workload and responsibility. That’s why we keep it as simple as possible for you. All you need to do is send us proof of your monthly income and expenses. Once done, we’ll log your information on our accounting software and keep you updated as the financial year progresses.
Support Beyond Accounting
We’re here to offer guidance to startups at any stage of their journey. Whether you need help understanding Companies House, you’re struggling with company formation, you’re unsure about your business structure, or you’re still amending your business plan, we can extend our advice beyond the basics.
Get The Support Your New Business Needs With Mazuma’s Accounting Services
As a startup business owner, you’ve got a lot on your plate. Proposing your business idea was the easy part, though. You’re now likely dealing with setting up a business plan, deciding on your business structure, registering on Companies House, raising finance, and more.
The last thing you want to add to your list of responsibilities is monthly management accounts. Unfortunately, accounting is an unavoidable aspect of owning any business, whether you’re a sole trader or a limited company.
At Mazuma, we offer flexible accounting services designed to suit the requirements of the majority of small business startups. Our chartered accountants are qualified and competent in delivering a broad range of hassle-free subscription accounting services, including annual accounts, tax returns, monthly payroll, and pension services, to name a few.
However, we’re not only here to manage your accounts. You’ll be paired with your own dedicated accountant, who can offer professional advice and ensure your growing business can operate as smoothly as possible. We’ll make sure you’re prepared and knowledgeable regarding tax efficiency with our monthly bookkeeping reviews, ensuring your small business never pays more tax than required.
With Making Tax Digital set to be a legal requirement from 2023, reporting your business profits on HMRC will soon become even more time-consuming and challenging for sole traders and company directors. Our startup accountants use award-winning accounting software to accurately track your business expenses and transactions, guaranteeing you remain compliant with HMRC when these new rules are introduced.
If you’re a brand-new startup business, your journey with us may look a little like this:
1. Company Formation
Before setting up your startup business, consider the type of company you want to form. Your tax liabilities depend on your business structure, so it’s important to think carefully about the proper setup for you.
Our startup accountants offer professional advice on your company formation and whether you’re best suited to starting as a sole trader company or limited company for tax-efficiency purposes. We can help you with the paperwork required to set up your company on HMRC and Companies House, too, and even help you open a business bank account if you’d like as well.
Remember: You can always transition from a sole trader to a limited company at any point.
It may be best from a financial perspective for you to begin as a self-employed business owner before considering transitioning to a limited company a few years down the line.
2. Setup and Registration
Once you’ve decided on company formation and you’ve got started on HMRC and Companies House, you may need to register for the likes of payroll, VAT, pensions, CIS, and more. The size of your business and business plan for your first year of operation determines what you need to register for. If you’re a small business, a sole trader, or anything in-between, you may not need to worry about these things.
We can help you with the relevant registration requirements and make sure you’re well-prepared in advance of officially launching your business.
3. Raising Finance
Raising finance for your startup business won’t only provide you with financial backing but also grant you access to resources and business expertise, making it easy to grow within your network.
However, working with funding partners can feel daunting if you’ve never done it before. Fortunately, our startup accountants can help you partner with the right banks and funding providers for your business’s goals.
A Diverse Start-Ups Accounting Service
The process of setting up and managing a startup company can look very different from one business to the next. Your dedicated business startup accountant can help you to get the most from your own experience, whether you’re a limited company, an investment business, a sole trader, or another type of small business.
We know that some businesses are more specialist than others. For instance, insolvency, audit, or investment business work requires an authorised accountant for the job. So, we’ll make sure you’re paired with the right expert for the job. We’ve got you covered, remember?
With the experience and qualifications to work with your specific industry, your business startup accountant can manage your books and accounts in the most tax-efficient and profitable manner. Being a dedicated accountant, they’ll work with you closely and carefully as they fully understand your business along the way.
What Is Accounting for Startups?
For starters, accounting for startups involves accurate record-keeping of your business’s financial transactions and annual accounts. But, it may also include company formation on HMRC and Companies House.
What makes accounting for startups a unique accounting genre is that your accountant will help your business grow and evolve by identifying expansion opportunities. That is why we emphasise the importance of partnering our startup clients with their own dedicated chartered certified accountants. The latter will offer the best solutions to fit their clients’ needs over time.
What Accounting Services Does Mazuma Offer to Startups?
Mazuma offers the following routine accounting services for small businesses and startups:
- Monthly management accounts
- VAT returns
- Monthly payroll
- Statutory end of year accounts
- Corporation or partnership tax return
- Self-assessment corporation tax returns
How Much Does It Cost to Hire an Accountant for a Startup?
The cost of hiring an accountant depends on the work you require and the type of business you operate. For example, suppose you just need an expert to take over your monthly management accounts and manage your business transactions. In that case, you’ll pay less than if you need a more comprehensive service, including monthly payroll, VAT and tax returns, and more.
When you choose Mazuma’s accounting for startups, you’ll pay a fixed price per month based on the services you require. That’s reassuring because you know exactly how much to set aside for your accounting. No hidden costs, too.
How Do I Find a Startup Accountant?
Your most straightforward option is to search online. You can learn a lot about the quality of service from testimonials and, more importantly, customer reviews. We’d recommend doing your research about an accounting company before making anything official.
Hiring an accountant is one of the most important investments you can make for your small business. Choosing the right person for the job means you won’t have to deal with the hassle of switching accountants in the midst of running an expanding business.
Why Should I Choose Mazuma Instead of a Local Accountancy Firm?
Choosing between traditional, local accountancy firms and online accountants is a personal decision. However, keep in mind that some local companies may only work with certain startup business types. For instance, a company might specialise in working with a sole trader or limited company models and not offer the flexibility you require for potential growth as a small business.
You can generally get a much more affordable, flexible service from an online accountant for startup businesses, like Mazuma. We’ll provide you with a free consultation over the phone before we get started. On top of this, we also offer the convenience of online communication; we know how busy you are. In this way, you don’t have to meet us in person and lose valuable time you could spend expanding your startup.
What Happens if I Sign Up for Mazuma’s Accounting Service Part-Way Through the Year?
If you sign up with us part-way through the financial year, our accountants will likely need to play catch-up, ensuring your bookkeeping is up to date. For example, if you sign up with Mazuma in July, your first payment to us will be 4 times our monthly price to cover April, May, June, and July.
Don’t worry, though. You can split your catch-up payment over the first three months of your contract if you like!
Once you’re up to date, you just pay your fixed monthly price. To complete your tax return, we ask you to have been a client of Mazuma for one year or have made the equivalent of 12 monthly payments.
How Is My Quote Calculated?
The quote you’ll receive is based on the type of business you operate (sole trader – limited company – partnership) and whether you require extra work, like VAT returns or extra payslips. We will use your information to determine the average number of bookkeeping transactions per month and calculate your quote.
It’s quick and easy to get a free quote for our service. Click here to get started today.