New businesses

Cloud accounting services for new businesses

As a new business, it’s vital to build solid foundations from the outset. Our first step will be to work with you to decide the best structure for your business and to file any relevant paperwork with HMRC and Companies House. We will also set you up on Xero and equip you with any apps that will make running your new business easier. As you get going, we’ll always be available with practical advice and to answer any questions.

Services for New Businesses

Business Accounts

We prepare your limited company, sole trader or partnership accounts and ensure that you understand and gain real business value from them.

Business Advice

We will share our knowledge and experience as a trusted and supportive advisor to help you to grow your business and achieve your ambitions as a business owner.

Business Tax Returns

Whether it is Corporation Tax or a Partnership Tax return we ensure that your returns are completed accurately and on time taking full account of all available allowances.

Company Formation

We manage the entire legal process to form your company, appoint directors, issue shares and provide a bound copy of the requisite statutory books and registers.

Company Secretarial

Running a company involves numerous legal formalities at different points in the year. We focus on these and allow you to concentrate on what you do best.

Construction Industry Scheme (CIS)

We set up and support software and systems for businesses in the construction industry to ensure you comply with the rules and can be in control of your business and cashflows.

Digital Accounting Software

Simplify your accounting and access your numbers whenever and wherever you want with a bespoke software set up for your business, plus user training and ongoing support.

Making Tax Digital (MTD)

HMRC are seeking to deliver “one of the most digitally advanced tax administrations in the world”. We will guide you through this period of significant change to make it as straightforward and painless as possible.

Payroll

A high quality and flexible HMRC-approved payroll service to ensure your employees are paid on time and HMRC monthly and annual reporting is fully completed.

Registered Office Hosting

You may prefer to use our office as your registered address rather than your home address. We will receive official post from HMRC and Companies House and will act upon it immediately.

VAT

We help you to stay in control and comply with this seemingly simple but deceptively complex tax.

These are our standard services for new businesses. We can add more services as you need. Also included as standard is unlimited advice via phone or email whenever you need it.

How it works

What our new business clients think

Big thanks Ian, just completed my first year in business, from start up, to year end, Ian has supported me. Always willing to guide, patience is his virtue when it comes to dealing with "business newbies". He explains and gives confidence in systems and processes. Bonus is his fair and transparent costs, all in all top accountant.
Kevin Purcell
KP65 Services
Ian at Vertis Accounting has helped us set up a new company and all that goes with this, which is much more than we ever thought, in a step by step logical way explaining everything as we went along. Thank you again for all your help over the last couple of months, it has been brilliant.
Chris Kirk
D K Pools Limited

Qualifications

The Digital Difference

What sets Digital Cloud Accounting with Vertis apart from the crowd?

Get Paid Faster

With Xero, you can email invoices and your customers can pay you straight from the online invoice. Easier for your customers, quicker for you.

Work Anywhere

Because Xero is cloud-based, you can access your accounts from any internet-connected phone, tablet or computer. Stay up-to-date on the road or in the office.

Gain Visibility

Xero shows the real time numbers and has sophisticated and bespoke reports for tracking and analysing your figures. Keep up-to-date and make more informed decisions.

Save Time and Money

Xero automates everyday accounting tasks so you spend less time on accounts admin and more time on your business. Give yourself more hours in the day.

Reduce Paper

Xero stores all your paperwork digitally and automates accounting admin. It means no more filing cabinets for the accounts or boxes of receipts to store.

Have Peace of Mind

Because Xero is one of the world’s leading cloud accounting tools, you can be confident your data is robustly protected with multiple layers of security.

New Business FAQs

A sole trader business is where an individual trades as themselves and registers as self-employed with HMRC. Profits are subject to income tax in the individual’s name. 

A partnership is where two or more individuals form a business together and register as a partnership with HMRC. Profits are divided between the partners according to the agreement that they have made and then taxed on the individuals in the same way as for a sole trader.

A limited company is a separate legal entity from its owner(s). The owner(s) become shareholder(s) in the business. Profits are subject to corporation tax on the company itself and not its owners. When money is paid to the owners it is income in their hands and is subject to income tax.

This very much depends on the nature of the business that you intend to form. If the business is of a consultancy nature where you are using your expertise to advise others, then the investment may be very small indeed – perhaps just enough to purchase your IT equipment. If you were to establish a manufacturing business with premises, machinery and employees the required investment would be much greater.

As a director shareholder in a limited company it is normal to purchase a low value of shares – say £100 – and then to make a cash loan to the company in addition to this to finance the purchase of equipment. The reason for this is that you can repay the loan to yourself when the company generates funds. If all the money was invested in shares then it is much more difficult to withdraw this from the company.

For a small business the owner normally appoints themselves as the secretary. There are few responsibilities at this level of business except to be the person that receives official correspondence from HMRC and Companies House. The role of Company Secretary is more onerous in a large public limited company.

An accountant will be a trusted adviser who will ensure that you comply with the myriad of rules and regulations as well as paying the right amount of tax by claiming all of the allowances that you are eligible for. They will be a very good source of independent business advice. 

That said, if you are a sole trader you could run your business without the advice and assistance of an accountant if you wished to. You would need to prepare your own business accounts and self-assessment tax return which can be submitted on the government’s website. The same is true for a partnership but you will have to use a commercial online provider to submit your partnership tax return as this is not available on the government website. 

If you trade as a limited company you will need to appoint an accountant as the requirements for reporting to HMRC and Companies House are more detailed and the information has to be reported in a specific way in a digital format called iXBRL. Accountants invest in the software to report in this manner and it isn’t likely to be economically viable for an individual small company to buy this for itself.

Get in Touch

If you’d like to have a conversation about how Vertis Accounting and digital accountancy could work for your business, Get in Touch. We’ll look forward to hearing from you!