Setting up a new business? You’ll need an accountant…

Many people start a new business thinking that they only need to involve an accountant in Bolton to prepare their accounts and tax returns at the end of their first year of trading. However, by failing to seek the advice of an Bolton accountant at the outset, you could be missing out on invaluable advice.

One of the issues that a qualified Bolton accountant will address with you before you embark on your venture would include preparation of a business plan. This plan will help you to properly understand and estimate future performance and cash flow.

Another area which should be carefully considered is the appropriate business entity. Your new business may be a limited company, a sole trader or partnership.  The correct structure for your business is imperative for many reasons, not least of all tax and you should seek professional advice before commencing to trade.

Accounting systems and computer software for a business in its infancy need not be complicated. However, putting the appropriate systems in place before trading is essential in order to monitor and control future performance and costs.

The provision of information to prospective lenders is also important. Almost all new businesses will need to borrow from banks or other lending institutions at an early stage. In order to successfully obtain such loan finance, the provision of information in a professional clear and considered form is essential.

Using a qualified and experienced Bolton accountant to help you plan and set up your business is an essential step at the beginning of your new business.

We’ve recently launched our LaunCHWorks package to help new businesses hit the ground running. Our package is dedicated in helping start-ups businesses with he help and advice they need.

For more advice contact Nicola Roby at CHW Small Business Accounting on 01204 534 031 or click here to contact us via our enquiry form.


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

DID YOU FIND THIS USEFUL?

Share it with your network:  

Want more great content?
Sign up to our newsletter

    Follow us

    Tweets by @CHW-accounting

    CHW-Accounting
    @chw-accounting


    Twitter: chw_accounting

    Read enough?

    Want to find out how we can help you and your business? Get in touch today and let's have a chat.

    WHAT'S THE NEWS?

    Grab a biscuit and a brew and read our latest news.

    15 July 2024

    Self-employed advised to check their NIC records

    by

    As a result of a processing error at HMRC, some voluntary class 2 National Insurance Contributions for the 2022/23 tax year have not been correctly recorded….


    Read more >

    29 May 2024

    VAT bank details fraud

    by

    Reports have been circulating in recent weeks that taxpayers’ bank account details are being altered on the HMRC portal without their consent or knowledge. This in…


    Read more >

    1 May 2024

    Where VAT is concerned, size does matter – for...

    by

    HMRC has recently lost a long running case over the VAT status of giant marshmallows with the Upper Tribunal ruling that they are not confectionery! Innovative…


    Read more >

    1 May 2024

    HMRC phone lines remain open but waits get even...

    by

    Last month, HMRC announced that its self-assessment phoneline will close between April and September every year following a trial of the move in 2023. Less than…


    Read more >

    1 May 2024

    Tax relief on travel expenses if you are working...

    by

    HMRC has had clarified it’s rules on when tax relief is available on travel expenses for employees who work from home. With the growth of flexible…


    Read more >

    YOUR CHALLENGES

    No matter what your challenge is, we’ve probably dealt with it before.



    Need an Accountant?

    Get in touch >


    Need an Accountant?

    Get in touch >


    Tax issues?

    Find out more >


    Tax issues?

    Find out more >


    Trying to grow your business?

    We can help >


    Trying to grow your business?

    We can help >


    Managing cashflow?

    We can help >


    Managing cashflow?

    We can help >


    Starting a business?

    We can help >


    Starting a business?

    We can help >


    Looking for funding?

    Need help with funding? >


    Looking for funding?

    Need help with funding? >


    Buying or selling a business?

    We can help >


    Buying or selling a business?

    We can help >


    Adopt the cloud?

    We can help >


    Adopt the cloud?

    We can help >


    What else can we do for you?

    We can help >


    What else can we do for you?

    We can help >
    CONTACT US

    Get in touch, no hard sell, just a brew, a biscuit and a chat.