Start-Ups & Microbusiness

Startups are newly established businesses with innovative ideas or products that aim for rapid growth and scalability. They are typically characterised by a high degree of uncertainty, limited resources, and a focus on disrupting existing markets or creating new ones.

Micro-businesses are small-scale enterprises with a limited number of employees and low annual revenue. They are often owner-operated and serve local or niche markets.

Both startups and micro businesses play a vital role in the economy by fostering innovation, creating jobs, and driving economic growth. They face unique challenges and opportunities that require specialised support and unique challenges and opportunities that require specialised support and resources to succeed. We play a critical role in helping startups and micro businesses establish strong financial foundations, navigate financial challenges, and achieve their business goals.

Starting a new business is scary at the beginning of your journey, as you are haunted by questions of “How will I finance the hopes and dreams that I have, into reality?”, and “What are business expenses and how do they work in my business?”, and “what business structure should I have?” …. We help clear this all up and set our clients on the path to understanding.

We help our clients with these questions, so call us 01243 251625 and see how we can help you.

IR35 BUSINESS FORMATION CHOICE AND ADVICE

When considering business formation choices and navigating the complexities of IR35 regulations, the role of an accounting firm becomes crucial for contractors and businesses alike. IR35 legislation aims to determine whether a contractor is a genuine independent contractor or a disguised employee for tax purposes. This legislation affects how contractors set up their businesses, manage their finances, and comply with tax regulations.

Choosing the right business structure, such as operating as a limited company, sole trader, or through an umbrella company, can have significant implications on tax liabilities, legal responsibilities, and financial management. We specialise in IR35 so can provide valuable advice on the most tax-efficient structure for your specific circumstances, helping you comply with IR35 regulations while maximising your take-home pay.

The role we play in helping businesses and contractors navigate the complexities of IR35:

IR35 compliance reviews: Conducting thorough reviews of contracts, working practices, and employment relationships to assess IR35 status and recommend necessary changes to ensure compliance.
Tax planning and optimisation: Providing tailored tax advice to minimise tax liabilities while ensuring compliance with IR35 regulations and other tax laws.
Payroll services: Managing payroll processes, including tax calculations, deductions, and filings, to ensure accurate and timely payments while complying with IR35 rules.
Financial management: Offering guidance on invoicing, expenses, record-keeping, and financial planning to help businesses stay organised and financially healthy.

Get in touch with us: 01243 251625, info@platinumas.co.uk