TYPICAL INITIAL MEETING

BUSINESS STRUCTURES AVAILABLE

• Limited Company

• LLP

• Partnership

• Sole Trader

COMMERCIAL ADVANTAGES OF EACH STRUCTURE

TAX CONSEQUENCES OF EACH STRUCTURE

• Corporation Tax

• Income Tax

• NIC

• VAT

RECORD KEEPING REQUIREMENTS

RECORD KEEPING OPTIONS

• Software

• Cloud Based

• Excel

• Paper

GOVERNMENT FILING REQUIREMENTS AND DEADLINES

• What Do You Have To File

• When Do You File It

HOW YOU GET PAID – REMUNERATION STRUCTURE

• Salary

• Dividends

• Drawings

WHAT CAN YOU CLAIM – EXPENSES RULES FOR COMMON PROBLEM

AREAS

• Motor

• Subsistence

• Use of Home

FINANCE

• Own Funds

• Bank Loan

• Bank Overdraft

• Sales Invoice Finance

o Factoring

o Invoice Discounting

ORGANISATIONAL STRUCTURE

• What Are Your Strengths?

• How Will You Exploit These?

• What Other People Do You Need For Mission Critical Roles?

• Can You Outsource Any Tasks? o Accounting?

o Payroll?

o HR?

o Health & Safety?

OTHER ISSUES

• Pensions • Insurances Needed

o Public Liability o Employers Liability o Professional Indemnity o Goods in Transit o Directors and Officers

• Health Insurance • Critical Illness Cover • Income Protection