New Business Set Up Services
Start your new business on solid foundations
A full range of accounting services for new businesses
Starting a new business is exciting, challenging, and sometimes a bit overwhelming. While you’re focused on your products, services, and finding customers, it’s easy to overlook the crucial financial and administrative foundations that will support your success.
At Smethurst & Co, we’ve helped hundreds of entrepreneurs turn their business ideas into thriving realities. We understand that most people don’t start a business because they love accounting and tax planning – they start because they’re passionate about what they do. That’s where we come in.
Our new business setup services are designed to get your venture off on the right foot, with the systems, structures, and advice you need to build confidently from day one.
Company formation - which is the right structure for you?
Choosing the right business structure is one of the most important early decisions you’ll make. It affects everything from your tax position to your personal liability and ability to raise funds.
We’ll guide you through the options – sole trader, partnership, limited company, or LLP – explaining the pros and cons of each in relation to your specific circumstances and goals. We don’t push everyone toward incorporation; we recommend what’s genuinely best for your situation.
If a limited company is the right choice for your venture, we’ll handle the entire formation process:
- Company name availability checking and reservation
- Preparation and filing of all incorporation documents
- Creation of appropriate share structures
- Registration with Companies House
- Set up of your company’s statutory registers
- VAT registration if appropriate
- Subcontractor and contractor registrations if required
- PAYE scheme registration if you’ll be employing staff
Unlike online formation agents who simply process paperwork, we ensure your company is set up with a structure that supports your long-term business goals and tax position.
Effective tax planning from day one
The decisions you make at the start of your business journey can have significant tax implications down the line. Our proactive tax planning helps you establish the most efficient structure..
We’ll work with you to create a comprehensive tax strategy that considers:
- The most tax-efficient business structure for your situation
- How to extract profits in the most advantageous way
- Timing of expenditure to get the best tax relief
- Available tax incentives and reliefs for new businesses
- Strategic timing of your business launch
- VAT registration timing and scheme selection
With considered tax planning from the outset, you’ll avoid costly restructuring later and ensure you’re keeping as much of your hard-earned money as possible while remaining fully compliant.
Bookkeeping & VAT returns
Solid bookkeeping is the foundation of financial control in your business. We’ll help you establish effective systems from day one, saving you from the common nightmare of playing catch-up months later.
Our bookkeeping setup and support services for new businesses include:
- Implementation of appropriate bookkeeping systems tailored to your business
- Training on maintaining basic financial records
- Regular review and cleanup of your bookkeeping
- VAT return preparation and submission
- Guidance on retaining proper documentation
- Systems for tracking business expenses
- Processes for managing supplier payments and customer invoicing
- Reporting templates that give you visibility of key business metrics
We can provide as much or as little hands-on support as you need. Some clients like to handle day-to-day bookkeeping themselves with our guidance, while others prefer to focus on running their business and leave the financial record-keeping entirely to us.
Accounts preparation
Even in your first year of business, properly prepared accounts are essential for understanding your financial position, fulfilling your legal obligations, and making informed decisions.
Our accounts preparation service for new businesses is designed to be straightforward and valuable. We will explain what the figures mean for your business and can help to identify any trends or areas of risk or improvement.
When your focus is 100% on getting your business up and running, knowing there is a safe pair of hands to look after your accounts and with your best interest at heart, is one less thing on your mind.
Business advice when it matters most
The early days of a business are filled with critical decisions that can shape your future success. Having experienced advisors in your corner can make all the difference.
We provide practical, down-to-earth business advice that goes beyond numbers on a page. Our team has guided businesses across countless industries, giving us insight into what works, what doesn’t, and the pitfalls to avoid.
So if you need to ask a ‘silly question’, or need advice on a specific dilemma or business decision you need to make, you can pick up the phone, pop in and see us or ping us an email and your contact will be happy to help.
Insights and Updates
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- Finances, Property, Tax
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Our pricing promise
We don’t promise to be the cheapest, nor are we the most expensive.
What we are is fair and competitively priced. Fair in our pricing, fair throughout the work we do for you, and fair in genuinely investing time to support you and your business.