Help With Business Start Up

If you are toying with the idea of setting up your own business then there is a lot to think about. Not just where your income is going to come from, but how should the business be structured, who do you need to notify, what your legal obligations are etc.

Before doing anything you should seek advice – to discuss the best set up for your circumstances, and to understand how this will be taxed. For example, as a partnership you have less opportunity to tax plan as all the profit is taxed each year on your self assessment, but as a limited company you will pay corporation tax but you can decide when to take the money out into your own hands. Also, legally if you are in partnership this can literally mean that your house is at risk whereas, as a director/shareholder of a company you are protected to the extent of your investment.

Don't go into anything with your eyes closed – speak to me first, and I will help you to confidently make the right decisions.

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