Not much in the world of work gets anywhere near to the excitement and self-respect you can gain from running your own business. The first thing you need to know is being successful isn’t going to be easy and your going to need some help.
Choose your suppliers carefully and compare what they are offering on a like for like basis. Are you buying part of the solution or whole thing and is the price fixed or time dependent?
When you start making sales, you should start looking for an accountant if you have not already found one. Too many people wait until the end of their first year to find an accountant and that’s a big mistake. The problem is you won’t have had any ongoing advice and after your first years trading is over most of your tax bill is a done deal.
Warning: If you are a Limited Company you may also incur more penalties, if you have costs that could be classed as a benefits in kind or have an overdrawn director’s loan account or make a late submission of accounts. So please don’t delay getting professional accounting advice.
Using an accountant on an ongoing basis throughout the year can avoid these problems and needn’t be expensive.
Our packages start from just £25 + VAT per month for a sole trader or £75 + VAT per month for a Ltd Company and will save you a lot of time, tax and sleepless nights!