Getting Advice

Why should I consult an accountant?

An accountant can provide advice and assistance on a variety of issues affecting the start up of your business, including:

  • What type of accounting system is needed and how to set it up.
  • Keeping proper books of accounts to meet relevant legal requirements. Many firms use accountants or bookkeepers to prepare their accounts for them, although there is a danger that managers of small firms can lose touch with up-to-date financial information if they pass on all of the responsibility.
  • How to organise the Pay As You Earn (PAYE) income tax contributions for yourself and any staff.
  • Whether you will need to register for VAT and the procedures involved.
  • The tax implications of running a business from home.
  • The tax implications of employing family members.
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