I’m Thinking of Starting Up In Business – What Should I Consider?

BLOG14th Jun 2013

For those setting up in business, getting to grips with finances and making sure you stay compliant can be a real headache.

It is important to get things right the first time – the cost implications of getting it wrong can not only include HMRC and Companies House penalties and interest but also extra tax and national insurance by not choosing the most tax efficient business structure.

One of the areas which require consideration is the business form. Common forms of business are sole trader, partnership, limited company and limited liability partnership (LLP). There are tax implications for each and you should take advice from an accountant or tax advisor to find out what suits you and your business best.

For more information on what you need to consider when setting up in business, please do not hesitate to contact us.

How AAB can help you with

Business Advisory

Many businesses encounter challenges in implementing their strategies and generating traction. Our business advisory team provides effective tools for business owners at every stage of the lifecycle and approaches to overcome these obstacles. We offer guidance to help you achieve and maintain traction, while also ensuring accountability for you and your team. We can help you to understand your business performance and identify what you can do to improve profit and create time.

View our business advisory service

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