At Melanie Curtis Accountants, we support UK startups
Running a small business means juggling many tasks, especially managing finances. We are here to help you with various services to keep your finances in check and support your business growth.
We are expert startup accountants who provide cost-effective tax and business accounting services, including:
- Company formation advice
- Bookkeeping
- Accounting software
- Financial forecasting
- Financial statements
- Annual accounts
- Cash flow management advice
- Corporation Tax advice
- Payroll
- Personal and corporate tax returns
Want to know more about how our experienced and friendly team of startup accountants can help you start and grow your business? Contact us today.
Do you need an accountant for a startup?
While it’s not a legal requirement to have an accountant for your startup business, the most successful companies have an accountant to help them manage their finances and tax. A great accountant can help you through the challenges you will face during your business journey.
At first, you may think that hiring an accountant is expensive, but remember that a good accountant can save you money in many areas. They’ll be able to advise on tax reliefs available and allowable business expenses that could save money.
At Melanie Curtis Accountants in Wokingham, we are here to provide peace of mind, ensure accounting and tax compliance, and provide strategic advice, allowing you to focus on running your company.
Our tax and accounting services go beyond keeping you compliant. We believe in working closely with our clients to help them and their business to succeed.
When should I hire an accountant for my startup?
Hiring an accountant right at the start of your business journey can be a huge benefit. They can advise you on the best structure for your business, such as a limited company, LLP, or sole trader. Each structure will have advantages and disadvantages to consider.
Having an accountant from the very start will ensure they are there to help with company formation, advise on the best accounting software, and how to set up your finances.
Initially, you may only require a few core accountancy services, such as Companies House and HMRC filing requirements, including company accounts and Self-Assessment tax returns. Then, as your business needs grow, you may want to take advantage of more comprehensive services, such as payroll, tax planning, R&D tax, outsourced finance and CFO services.
Because every business is unique, we offer a wide variety of service options so you can determine the level of support you need based on what matters to you.
Our accounting approach for startup businesses
Hiring your first accountant can feel like a big step, but it’s one that can truly help you get your business set up right and elevate your startup. A dedicated accountant can help you navigate financial challenges, ensure you comply with all regulations, and offer insights to drive your startup forward. But how do you find that perfect fit?
Business structure advice
One of the first decisions most startup owners make is their business structure. How they set up their company will affect how it operates and how much tax they pay.
Four main UK private company structures exist: sole trader, limited company, partnership, and limited liability partnership (LLP).
We provide expert support on the best structure and explain the pros and cons of each for you to make an informed decision.
Tax planning and compliance
Tax efficiency and tax compliance are critical to the profit your business makes and the money you earn. Ensuring you report and pay the right amount of tax will help you avoid issues with HMRC and late filing penalties.
Our personal tax planning allows you to manage these earnings to make them more tax-efficient. We can help you understand your tax liability and the latest regulations, identify deductions and tax reliefs, prepare tax returns, and develop a customised tax plan based on your financial goals.
Our corporate tax planning advice can greatly improve your profits and company growth. It can help to reduce tax liabilities, maximise tax reliefs, and enable future growth.
Bookkeeping and VAT returns
Keeping accurate records and bookkeeping are essential parts of running a business. We assist with maintaining accurate records, bank reconciliation, accounts payable and receivable, implementing time-saving accounting software, and generating financial reports.
If you are approaching the VAT threshold or want to register for VAT, we advise on everything VAT-related, from registration to VAT rates and legislation.
Funding and investment support
Your business may sometimes require additional funding. With so many funding options available, getting it right and achieving your goals can be challenging. We can advise you on funding options, including banks, grants, and external investors, and help you find the right funding and investment support for your business.
Business advisory
Many company owners don’t understand business advisory services, which can include business planning, forecasting, financial modelling, profit improvement, funding, and growth planning.
Because we work with such a wide range of companies, we’ve honed our advisory services to support company owners with all their needs. Our friendly, approachable team will use their experience and expertise to support you with your ambitions.
Build your startup with Melanie Curtis Accountants
We understand that startups need an accountant who not only provides compliance services but can also support you in managing your business effectively, allowing your company to survive and thrive.
With our accountancy services, you’ll have your own dedicated accountant by your side every step of the way. Get in touch with us today.
Frequently asked questions about startup accounting
What accounting software should my startup use?
The right online accounting package can give you invaluable insight into your finances wherever you are and can help to improve performance. Accounting software allows you to connect and collaborate online with others, including your accountant, who can give real-time business advice.
We can advise you on the best accounting package for your business, help you implement it, and train your key people. Our teams are fully conversant with all packages.
What tax obligations does a startup have?
You will need to consider a raft of taxes as a startup business. Which taxes apply to you will depend on your business structure. You may need to consider Corporation Tax, VAT, Income Tax, dividend tax and National Insurance.
At Melanie Curtis, we’re all about making tax obligations less of a hassle. We provide expert advice and tax compliance services, and we help you meet your obligations and reduce your tax liabilities.
How does a business bank account work for a startup?
A business bank account separates your personal financial transactions from your business transactions. If you run a limited company, it is a requirement to separate your business and personal finances, and it makes sense to do this by opening a separate bank account. There is no requirement if you are a sole trader, but it is still good management to separate your finances.
As with a personal bank account, selecting the best account for your specific needs is important, but if you make the wrong choice, you can easily switch to another business bank account provider.
