When it comes to going self-employed, one of the first big decisions you’ll need to make is whether you should set up as a sole trader or a limited company. Both structures have their pros and cons, of course, and you may even find that you’ll operate within either over the course of your business life.
There’s a lot to think about when you’re self-employed: managing your workload, balancing the books, looking for new work. Understanding which business expenses you claim as a sole trader or a limited company, though, needn’t be on that list.
“Hope for the best, but prepare for the worst.” It’s a saying we’ve all heard at one time or another, and depending on your disposition, it either sounds terribly pessimistic or fairly even-handed.
So you’ve started a new business. Great!
According to sources, Napoleon once said "L'Angleterre est une nation de boutiquiers" - “England is a nation of shopkeepers”. Whilst the number of shops on the average UK high street has certainly diminished greatly, we may well still be a nation of entrepreneurs.
Formed a company but not sure what to do next? No problem adventurers.
We are delighted to announce that Michael Edoimioya, a MadeSimple company formation expert, is to head up a new Wholesale Account Management division.
From time to time you may need to add new shares to a limited company. This is something that we can help with through our ICAEW accredited company management system.
If you’re someone who manages multiple limited companies, such as an accountant, you might find yourself struggling to navigate your way around all of them. Thankfully, your Company Formation MadeSimple account displays them all in an easy to view list.
[caption id="" align="alignright" width="300"] Importing companies on to our system is simple[/caption] Our Company Formation system allows you to import companies on to it that weren’t formed by us, for free. Why would I do that?
[caption width="275" align="alignright"] Your Start Up Toolkit [/caption]Starting your own company is a very exciting time; however it can be confusing deciding where to turn first. The free Business Start Up Tool Kit is designed to help you make those first tentative turns.
While there is no legal requirement for limited companies to employ an accountant to look after their affairs, there are a number of reasons why the vast majority of limited company owners opt to use accountants instead of taking charge of their own record keeping and tax affairs. An accountant can be relied upon to add considerable value to your business; preventing errors, ensuring accurate year-end statutory accounts and reviewing potential tax savings.