Business Case Study

We were approached by a new start up business who make digital programming for sporting events.  


The business owners are three individuals who have worked together before and who now want to jump from employment into a joint venture.

We have set up all their accounting and taxation compliance requirements.

Firstly we formed a limited company for them, using different classes of shares to accommodate the anticipated disproportionate distribution of profits.

Then we introduced them to HSBC - just one of the high street banks we have connections with - to fast track the set up of their business bank account.

Then we created a bespoke bookkeeping system for them, using the cloud accounting software Xero - this allows all three of the directors plus ourselves to see, in real time, their up-to-date accounting data.

We've set up and operate their monthly payroll, ensuring they each take a sensible monthly salary and benefit for the Government's £2,000 NIC payback scheme.

We have registered them for VAT, assessing that the use of the Flat Rate Scheme will provide an annual benefit of approx £2,540.  

We look forward to preparing their first annual financial statements and company and personal tax returns demonstrating their success in their first year of trade.  

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