Start-up accountant

When you start your business, you must be thinking: “do I need an accountant for my small business”? The answer to this question is yes. The increasing complications in managing accounts and taxes for business has raised the need for a small business accountant. The world is going digital and so you should be too, and we are specialised in this. Our expert small business accountants are here to support you in every manner, from maintaining your books of account to filing accounts to company house.

Major Challenges faced by Start-ups

Finance

The first thing which comes into mind when starting any business is the word “Finance”. Many start-ups don’t have adequate finance to start their business and they are often not supported by banks and financial institutions due to a lack of security and capital investment. Capital is needed to fund software (or product) development, building network, marketing, office space, and much more. To get rid of these issues, new business accountants plays a vital role in arranging funds for you.   

Statutory Compliances

Apart from growing your business as a start-up, complying with laws and regulations are also equally important. As your business grows, its size increases and there will be a need to register your company, prepare accounts, submit taxes and much more. Therefore, you will need a start-up accountant who will take responsibility for all of these and you can concentrate on your business. Complexities in accounting and taxation are increasing day by day which need dedicated start-up accountants and tax professionals who will take away this pain, otherwise, if you are indulged in these things, it would be difficult to do justice with the growth prospects of your business.

Statutory Compliances

Lack of Planning

The majority of start-ups fail because they don’t plan. Planning is key to success and the main areas which require focus are branding, product development, marketing, staffing and funding. With the increasing competition for new businesses or start-ups which are emerging, your growth prospects could stop, so you need to have a great plan in place if you want to convert your start-up into a big bull. Our start-up accountant will develop an efficient business plan for you.

Digitalisation

The world is going digital and your business needs to adapt. We have talked about marketing but how will customer come to know about your product or services? Almost every person uses the internet today, so you need to reach them by market your product digitally. If you don’t use digital marketing channels you will stay behind. These digital marketing channels include email marketing, network marketing, social media marketing, search engine optimisation, and much more. You need to put your hands in everything to grow your start-up.    

Marketing

There are only two pillars of success in business: product and marketing. If you have a great product but nobody is there to procure it, then it’s ineffective to develop such a great product and have the whole business idea collapse. Marketing plays an important role; you need to understand that marketing doesn’t mean selling anything, rather it focuses on selling your product to your target customers. So, there is a common principle to success: “sell the right product to the right people at right time”.

How Can Tax Care help Start-up Companies?

Business Planning

Formation of Business

We can help you identify potential business ideas where you can set up your start-up company in the UK. These business ideas are based on detailed market and industry analysis since our new business accountants are expert in this. Based on this, we will advice you on the best strategies to implement so that you can grow your start-up.

Additionally, we will help you out in business registration, company formation, and fulfil all the requirements to be complied with HMRC and Company House.

When people will hear about your company, they will surely want to visit your website to know more about your company, its products and services, contact information etc. So, it's highly important that your website looks attractive and ranks on google search to get great traffic.

We will develop an attractive business website for your start-up to attract more customers. To help your website rank in google search, we will perform an effective search engine optimisation (SEO) for your website so that it gets more daily traffic which gets converted into customers.

Business Development Plan

Business Development Plan

Having a wide range of experience, we will develop a perfect business plan for you. While preparing your business plan, your start-up accountant will perform an in-depth analysis of your business model, financial planning, sales and marketing analysis, cash flow forecasts, profit & loss study, balance sheet analysis and much more.

Our business development plan will directly focus on your business growth, identifying expansion plans, and boosting sales for the long-term where we will guide you about the things which are not going well and provide solutions to improve them.

Furthermore, we will deal with all HMRC correspondence and advice you in accordance with HMRC requirements.

Digital Marketing

Digital Marketing

As with the business development plan, we will also formulate a comprehensive digital marketing plan for your company to sell your product. Our marketing plan consists of Google Adwords campaign, social media marketing, email marketing etc. We will analyse the results of these campaigns and, based on that, we will help you to know more about your business, your customers, your market, location of your customers etc. Also, google analytics will provide the brief details about the traffic on your website.

With this analysis, you will be able to target your customers more specifically. Understanding your customer behaviour will help us to formulate the best marketing mix strategy for your sustainable business growth.

Bank Account and Funding

Bank Account and Funding

Once you have set up your start-up company, its need a bank account for your business. We will provide all the documents that need to open the bank account.

Being a start-up entity, its very challenging to get the initial finance from banks and financial institutions. There are about 80% chances of your application being rejeced as you don’t have any security, past credit score or any due to any other reason. We offer you a step-by-step service to secure your start-up loan.

Accounts and Tax Preparation

Accounts and Tax Preparation

We will take care of accounting and taxation of your newly started business. Considering the complexities involved in taxation and accounting, we will serve your purpose of dedicated new business accountant for you. We shall submit the accounts to company house and tax returns (including VAT) to the HMRC without any non-compliance. Additionally, we will handle all communications received from HMRC and respond them. This will save your lot of time to invest in important business practices.

Website Design and Google Listing

Website Design and Google Listing

In the path of success, you need to have a great website for your start-up company.

Why You should Hire Us?

Cloud Based System

We are specialised in accounting and taxation with our cloud based software that increases the value of our clients’ business. Tax Care will simplify your accounting process and integrate them into one digital accounting system. This will eliminate stacks of papers and record them digitally. This cloud-based software has some unique features, including scanning your records and storing them in the software for 7 years.

Using this system, you can get any kind of analysis you want. Most importantly, your accounts and corporate taxes are prepared easily with no hassle.

Xero Vs Sage

Unlimited Business & Tax Saving Advice

We have expertise in business and tax planning led by our specialised and experienced professionals. You will be getting unlimited business advice and support to lower your tax bill. Your accountant will help in wide tax planning well in advance by claiming all deductions and allowances. He or She will explain you about the various options from where you can lower your tax bill.

Your Personal Accountant

Once you hire us, there will be an all-time personal accountant for you who will support you in every manner and one of the senior accountants will finalise the work. Your personal accountant will be a  start-up accountant or a new business accountant who has in-depth knowledge and experience about how newly started businesses work. They will resolve all your problems and advice you with best practices to be followed. Hence, you don’t need to send your records each time to your start-up accountant since they will have real time access to your records.

Also, a personal VAT tax manager will be assigned to assist you in planning your VAT and submitting the returns to HMRC. You can ask for any help from your start-up accountant and VAT tax manager in relation to any issue pertaining to accounting, corporate tax or VAT at any time.

How Tax Care Can Help?

Value Addition

Our vision is to ensure quality and value addition for our clients and that is the reason Tax Care is an award-winning accounting firm. Our team includes specialised professionals who have wide range of experience in accounting and taxation and possess required certifications. Their goal is to deliver best quality output and connecting small businesses with big affordable technologies.

Mobile Application

You can use our mobile application for your business purposes. For example, if you have incurred an expense recently, you can just scan that invoice and embed into our software by using your mobile. Once it’s done, the application will automatically analyse the receipts, enter the data and send it to your accountant. You can see the live performance of your business anywhere, at any time, using our mobile application and download any report or payslip on any device. It allows for great simplicity, monitoring your business performance, and saves a lot of time.

Free Reminders

Being new business accountants, it’s our primary responsibility to protect new businesses from any kind of non-compliance since it may lead to heavy taxes, penalties and fines. We ensure the timely compliance of your all statutory requirements (i.e. Corporate Tax submission, VAT submission, accounts submission and any other statutory filings). Our efficient automated tool sends free reminders prior to any deadlines to avoid any surprising penalties from HMRC, Company House or pension regulators.

Fund Management

If you don’t manage your finances, there is a high possibility of beaten by the market competition. As your start-up accountants, we will analyse your business operations and understand the flow of your expenses, incomes, assets and liabilities. This will develop insights on the available funds you will have in future, as well as how your expenses and credits may change. Accordingly, you will plan better for the long-term.

If you pay your employees more than £10,000 per year or £833 per month, your employees are likely to enrol onto the pension scheme. As an employer, you must pay 3% and employee must pay 5% of the qualifying earnings. This is an additional expense for the employer apart from employer NI.

We Have Great Answers

FAQ

Yes, Tax Care Accountants is a certified accounting firm with a valid practicing certificate. Particularly, the firm is fully compliant with HMRC Anti Money Laundering (AML) regulation requirements. Above all, every single client manager at Tax Care is a qualified accountant with industry experience who will be taking care of your business. Overall, the firm is regulated and supervised by the Institute of Financial Accountant (IFA) and HMRC recognised Tax Agent.

Overall, we work on the basis of a fixed fee with no hidden cost, you will know exactly what and how much you are paying for.

In general, most of our clients pay monthly by setting up a direct debit or standing order. However, you can also pay your fees by instalments.

Yes. Particularly, our clients are fully protected in case if there is a worst-case scenario of a huge loss.

We strongly believe the significance of the popular accounting quote “ behind every successful business there is a smart accountant”. At Tax Care we work as a virtual extension of your company in order to free up your time, we advise you on how to save money and provide you the key financial information in order to make informed decisions. We will simplify your payroll, accounting and financial functions of your business and integrate all in one system. That will help you to collect all relevant business information with one click. Your accountant can also help you analyze and understand your cash flow, so you can make better plans on how to work out your monthly budget, sale target, break-even etc. We make sure your employees are paid correctly while your business is compliant with HMRC requirements, pension regulator requirements, court order requirements.

Our accountants have over 5 years of experience in the SME business community and their expertise and knowledge covers all business sectors – whatever your business, we cover it.

Yes, we do. We fully understand the pressures that you are under and offer a wide range of commercial experience which can help with the development of your growing business. We believe a little growth in your business means a little growth in our business.

Properly projecting your business’s cash flow is as essential as creating an effective mission statement and living up to it. Tedious, detailed flow projections aren’t easy to wrangle, but that’s what you have an accountant for.

Your accountant should be able to help you develop an organised, effective cash flow model that allows you to adjust your operations in ways that help you survive shortfalls, as well as improve receivables and manage payables.

Particularly, as a member of IFA Tax Care Accountants must comply with continuous professional development regulation in order to keep up-to-date with current issues and regulations. We regularly attend various seminars and training workshop regarding recent updates on accounting softwares, finance acts and government regulations.

No, Tax Care Accountants will manage all aspects of your business financial activities so you can focus on running and growing your business.

In summary, a professional certified accountant will be dealing with you directly to meet all of your accounting and tax requirements. Overall, we work as a team and one of the senior accountants will finalise the work.

Altogether, you can contact us as many times as you want to. For example, you can contact us via telephone, email or face-to-face. Also, if necessary, we will visit you. In detail, we will explain to you the technical accounting terms and the accounting requirements in a simple language so you would know what to do and how to do it. Generally, our response time is 24 hours.

Above all, taxes are always part of running a business, and you can always look for ways to improve how you handle payments, deductions, record-keeping, and so on. Therefore, your accountant, the expert on tax laws and their constant changes, can give you the insight you need.

For instance, your accountant can help you answer questions like:

  • What are the latest changes in tax law that affect my business?
    When is the best time to make big equipment purchases?
    How can I best keep track of deductions?
    How can I maximise my tax savings?

This might seem like too simple a question, but clear, effective and frequent communication is the key to a healthy, beneficial relationship with your accountant. Establish early on how often you’ll connect, either in person, on the phone or online (via a video chat app like Skype, Google Hangouts or FaceTime). Decide together if you’ll meet weekly, monthly or bimonthly.

We strive to make our clients happy

So, let's be happy together

You may visit our website to know more about our Services & FAQs and Start-ups accountants.

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