Business startup is most successful when you have experience performing the job that people will be paying for. The problem for most is they fall for doing a lot of things which don't contribute to the bottom line, getting better at your job. To help this, LBW provide business startup services.
LBW's business startup service focus on providing the most efficient vehicle for tax & company growth. LBW prefers to focus on contributing to relationships, rather than one-time clients, which means any services we provide will be for the long term. The way this works is to ensure we can tailor a solution around these key questions:
Self Employed Or Limited Company
There are a number of factors which will need to be considered before the decision is made as to whether or not the business should trade as an unincorporated entity or as a company. Some of these factors will be tax driven whilst some will be commercially based. Each individual case will need to be considered on its own merits. If the decision is made to trade as a sole trader or in partnership then H M Revenue & Customs will need to be notified. Failure to notify within 3 months of the commencement of the trade may give rise to a late notification penalty.
Forming a Limited Company
If, however, the decision is made to trade as a limited company it will be necessary to form the company. Companies can be started from scratch or alternatively purchased “off the shelf” and if the name under which the company was formed is not suitable it can be changed to the preferred name providing that name is both available and acceptable. Alternatively, a Limited Company can have a trading style being ABC Limited t/a XYZ. This trading style can be anything chosen by the company owners. The website at Companies House contains more details on the obligations of company directors and the other requirements of the company.