The decisions you make in the first few weeks of a new business - what structure to trade as, how to register for tax, which software to use, how to keep records - have a way of shaping everything that follows. Getting them right at the start saves a great deal of work, expense and worry later. I Sumar & Co help new businesses across the UK get set up properly from day one. As specialist accountants, we give you a foundation you can actually build on.
What Our Start-Up Service Includes
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Advice on the right structure for you - sole trader, partnership or limited company
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Company formation and registration with Companies House
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Registering you for the right taxes with HMRC
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Setting up your accounting software (Xero, QuickBooks or FreeAgent)
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Setting up a business bank account and bookkeeping system
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Advice on VAT registration and the most beneficial scheme
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Setting up payroll if you plan to employ staff
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Explaining what you need to do, when, and what we will do for you
Sole Trader or Limited Company - Which Suits You?
It is one of the first and most important questions a new business faces. The right answer depends on your expected income, the level of personal risk involved, your long-term plans, and how you want to be paid. The sole trader route is simpler to run; a limited company offers limited liability and can be more tax-efficient at certain income levels, but brings more obligations. We talk through both with you and recommend the structure that genuinely suits your situation. Current tax thresholds and rates are published at gov.uk.
Business Start-Up - Frequently Asked Questions
It depends on your expected income, your appetite for admin, and your long-term plans. A sole trader is simpler to run; a limited company offers limited liability and can be more tax-efficient at certain income levels. We walk you through both and recommend the right starting structure for your circumstances.
You need to register within set deadlines after you start trading, which differ depending on whether you are a sole trader, a partnership or a limited company. We handle every registration for you so nothing is missed. The current deadlines are at gov.uk.
You must register once your taxable turnover passes the VAT threshold, and you can register voluntarily before that if it benefits you. We will tell you which applies and handle the registration. Current thresholds are published at gov.uk.
Sole Traders
Limited Companies
