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Accounting for Start-Up Businesses

Why Choose Account-ease?

At Account-ease, we’re proud to be the go-to accountants for small business owners. We know that no two businesses are the same, which is why our comprehensive accounting services are tailored specifically for small businesses, just like yours!

Our personalized approach means that your dedicated accountant will take the time to understand the unique aspects of your business and how you operate. With Account-ease, you can expect services that are customized to meet your specific needs, helping you navigate the complexities of managing a small business with confidence. Let’s work together to make your business thrive!

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The Benefits of an Expert Start-Up Accountant

Starting your own business is an exciting venture, and many people have embraced the journey into self-employment recently. Being your own boss and working on something you are passionate about is an appealing prospect.

However, starting a new business can be challenging, with numerous factors to consider. We understand the unique challenges faced by start-ups, as we were once a start-up ourselves.

It’s crucial to ensure efficiency in all stages of your start-up’s development. Streamlining operations from the start, especially in accounting and financial affairs, can lay strong foundations and increase your chances of long-term success. An expert accountant for start-ups can be invaluable, helping your business start on the right foot. They can assist with registration obligations like VAT, PAYE, Corporation Tax, self-assessment, and CIS, as well as provide advice on key decisions to get your start-up off the ground.

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Choosing the Right Operating Structure

Choosing the right operating structure is a key consideration for start-ups. Self-employed individuals typically operate as sole traders or through a limited company, each with its own advantages and disadvantages.
For sole traders, things are simpler. You work, submit a self-assessment tax return declaring your income and expenses, and pay tax and National Insurance contributions on your profits. You’ll also need to register for VAT if your taxable turnover exceeds £90,000. This structure has fewer statutory and regulatory obligations, making it a quick and cost-effective way to start your business.
Setting up as a limited company creates a separate legal entity for your business, offering benefits like limited liability, which protects personal assets in case of financial difficulties. A limited company structure also allows for leveraging tax efficiencies by splitting remuneration between salary and dividends, potentially increasing take-home pay. However, it involves more complex setup and increased accounting and regulatory obligations, including IR35 and corporation tax.
Our accountants are experts in business structures, their advantages and disadvantages, and can advise on the best operating structure for your start-up.

Use Accounting Software

Once your company is operational, you'll need to invoice clients, track payments, and maintain accounting records. The easiest way to manage these tasks is by using accounting software.
All Account-ease clients receive full access to FreeAgent at no extra charge, included in our great-value fixed-fee accounting packages. FreeAgent, a multi-award-winning, market-leading cloud-based accounting software, is specifically designed for small businesses and the self-employed. It’s MTD-compliant and trusted by over 100,000 small business owners.
FreeAgent’s functionality and automation simplify previously time-consuming admin tasks, saving you valuable time as a new start-up. Self-assessment tax returns and VAT returns can be automatically calculated and submitted electronically to HMRC. The FreeAgent app lets you upload receipts and track expenses on the go. You can also create and send invoices, track unpaid invoices, and integrate payment gateways for secure client payments. Automated bank feeds help reconcile and categorize transactions with ease.
Your dedicated accountant at Account-ease will help you onboard FreeAgent and access your accounts, saving both of you time and effort.

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Work with an Accountant

As a new start-up, you’ll be busy getting your business off the ground and laying the foundations for long-term growth. The last thing you need is to be bogged down with accounting and admin tasks.
Account-ease provides expert accountancy services for start-ups, easing the pressure by managing all your accounting and financial needs. We offer unlimited support, advice, and strategic guidance to help your start-up thrive, allowing you to focus on core business activities and growth.
With Account-ease, you’ll work with your own dedicated accountant, offering unlimited support and advice. We’ll help you navigate the complex world of accounting and financial regulations, ensuring compliance with legal requirements.
This includes ensuring tax compliance, helping you understand your tax obligations, and filing submissions with HMRC accurately and on time. Avoiding the distraction and cost of late filing penalties or HMRC investigations is crucial for a start-up.
For a reasonable monthly fee, all your business accounting needs will be expertly taken care of, with expert support and guidance to help your start-up succeed.

Setting Up a Business Bank Account

For limited companies, a business bank account is a legal requirement. While not mandatory for sole traders, having a business bank account is beneficial for separating business and personal finances, making it easier to track expenses, calculate taxes, and manage cash flow. This also simplifies accounting and bookkeeping, especially when integrated with accounting software.
A business bank account can also help build a strong business credit score, which can open up access to credit not otherwise available.

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