Starting up in business for the first time can be a bit daunting and the technical side can be time consuming and confusing.
Deciding on the right business structure plays a big role with regards to the protection you have under the law and will also drive how you will be treated for tax purposes. Getting the structure right from the beginning is extremely important
Kensington Mills can offer full support through this process.
We can help you decide on what is the best legal structure for your business and if required, we can set the company up at Companies House.
We can also thoroughly go through the way the new business will be treated for tax and the best ways to help minimise any liability.
We can also take care of any budgeting and financial planning requirements to help ensure that funding is available for planned activities and we can advise on the best accounting structure and systems going forward.
We are also look after any budgeting and financial planning requirements to help make sure that funding is available for planned activities and we can suggest the most suitable accounting structure and systems going forward.
Starting up a business for the first time can be confusing and take up a lot of your time when it comes to making the right decisions. .
Making the right decision about the best business structure for you has a big role to the protection you will gain under the law and will also decide how your tax responsibilities will be treated. This is why it is very important that you get your business structure correct at the start.
Kensington Mills offers 100% support with this process. We can advise you on what is the right legal structure for you business/company and if needed we can register your company to the Companies House.
Most people who start up in business do so because they have a good business proposition and the enterprise and commitment to see it through, not because they are experts in the legal, financial, and fiscal aspects of running a business.
Indeed, these matters can often seem daunting, and even off-putting, to the budding entrepreneur. The good news is that you do not need to be an expert in these fields to succeed in business. All you need is the support of a team of trained experts.
That's where we fit in. Bring us your business ideas and we'll help you to evaluate them in a constructive and realistic manner. We can also help you:
- Decide on the most suitable structure for your business - sole trader, partnership, or limited company
- Prepare a business plan, cash flow 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, Inland Revenue, or Customs and Excise
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements