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- - - Limited Company Accounting All-inclusive limited company accounting services with fixed fees no matter what sector or turnover.
    - Partnership AccountingA partnership has a different organisation that a sole proprietorship or a company. So accounting for a partnership firm has some of its own peculiarities.
  - - Self Employed AccountingAre you a sole trader looking for affordable accounting services? We have expert sole trader accountants at a cost you can afford.
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- - - At Muhit & Co. we understand that all businesses are in different stages of different industries - that’s why we tailor all our services to the pertinent needs of your business.
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Business Startup

Expert advise & assistance for startup businesses in London

Have an entrepreneurial spirit in you? Speak to one of our expert accountants for business startups and see how we can help you achieve your business goals.

A start-up business can be an intimidating prospect, with promising entrepreneurs all too often left to fend for themselves. HMRC is changing its tax rules often and it is very crucial to decide which status of the business is more suitable and tax-efficient for your business. We go through all the prospects of your business and help you decide the best possible outcome for you to start a business which may last for a very long time.

We are a London based accounting firm that understands what startups need from their accountant. Our services are designed to obtain desired outcomes and create value for our clients. We may not be the cheapest knowledge provider in the marketplace, but our focused driven services for startups are effective in their desired results.

Bookkeeping Done Right
An accounting system is only as good as the information you put into it. Let our startup accounting experts handle your bookkeeping from start to finish so you know your books are always in order and ready for that next investor presentation.

Keep in Compliance with Tax Preparation
Taxes can be scary, but we are always on-hand to make sure you file your annual tax returns and make your quarterly forecasts, so you can be focused on growing your startup instead of dealing with the HMRC.

Our Startup business accountants in London can help you overcome the regulatory requirements so that you can focus on growing your stratup.

Decide on the most suitable structure for your business – sole trader, partnership, or limited company
Prepare a business plan, cashflow projections, budgets, and trading forecasts
Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
Establish a good working relationship with your bank
Complete any registration procedures with Companies House and HM Revenue and Customs
Deal with company secretarial issues
Set up a recording system for your internal use and for complying with statutory requirements

What accounting method should I use, Cash or Accrual?

Accounting has two main methods; the accrual method and the cash method. These approaches impact how you record certain line items like sales and debts on your financial statements. There are advantages and disadvantages of adapting one method over the other, and is largely based on your business’ future plans.

Do I need to register for PAYE (Payroll)

Even if you have only one employee or you are a sole Director employee you should be registered for PAYE with HMRC and make all the relevant RTI submissions.

Do I need to be VAT registered?

You are required by law to register for VAT if your business turnover exceeds the annual registration threshold. You can also register for VAT voluntarily if it is beneficial for your business.

Should I open a separate business bank account?

Unless you’re a sole trader, you must have a separate business bank account under the new company name.

In the case of Sole Traders, separating your personal and business funds is a wise decision, even if you aren’t required to do so. Mixing personal and business funds can cause you to file taxes inaccurately, become disorganized, and overspend.

How should I structure my startup business?

One of the most pivotal decisions you will make when starting your business is choosing your business structure. You can structure your business to be sole trader, partnership, limited company (LTD), limited liability partnership (LLp). The entity you choose impacts taxes, liability, your control, and how to pay yourself from your business.

Some business structures are more complicated to manage than others. You may have significant filing and reporting requirements, depending on how you structure your company. Your accountant/business advisor should be able to determine your ideal structure based on your business goals and by considering the pros & cons of each.

Experts Accountants for Small & Medium Businesses in Whitechapel, Brick Lane London.

Muhit & Co Certified chartered accountants is a widely-established firm which has a network that spreads across London with an office located at Whitechapel in Central London . The firm has been established since 2004 with a team of qualified accountants and tax specialists who have various industrial experience. We work with a large number of local businesses, sole traders and Individuals helping them achieve their goals through our pro-active and informative service.

Business Startup

Expert advise & assistance for startup businesses in London

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