Starting a New Business: The Right Advice and Support

Getting the right advice and support when starting a new company is essential for the smooth running and growth of a business. If you are looking to create a new business but don’t have experience in the legal or financial aspects, Taj Accountants can guide you through the process, step by step. Our team will assist you in every stage to ensure a successful launch.

Startup businesses & Company Formation

Our specialized Small Business Accountants team in East London has helped many clients grow their businesses into highly successful ventures. In the early years of these startups, Taj Accountants played a crucial role, offering expert advice and assistance when needed. Starting a business can be overwhelming, and it’s easy to overlook critical financial aspects. Our Small Business Accountants team can help you navigate the complexities of running a business, ensuring everything is in control.

Key Considerations When Starting Your Business

Here are a few essential questions you should be able to answer about your business:

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

 

Choosing the Right Business Structure

Structure is one of the key issues in business formation, and we are here to advise you on the best path forward. There are many factors to consider, including accounting and taxation. You typically have four main options: a sole trader, a partnership, a limited liability company, or a limited liability partnership (LLP). Each structure has different tax consequences and varying degrees of personal liability for business debts.

Understanding the Financial Implications

The timing of your accounting year-end is another important factor that can affect your tax obligations. The sooner you establish your accounting year-end, the better you can plan for tax payments. Taj Accountants can simplify these decisions by providing expert guidance on the most suitable structure for your business.

The Right Advice from the Start

At Taj Accountants, we will guide you through the pros, cons, ongoing filing, and tax implications of each structure to ensure that you make the best decision. We will help you set up your business the right way from the outset, ensuring that all procedures are followed correctly. This will enable you to make informed decisions that lead to the optimal tax position for your business.

Tailored Business Plans for Success

Once we determine the best structure for your small business, Taj Accountants will work with you to develop a business plan tailored specifically to your needs. This plan will be based on reliable, accurate, and timely information, setting you up for long-term success.