Case Study 3 - Set Up Of New Company

A start up business wanted to set up as a company, with three director-shareholders. They didn’t know how to go about this. They also needed advice on the tax implications of running a company.

From the information they had seen on the HMRC and Companies House websites they felt overwhelmed by the quantity of information and new things to understand. Most worryingly, they couldn't work out the various deadlines or what tax returns are required and when.

How have we helped?

on the spot visited their premises, understood their requirements and explained – face to face – what was required. The owners were able to ask any question they liked and were given as long as necessary until they were clear.

Due to on the spot’s advance planning, the company was set up online that day and on the spot provided the share certificates and registers.

As soon as HMRC sent the company's corporation tax code, on the spot used the reference to be set up online as the company’s tax agent.

on the spot also discussed how the directors would be recording their invoices and receipts. The directors explained they wanted to focus on growing their business and would rather this work was done by someone else. on the spot recommended one of their trusted book keepers who they regularly work closely with.

The book keeper quoted for preparing PAYE and VAT returns and monthly accounts, and on the spot for the year end statutory accounts and tax returns. Importantly, on the spot's fee included working with the book keeper, identifying issues and addressing them as appropriate, so there is a high quality focussed approach. The most appropriate people was doing the work and the directors were very comfortable all their requirements were covered.