{"id":1360,"date":"2018-06-13T13:12:50","date_gmt":"2018-06-13T12:12:50","guid":{"rendered":"https:\/\/www.aysgarthaccountants.co.uk\/?p=1360"},"modified":"2022-04-13T22:04:24","modified_gmt":"2022-04-13T21:04:24","slug":"things-to-think-about-when-you-are-starting-your-own-business","status":"publish","type":"post","link":"https:\/\/www.aysgarthaccountants.co.uk\/things-to-think-about-when-you-are-starting-your-own-business\/","title":{"rendered":"Things to think about when you are starting your own business"},"content":{"rendered":"\n<p>When you are starting-up your own business you need to think about these things.Our first meeting with a new business-owner often covers the following areas:<\/p>\n\n\n\n<ul><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/which-trading-vehicle-to-use\/\" target=\"_blank\" rel=\"noreferrer noopener\">Which trading vehicle to use<\/a><\/strong>?\u00a0Generally this boils down to being self-employed or incorporating the business into a limited company.<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/choosing-a-name\/\" target=\"_blank\" rel=\"noreferrer noopener\">Company name<\/a><\/strong>?\u00a0is the name you want to use available? Does it contain sensitive words that you may not be allowed to use?<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/the-business-start-up-and-vat\/\" target=\"_blank\" rel=\"noreferrer noopener\">VAT registration<\/a><\/strong>.\u00a0How does Making Tax Digital (MTD) impact businesses and especially the rules for recording all transactions digitally.<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/the-business-start-up-and-corporation-tax\/\" target=\"_blank\" rel=\"noreferrer noopener\">Corporation tax<\/a><\/strong>\u00a0\u2013 how it is calculated and when it needs to be paid by.<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/self-assessment\/\" target=\"_blank\" rel=\"noreferrer noopener\">Income tax\u00a0<\/a><\/strong>\u2013 self-assessment and the 31 January deadline. Clients are also warned about the delights of Payments on Account. In essence beware of the \u00a31,000 tax level but there is an exception!<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/cloud-accounts-apps\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cloud Accounts Apps<\/a>:<\/strong>\u00a0our favourite is Xero but others to consider are FreeAgent, KashFlow and Intuit QuickBooks.<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/ir35-and-disguised-employment\/\" target=\"_blank\" rel=\"noreferrer noopener\">IR35<\/a><\/strong>\u2013 be aware of this ever-changing regulation.<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/tax-timing-differences\/\" target=\"_blank\" rel=\"noreferrer noopener\">The timing differences\u00a0<\/a><\/strong>between suffering a tax charge and paying the tax: just because there is \u00a31 left in the business account it doesn\u2019t mean you can take it!<\/li><li><strong><a href=\"https:\/\/www.aysgarthaccountants.co.uk\/there-is-no-such-thing-as-a-stupid-question\/\" target=\"_blank\" rel=\"noreferrer noopener\">We like to think of ourselves as the friendly approachable accountant<\/a><\/strong>.\u00a0We always encourage clients to contact us about anything that is troubling them, there is no such thing as a stupid question.<\/li><\/ul>\n\n\n\n<p>If you would like to find out more about setting up your own business, about being an entrepreneur, then wherever you are: whether in Leeds, Bradford, Wakefield, Harrogate, Wetherby or elsewhere in the country or <a href=\"https:\/\/www.great.gov.uk\/international\/trade\/suppliers\/07966484\/aysgarth-chartered-accountants\/\" target=\"_blank\" rel=\"noreferrer noopener\">even overseas and thinking of setting-up in the UK<\/a>,\u00a0please <a href=\"https:\/\/www.aysgarthaccountants.co.uk\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">get in touch<\/a>. And hopefully we have given you some things to think about when you are starting your own business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you are starting-up your own business you need to think about these things.Our first meeting with a new business-owner often covers the following areas: Which trading vehicle to use?\u00a0Generally this boils down to being self-employed or incorporating the business into a limited company. Company name?\u00a0is the name you want to use available? Does it [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1361,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[45,63,64,67,68],"tags":[47,48,57,58,50,49,51],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things to think about when you are starting your own business - Aysgarth Chartered Accountants Leeds<\/title>\n<meta name=\"description\" content=\"Here are some of the things to think about when you are starting your own business\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aysgarthaccountants.co.uk\/things-to-think-about-when-you-are-starting-your-own-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Things to think about when you are starting your own business - 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