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, opportunities and 'banana skins' 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 the jargon.

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 to make a decision 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 should be recording their invoices and receipts.

The directors explained they wanted to focus on growing their business and would rather this book keeping work was done by someone else.

On the spot recommended one of their trusted book keepers. The book keeper quoted for preparing PAYE and VAT returns, and monthly management accounts.

With on the spot providing tax advice, preparing the year end statutory accounts and tax returns and working with the book keeper, for a fixed fee, it's all covered!

Conclusion

The most appropriate people are doing the work they are trained and experienced in, and the directors are free to grow their business.