At Coleman and Co, we provide a variety of accountancy services in Newtownbreda and the surrounding areas.
We have a team of dedicated financial advisors who can offer their professional knowledge on how to run your business efficiently. Coleman and Co can even offer start-up services to those considering starting up their own business.
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Starting a Business?
If you are a first-time business owner, we can answer any questions you may have. Our team are always available to guide you to running your business, including wages and tax management.
We work closely with all clients who own small and medium businesses, and ensure that they receive the best advice. Starting your own business isn’t easy, but our team at Coleman and Co are always at hand to provide you with the appropriate advice in order to guide you and enable you to grow as a business owner.
Benefits to Running a Sole Trading Business
There are many benefits to running a sole trading business and our team at Coleman and Co can provide you with the best advice and support.
Firstly, with being a sole trader, you can be your own boss and are in charge of the direction your business takes. This is the reason why many people decide to start their own business; you have full control over how your business operates. Setting up is very easy, as all you have to do is inform HMRC and register as self-employed. Registering with HMRC is very simple, and we provide a list of links to the appropriate forms.
Having your own business means you get to keep all of the profits your business makes, after tax. If you were in a partnership, or a limited company, you would have to share your money. On the subject of tax, you only need to carry out an annual self-assessment tax return and declare your annual profits and tax liability, which is something our accountants can help you with. You can also claim accountancy fees as a business expense.
As there is less annual paperwork to fill out, your cost of hiring an accountant will be significantly lower than that of a partnership or limited company. Rather than a balance sheet and cash flow forecast, we will complete a profit and loss account instead. However, to keep your business running smoother, it is recommended you carry out a balance sheet and cash flow forecast anyway, to ensure you know where the money is going.
Becoming a sole trader is becoming increasingly more common in this day and age, and Coleman and Co are able to make sure your business accounts are up to date, credible and reliable. We want to ensure that we give you the best starting chance in a very competitive market. If you are in Newtownbreda or a surrounding area and are considering setting up as a sole trader, and would like our advice and expertise, call Coleman and Co today.
Your Reliable, Local Accountancy Service in Newtownbreda
We have a team of professionals who can provide our accountancy services and put you on the right track to starting your own business. Call Coleman and Co for more information, on: 028 9266 3599.