Start Ups
Starting a new business is an exciting and rewarding venture whether you’re a sole trader, limited company, partnership, or any other type of business, we know, we were a start up ourselves once.
Get StartedWhy do start ups need accountancy support?
New business owners think that one of the most daunting aspects of being a start-up is managing the financials. With so many other things to juggle when getting your business off the ground, the last thing you need is to face penalties for filing documents late, or get into trouble for submitting incorrect tax returns. There are a lot of traps you can potentially fall into as a new start up business.
As experienced start up accountants, we will take care of all of your accounting needs and be your long-term financial partner throughout your company’s lifetime. Having a knowledgeable and professional accountant for your start up business can be invaluable in helping you grow quickly and with stability as well as improving your bottom line.
How can our accounting services help you?
Jan McDermott Chartered Accountants are specialists in their field with many years of experience helping start up businesses with their accounts. Our chartered accountants for start ups are always on hand to support you with whatever you need, whether you need guidance with a specific tax element or want general, proactive advice on getting the most out of your accounts, we’re here to help.
VAT
If your business has a taxable turnover of more than £85,000 you should be VAT registered. It might even be beneficial to become a VAT-registered business if your turnover is under £85,000. Our specialist accountants can help you with all aspects of VAT.
Corporation Tax
Corporation tax is the main type of tax all companies have to pay in the UK. Normally, it must be paid within nine months and one day of the end of the accounting period and your tax return needs to be filled out accurately and submitted on time. It is extremely important that start up businesses understand their requirements for corporation tax.
PAYE
PAYE (pay as you earn) is an essential part of any business, whether you have one employee or 100. It is how HMRC collects income tax and national insurance from your employees, but the responsibility lies with you to make the deductions. This can become more complex as start up businesses grow and add more staff, which is why using professional accountants is important.
Xero Software
As Xero Partners we will set up your accounting system and provide you with training so that you can see where your business is at on a day to day basis.
How we help
Unlimited professional advice
Your dedicated start up accountant from our team will be on hand to answer questions and offer advice to support your business growth.
The personal touch
When you’re one of our clients we will get to know your business in detail to understand your challenges and help you overcome them with a warm and friendly approach.
Real-time data anytime you need it
Our financial capabilities mean you can have access to real-time financial data and key figures so you can confidently take your business to the next level.
Alan Robson
They provide us with a fully outsourced finance function so that our own team can focus on our business. They implemented Xero software from day one of the company meaning that we have real-time visibility of our business at all times, The monthly management accounts meetings we have with Jan really add value to decision-making and strategic planning and we wouldn’t be without them.
Peter Broxton
Their professionalism, expertise and client care are outstanding and they have supported our growing business no end. They look after everything from our bookkeeping, VAT, annual accounts, as well as claiming Research & Development tax relief, preparing budgets and forecasts and assisting with grant claims. The whole team are always responsive, friendly and reliable and we wouldn’t hesitate to recommend them to anyone looking for a trustworthy and efficient firm to look after their business finance requirements.
Scott Hackett
I moved my accounts over to Jan at the beginning of the year and have been extremely impressed with her attention to detail and precision. She’s made it easy for me to understand and manage all the key aspects of my accountancy, as well as offering useful suggestions of ways to improve and make things work more efficiently for me and my business. I’d highly recommend Jan and her team to anyone looking for professional, friendly, and reliable accountants that truly get to know you and offer a tailored service.”
Alistair Evans
Jan McDermott & Co have been our accountants for over 15 years and have not only ensured our accounting records are accurate and legal, but also provided us with first class advice to help us grow. They recommended our move to Xero accounting software which has revolutionised our business, allowing us to create predictable income through the use of Go Cardless Direct Debits, and streamlining our day to day accounting operations. Jan and her team are friendly, easy to work with and take time to understand a particular problem or situation. I wouldn’t hesitate to recommend them to any business that wants an accountancy firm they can grow with and depend on.