Thinking about changing your accountant or starting a new business?

Call Astons Accountants on 01582 459500 for the right advice, we're here to help

We will be pleased to hear from you if you want to start a new business and need to talk it through with an accountant to help assist you in making an informed decision.

Call Astons Accountants on 01582 459500 and speak to an expert.

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Which Type of Business

If you are thinking “I want to start my own business”, the first big decision is which type of business would suit you best.

Should you choose a limited company, an LLP, a partnership or become a sole trader?

If you are a freelancer or consultant you may be encouraged to operate through a limited company and so have the choice made for you.

This depends on a number of factors, including:

  • Size of business
  • Number of people involved
  • Self-discipline with finances
  • Profitability of the business
  • Cash flow of the business
  • Ability at record-keeping
  • Attitude to record-keeping
  • Image/status required
  • Other commercial activities
  • Need for protection of limited liability
  • IR35 issues
  • Lifespan/life expectancy of the business
  • Exit plans

You need to think about the options open to you as a small business, think about which accounting services you might need and then think about the factors listed above – and then come and talk to Astons Accountants and we will help you decide.

Many people get advice from “friends and family” but that is not always reliable, up-to-date or suitable for you in your situation. There is no “one size fits all” answer to this question, and it is never a good idea to assume that what is best for you is the same as what would suit someone else.

Someone due to retire would need different advice to a person setting up fresh from college.

The decision is yours, but you need to decide what is right for you and your business. Every case is different and there are no “hard and fast” rules. We will be pleased to hear from you and talk it through with you to assist you in making an informed decision.

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The team at Astons Accountants have prepared our Business Accounts for many years. I’m always surprised by the tax savings achieved and appreciate the timely and accurate accounts preparation. Mark’s advice is essential to our business and it’s for this reason that we consider Astons’ services invaluable.

A. Butler, Partner, Tonic Fusion LLP, Web Designers in St Albans, Hertfordshire