Starting a new business or taking over an existing business requires careful financial and tax planning. To ensure that you start your business on a proper footing, Sawhney Consulting, Certified Chartered Accountants in Wembley, can assist you to plan your business, by looking into the following:
• Sawhney Consulting, Certified Chartered Accountants in Wembley, can help you chose the right legal structure for your business. The most common forms of legal structure used in UK for businesses are; sole trader; Partnership; Limited Company; Limited Liability Partnership; Joint Ventures etc. It is important to select the right legal structure for your business as the tax and statutory implications will depend on the type of legal structure selected for your business. Sawhney Consulting will do the tax planning and discuss with you the general industry norms and your objectives of the business in order to select the appropriate legal structure for your business. We will also assist you to do the necessary formalities and correspond with authorities such as Companies House, Inland Revenue and H M Customs & Excise to fulfil your obligations and start the business with correct procedures in place.
• Sawhney Consulting, Certified Chartered Accountants in Wembley can help you to plan your business. We can assist you to prepare a business plan. The business plan will include a summary of the business review, forecast profit and loss and cash flow projections and assess the viability of the business. Such business plans are normally requested by financial institutions such as banks when applied for raising funds.
• Sawhney Consulting, Certified Chartered Accountants in Wembley, can help you to implement appropriate accounting and book keeping system. All businesses are required to keep adequate accounting records to support the business transactions. We can help you to select and implement appropriate accounting systems (Accounting Software – Sage , Tass, Quick books, MYOB, etc) for your book keeping, which will be suitable to your trading requirements and will also assist you to meet your obligations to prepare VAT returns, and year end financial statements.
• Sawhney Consulting, Certified Chartered Accountants in Wembley can help you to take over an existing business. Where you intend to take over an existing business, we can do the due-diligence work on your behalf to identify potential inherent financial risks attached with the business. We can advise you on the possibilities of reducing such risks and to re-structure the take over in a most tax efficient way. We can help you to identify the assets and liabilities of the business and with the help of professional valuers (where required) evaluate the net worth of the business.
Contact Sawhney Consulting, Certifief Chartered accountants in Wembley, North West London for all your Business Start-up needs.