Knowle, Solihull · serving Birmingham & the West Midlands ICAEW Chartered Accountants & Registered Auditors

Accountants for start-ups and new businesses

New businesses need the right structure, the right registrations and a realistic idea of what tax will be due and when. We form companies for £99, set up HMRC and software from day one, and tell you honestly whether incorporating is right for you yet.

What usually goes wrong

These are the four things we most often find when a new start-ups client brings us their last couple of years.

  • You incorporated before you needed to

    If you draw out everything you earn, a company often costs more in filing and admin than it saves in tax, at any profit level. Plenty of people incorporate because it sounds more serious.

  • Nobody told you what to put aside

    The first tax bill arrives with payments on account attached, which can be 150% of what you expected. Knowing the number in month three rather than month twenty-two changes everything.

  • Your records started badly

    Personal and business spending through one account for the first year is the single most expensive habit a new business can form. It also fails MTD requirements.

  • You are not sure when to register for VAT

    Registering voluntarily can be worth it if your customers are VAT registered. If they are consumers, it usually is not. Timing it well is real money.

Start-ups: common questions

How much does it cost to set up a limited company?

Our formation package is £99 one-off, covering the Companies House fee, incorporation, share structure and HMRC registrations.

When do I need an accountant for a new business?

Ideally before you start trading, so the structure, registrations and record keeping are right from day one. Fixing a bad first year costs more than setting it up properly.

What taxes will my new business pay?

A sole trader pays Income Tax and Class 4 National Insurance through Self Assessment. A company pays Corporation Tax at 19% to 25%, and you pay personally on salary and dividends. VAT applies to both above £90,000 of turnover.

Talk to a chartered accountant, free for 15 minutes

No sales pitch and no obligation. Tell us what you do, we will tell you what you need, what it costs and whether Making Tax Digital affects you. If we are not the right fit, we will say so.

We reply within one working day · Monday to Friday, 9:00am, 5:00pm