Our specialized Small Business Accountants team in East London have many clients whose businesses have grown to become significantly successful, of which in the early years of starting up, Taj Accountants have supported and guided them, providing the advice and assistance when required.
You might be starting a business, ignoring some fundamental financial aspects that need to be considered. Our Small Business Accountant team can help you face the real world of business and make sure everything is under control. Below are just a few examples of the many questions you should be able to answer about your starting business.
There are four main options available to most new businesses: the simplest of which is a sole trader, while other options include formation of a partnership, limited liability company or limited liability partnership (LLP). Each structure has different tax consequences and different implications, for the extent of your personal liability for business debts. The date of your accounting year-end can also impact the level of taxable profits and how long you have before you have to pay any tax due.
At Taj Accountants, we can take the complexity out of the decisions you need to make in regards to the right structure for you. We will take you through the pros, cons, ongoing filing and tax implications to help you decide which is the ideal format for you. We can help you get your business set up on the right way from the outset, ensuring that all the correct procedures are followed. We will guarantee that your early business planning decisions are based on reliable, timely and accurate information, making sure you obtain the overall optimum tax position.
Furthermore, once we have found which structure is best suited for your small business, Taj Accountants will develop a business plan specially tailored for your needs.