Bookkeeping advice when setting up a business?

I’m setting up a business.  What should I do around bookkeeping? When setting up a business it is important to make sure your bookkeeping system is suitable for your type of business – and also for your skills.  It should enable you to extract useful information (e.g....

Should I set up as a Sole Trader for my new business?

Not necessarily, a Limited Company can result in you paying less tax and – while a Company owner might lose their business – a Sole Trader (self-employed) can lose personal assets as well! See video. If profits are below about £12,500, acting as a Sole...

When/why/how to set up a PAYE scheme in your limited company

The vast majority of businesses, once they reach a certain size, operate as a limited company and at some point usually consider whether to set up a company payroll (by registering with HMRC for a PAYE scheme). There are two reasons why a company would set up a...

What is a Confirmation Statement?

A Confirmation Statement is a document that Limited Companies must file at Companies House each year – generally online using the ‘authentication code’.  It replaced the old Annual Return in 2016. It confirms if the statutory information is the same, or if there are...

Mortgage References for People in Business

Applying for a new mortgage or re-mortgage can be a stressful and time-consuming task for anyone. At least for people in full time employment there is a good chance that their income will have been consistent over the last few years. Unfortunately, people running...