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Having the right advice when starting up a business is imperative to get ahead of the curve in your sector.

CMA, a source you can rely on

Small businesses and new start-ups are a constantly evolving sector of the UK economy. We firmly behind that such businesses are imperative to driving our economy forward, and our team of knowledgeable accountants are tailor made to offer the advice and support needed to quickly establish your business within your sector. Whether you require tax advice, payroll and pension knowledge, financial planning or any of the numerous considerations in operating a successful business in this sector, CMA are a source you can rely on to help.

Our team can offer a cost effective solution, ranging from statutory compliance and tax services to a detailed analysis and advice package to ensure your business is competitive in your target market. We pride ourselves on delivering a transparent, practical and specialist service to our clients, taking a personal approach to your requirements to make certain your business operates in the most effective way.

Challenges CMA’s Solutions
Business Structure – your business structure affects how much you pay in taxes, the ease at which you can raise finance, the paperwork you need to file to HMRC and Companies House, as well as the extent to which you are held personally liable. Limited Company vs Sole Trader – we will sit down with you to understand your business model, and your vision for the future. Whilst incorporating a Ltd Company creates a separate entity from your individual, you are liable to pay Corporation Tax on your profits. Any drawings you take out of the company are paid a dividend, for which you as an individual are liable to pay personal tax on. As a sole trader, there is far less statutory obligation and the profits are yours to keep directly. You pay income tax and national insurance contributions on your profits, which in the past made this option far less attractive. However, since the 2016 dividend tax changes were introduced, the differences in a tax sense are now fewer.
Accounts Software – with the number of accounting software’s and business support solutions on the market, selecting the most effective combination for your needs can be a challenge. Cloud Software - our team are experts on multiple cloud-based accounting solutions. A fully integrated software that makes use of the appropriate add-ons can be a powerful tool to drive your business forward.
VAT – the VAT laws in the UK are complicated, made so even more by the recent implications of Brexit. Registration with HMRC – we have worked with several new start-up businesses in our experience, and often new businesses can run into issues with the tax office, due to a lack of understanding when registering for various taxes and schemes. We can make light work of this for you, removing the worry and allowing you to focus on getting your big idea off the ground.
Taxes – one of the first things it is important to understand when setting up a new business, is the tax implications and various deadline dates. Tax Deadlines – our accountants are skilled in making the most complex information, into easy-to-understand schedules with a list of key dates and deadlines so you never feel like you’re falling behind.
Staff Payment – your employees are a key aspect of your business, particularly in supporting you as your grow. Ensuring that employees are paid correctly, and on time is imperative to building a solid team foundation. Outsource – allow us to take the burden of your financial compliance, bookkeeping, payroll and more, by outsourcing these time consuming and often overwhelming task to the experts. We have extensive knowledge in all core accounting and bookkeeping services, and are well positioned to relieve you of the stress.
Profitability – knowing how much profit you have made is vital in terms of the tax liabilities that will be associated, but also in having a clear understanding of the money available to be drawn out of the business. Bookkeeping Training – our team at CMA are experts at not only bookkeeping, but training inexperienced individuals into efficient, understanding bookkeepers. This allows a transparent view of your records all year round, and with readily available support from our team, you’ll be on a fast track to transparent, powerful and informative records in no time!
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