How to Start Up A Service Firm in The UK
Getting Your Service Firm Started
At Spartan Group Accounting, we know that starting a new service business is an exciting though challenging time in any entrepreneur’s life. Finding your niche or specific service that you have the right business head to provide is only the first step. After these decisions have been made, you may be wondering to yourself; which step do I take next? Luckily, when you team up with expert service business accountants such as Spartan Group Accounting, we can help you breeze through the rest. This includes business, registration, business plans, and service agreements.
While there are many optional aspects to consider when it comes to your business, there are also non-negotiables. For instance, you have to register your company in one of a few specific ways. Additionally, each option comes with its own set of rules that you have to adhere to. Let us help you to take the stress out of figuring out how to start up a service firm in the UK.
Registration Step by Step
You will have to decide which type of company you will register your service firm as. This will depend on your personal preference, as well as potential business associates. If you are looking at starting your service firm alone, a sole trader option could work for you. However, you will be responsible for your business debt. You will still be taxed as an individual and don’t have specific, regulated duties. On the other hand, you could register as a limited company where your business liability starts and ends with the company. In these instances, you will have to ensure that you run the company in the manner expected by the Companies House.
Furthermore, you could register as either an LTD or LLP (limited liability partnership) if your service firm will be the product of more than one person’s hard work. Both options have their own set of rules when it comes to liabilities and duties. Making the right choice when it comes to business registration is much easier when done with the help of an expert small business accountant.
Experienced Service Firm Financial Services
Beyond the registration process, your new service firm will also need to ensure that your financial record keeping is up to date and accurate. Additionally, your statutory contributions and submissions are another area where expert advice will work in your favour. Spartan Group Accounting will work with you to establish good bookkeeping habits and ensure that your financial department is a source of excellent business advice. Our many years of experience in the service firm and small business accounting services give you peace of mind when it comes to your business accounting. This is especially important if your business plans to employ people under you at any stage.
Spartan Group Accounting can offer your new service business a tailor-made accounting solution that will cater to your individual needs. Our fixed-price accounting service packages also allow you to accurately budget for your financial services each month.
Get In Touch With SME Accounting Experts London
Spartan Group Accounting can help your service firm whether you provide catering, cleaning, tutoring, taxi, and any other service in between. Additionally, we can assist your new business even in the charity, e-commerce, construction, retail, or real estate sectors. We are small business accounting experts who can help you to navigate the tricky ins and outs of your sector’s specific accounting niches. We are based in London, but can effectively assist you remotely from further away if need be. Furthermore, our fixed fee accounting services allow you to confidently budget for your financial services without any nasty surprises on your invoice. Please also take a read of our article Benefits of Business Start Up Accounting
Get in touch with Spartan Group Accounting today if you have been wondering lately how to start up a service firm in the UK. We will find the perfect accounting solution to suit your individual needs and offer comprehensive fixed fee accounting services and products.
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