business start up services - accounting service in birmingham business start up services - accounting service in birmingham

Business start-up

Starting up a new business can seem like a minefield. With our extensive experience in working with new businesses we can assure you that our advice will be tailored to meet your specific business goals and objectives. The links above will guide you through essential aspects of the start-up process, from preparing an initial business plan to developing an e-commerce strategy to give your business a competitive advantage. Please contact us to discuss how we can be of further service to the growth of your new business.

Starting your business and how we can help

The more forethought you can give to the job of running your business, the more likely you are to succeed. We can help you plan your business and answer some of the questions you should consider before you start.

Employed or self employed?

The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume they are free to choose, but HM Revenue & Customs emphasises that this is not the case.

Forming a limited company

Although you can set up a company by buying a company 'off the shelf', it is normally advisable to use a specialist formation agent. Because of the many options and pitfalls we also strongly recommend working with us on the new business venture.

Buying a business

Buying an established business that someone else wishes to sell provides a path that many follow to fulfil the desire to enter into business or expand existing operations.

Initial costs of starting in business

No one business is the same as another even if the product or service is similar. If you are starting in business it is important to avoid the pitfall of underestimating your start up costs.

Proving your credentials to investors

People don't invest in ideas: they invest in people. You can have the world's best business plan with a truly original idea that is guaranteed to make a fortune, but you could fail to attract investment if the people behind the idea do not inspire confidence.

The tax system for the self employed

If you start working for yourself, you must register with HM Revenue & Customs within the first three full months of self employment.

The tax system for companies

Details of corporation tax and company tax returns.


For a wealth of advice and information on aspects of VAT, including essential tips for VAT planning, and how to survive the VAT inspector's visit, visit our VAT guides.

Claiming expenses - it's all or nothing

The rules which determine what expenses can be deducted from profit for tax purposes are essentially the same whether you trade through a limited company or a sole trade or partnership.

Business deductions

In order to attract a deduction in computing the profits of a trade or business any expenses must be incurred wholly and exclusively for the purpose of the trade. Capital expenditure is not an allowable expense (capital allowances are claimed on these costs), and certain other expenses are barred by statute.

Choosing your accounting date

The rules still allow businesses a free choice of accounting date. Under the current year basis, the taxable profit for a particular tax year is determined by the accounts that end in that year.

Buying a franchise

Are you considering starting a new business, or extending your existing business interests? If so, have you thought about buying a franchise?

Buy-to-let properties

At one time, investing in buy-to-let properties was seen as a sure fire way to achieve long term growth. Many investors, deterred by the ups and downs of the Stock Market turned to investing in property as a safer investment haven.

Going into the construction industry

There are special tax rules affecting the construction industry, which are designed to ensure that tax is paid by workers in the sector whether they are employed or self employed.

Partnership agreements

Did you know that if you have no partnership agreement, then the Partnership Act of 1890 applies. The framework provided by the act is simple and straightforward, but does not deal with the many complications of trading a century after it was passed.


Even the strongest relationships can suffer in times of adversity. Good planning is an essential part of creating a successful business partnership.

Preparing your business plan

Failing to plan is the first step toward planning to fail.

Raising finance for your business

Raising finance for businesses following the credit crunch and the recession is challenging to say the least. If you are thinking of expanding your business, or starting a new one, you will need to raise finance.