Workers soon to get right to ask to train

Employers are being reminded that new rules on the training rights of employees come into force in April.

Read more »
123 Wellington Road South
Stockport
Cheshire
SK1 3TH
tel: 0161 4772636
email: info@allensaccountants.com

Entrepreneurial Business Start-Up

OBJECTIVE

To provide assistance in establishing new ventures on an optimal foundation, based on the owner’s goals and objectives, tax considerations and future direction of the business.

Services inclusive of the following:

a) Choice of Business Vehicle

  • Merits of limited company versus sole trader
  • Under present tax climate, generally advisable to incorporate
    • tax projections of sole trader versus limited company based on forecasted profits

b) Company formation

  • Attendance at the first meeting of the company
  • Issuing the shares
  • Typing up and sealing the share certificates
  • Completing the statutory books and registers for the initial allotments and transfers
  • Filing the relevant paperwork with Companies House
  • Explaining your statutory duties and responsibilities in respect of the Companies Act
  • Drafting the first minutes of the company
  • Selection of the company year-end
  • Unlimited free telephone and e-mail support

c) Bespoke company action plan

To ensure no surprises going forward, includes:

  • Open a company bank account
  • Inform all relevant parties that the business is running as a limited company
  • Print the company letter heading
  • Maintain proper books and records
  • New business kit
  • Unlimited free telephone and e-mail support

d) VAT

  • Consider merits of voluntary registration (status of customers, turnover threshold)
  • Complete VAT registration form
  • Consider VAT flat rate scheme

e) Tax planning

  • Devise profit extraction policy to minimise tax liabilities (corporate and personal) using optimal mix
    of salary and dividends
  • Assist with monthly/quarterly dividend paperwork system

f) Corporate and personal tax

  • Inform the Inland Revenue about the status of the business (CT41G) and Allens agency
    authorisation (64-8)
  • Payroll: obtain PAYE reference
  • Company cars: consider merits of company versus personal ownership
  • Other expenses:
    Get as many contracts in name of company as possible (eg telephone)
    Discuss company versus personal distinction and P11D return of directors’ benefits
  • Corporation tax projections including application to reduce payments on account
  • Complete CIS registration form.

 

Your investment level £
1. Chettleburgh's Limited £156 (inc VAT)
New company package including:

  • Certificate of incorporation
  • Memorandum of association
  • Articles of association
  • Company register
  • Minute book
  • Share certificates
2. Share Reorganisation £275 (ex VAT)
To reorganise shares into A and B classes in order to allow differential dividend rights
3. Registered Office Facility £140 per annum (Ex VAT)
  • storage and insurance of company statutory books
  • maintenance of company statutory books
  • Companies House mail is sent to Allens enabling us to deal with it directly
  • reduces risk of failure to meet deadlines and levy of penalties
  • address on the public register will be separate from your home or office premises
4. Sole Trader (or Partnership) Conversion to Limited Company From £495 (ex VAT)
  • decide which assets to be transferred/retained
    • motor vehicles
    • plant and machinery
    • goodwill
  • valuation of assets to be transferred
  • capital gains tax computations on disposal of goodwill
  • drafting of business sale agreement
  • interest claim on directors' loan accounts
  • tax election to carry forward assets and stock at tax WDV
  • finalisation of cessation accounts
  • application to cease payment of self-employment national insurance stamp
5. IR35 Survival Kit
  • IR35 status review
£275
  • IR35 survival contract
£295
  • IR35 status dispute professional fee protection plan
£249 per annum
  • IR35 tax and NIC interest and penalties guarantee
from £949 per annum

ALLENS SERVICE GUARANTEE

Our work is guaranteed to the complete satisfaction of the customer. If you are not completely satisfied with the service performed by us, we will at the option of yourselves, either refund the price, or accept a portion that reflects your level of satisfaction.