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STARTING A NEW BUSINESS

 

Cambridge has one of the highest proportions of start-ups and early stage businesses in the UK. For many new businesses across East Anglia, Cambridge is an attractive R&D hothouse of investors, incubator hubs, professional advisers and talent that provides the dynamic and collaborative environment that many start-ups require to flourish.

 

CKLG Accountants have been working in partnership with start-ups for over 30 years. So if you have an idea for a new business and you are ready to get started, we can help you tackle all of the accounting, tax and business planning challenges you encounter when starting a new venture.

CKLG Accountants

The best way to structure your business

 

When starting out, you will need to decide on the best way to structure your business. There are a number of options to consider, such as becoming a sole trader, a partnership, a limited company or, in some circumstances, a limited liability partnership.

 

Whichever business structure you choose, it is important that you consider all of the relevant business and tax implications before making an informed decision. We can assist you in making the right decision and we can advise on the right way to structure your business from the outset. 

 

Contact our Business Services team on 01223 810100 to discuss your options. 

Managing the financial data

 

Getting a new venture off the ground requires a lot of blood, sweat and tears. A great idea and a passion for running your own business is only part of the puzzle. 

 

Managing the day to day transactions effectively and having access to transparent, real-time, accurate financial data will make a significant difference to the success of your start-up.

 

With the Government keen on all UK businesses maintaining digital records (Making Tax Digital, MTD), we can guide you through the latest online accounting technology such as Xero, get you set up, and show you how to use it.

 

Contact Alex or Chloe on 01223 810100.

CKLG Accountants
CKLG Accountants

Cashflow management and accountability

 

A realistic business plan is essential for the growth and sustainability of any business regardless of its size. Whether you require first stage funding, are hiring your first employee or seeking investment in R&D, careful cashflow management and business planning is essential. 

 

CKLG Accountants work with an array of exciting start-ups in Cambridge and Suffolk, helping to formulate robust business plans and forecasts. We can help you identify opportunities for growth as well as highlighting where cashflow could become a problem, especially in the early stages. 

 

As your business grows and requirements change, we will adapt our partnership accordingly. We can support you on a monthly, quarterly or annual basis, and guide you through your cash requirements and decision making process to help you keep track of your budgets and forecasts. 

 

Give Alex and the Business Services team a call on 01223 810100.

Company tax planning

 

Keeping up to date with constantly changing and often complex company tax law can be a challenge, especially for start-ups.  CKLG Accountants can help you prepare for and manage your tax liabilities and responsibilities, allowing you to focus on running your new business.

 

FIND OUT MORE

 

 

CKLG Accountants
CKLG Accountants

End of year compliance

 

All businesses have to report their earnings to HMRC. For a privately held company and LLP’s, you have 9 months after the year end to file your accounts with Companies House.

 

We can ensure you are compliant with the Companies Act producing year-end financial statements. You will need to also report your results to HMRC and file a corporation tax return within 12 months of the year end. However, any corporation tax due need to be paid within 9 months and a day.

 

Individuals, partnerships and limited liability partners will have to ultimately report their earnings through self-assessment.

 

For guidance with your year end compliance procedures, please contact us on 01223 810100 

FROM THE BLOG