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Business response to General Election on 8 June
In response to the announcement of a General Election on 8 June Carolyn Fairbairn, CBI Director-General, said:Read more >
9 May 2017
Changes to the PAYE Tax system using Real Time Information
HMRC have announced that from the end of May 2017 they will be using Real Time Information (RTI) to make adjustments to employee tax codes i...Read more >
7 May 2017
Class 4 National insurance u-turn
One of the significant announcements Chancellor Philip Hammond made on Budget Day was the proposed increases to the main rate of Class 4 Nat...Read more >
14 Apr 2017
Solihull Chamber survey surprises
Last week Kevin Johns, Prime’s Managing Director and President of the Solihull Chamber, hosted the Solihull Chamber Breakfast. The eve...Read more >
17 May 2017
What business can learn from sport
There are many correlations between Sport and Business, the planning and discipline that goes into being a successful athlete are equally ap...Read more >
8 Dec 2016
Be prepared, the National Minimum Wage rises on October 1st 2016
As of 1st October 2016 the National Minimum Wage rates for apprentices and different age bands will increase. Last year HMRC investigated mo...Read more >
28 Sep 2016
Unsure of which business structure would be most suitable for you? Here at Prime our team can provide expert advice and a swift company formation service.Read more >
We at Prime offer a full range of services to the overseas business looking to expand into the UK market, with significant experience acting for overseas-owned companies.Read more >
Our specialists at Prime can advise you if and when VAT registration is suitable for your business and help you to decide which VAT scheme is appropriate.Read more >
As a new employer, you will need to set up a Pay As You Earn (PAYE) scheme, our approach provides a tailored service delivering a totally outsourced payroll solution.Read more >
Shareholders agreements are entered into voluntarily by the shareholders to provide certainty, to avoid conflict and to protect their investment in the company.Read more >
Any business, large or small, is likely to face the unexpected at some time. Our Company Protection schemes provide you with complete peace of mind.Read more >
All new and established limited companies have to comply with the statutory requirements of company returns. Our Company Secretarial service ensures your compliance at all times.Read more >
If you are establishing a new company or developing an existing one, Prime's team offers a business planning service to help increase your profitability and performance.Read more >
Starting a Business
Starting up your own business is a big decision to make – it carries many benefits but also an equal number of risks. However, with careful planning many of the risks can be minimised.
Most people start a business because they have a good business proposition, and the enterprise and commitment to see it through, not because they are experts in the legal and financial aspects of running a business.
In fact, these matters can often seem daunting, and even off-putting, to the budding entrepreneur. The good news is that you do not need to be an expert in these fields to succeed in business. All you need is the support of a team of trained experts. That's where we fit in. Bring us your business ideas and we'll help you to evaluate them and put them into practise in a constructive and realistic manner. Read our blog about why people startup in business.
Before forming your company, Prime will discuss which business structure would be most suitable for you. Having managed hundreds of companys' formations, Prime is widely experienced in advising which business structure would best match your requirements:
Business planning is essential if you are to maximise the profit potential of your business. Prime Chartered Accountants offers a business planning service to help identify appropriate targets and set key measures for your company’s performance and profitability.
Should you be VAT registered? Until your business reaches the compulsory VAT registration threshold, you will have the choice to become voluntarily VAT registered. Whereas businesses reaching the compulsory threshold must make an application to become VAT registered with HMRC and subsequently file VAT returns.
As a new employer, you will need to set up a Pay As You Earn (PAYE) scheme with HMRC in order to submit Income Tax and National Insurance payments for your employees. Our guide, Payroll – Basic Procedures, gives a basic overview of what you need to operate PAYE, including which forms you'll need and key dates. Prime can assist you with this process if you wish to manage your company’s payroll in-house.
Getting the structure of your business right can have a tremendous effect on the amount of tax that you will pay over its lifetime, and when you sell or pass it on.
Every business needs a way of keeping its books. There are lots of systems to choose from, both installed on your computer or used online.
What systems will your business need?
Every business, no matter how small, needs systems both to enable it to comply with the regulations relevant to that type of business but also to provide the business owner with information about how the business is performing and to help him or her deliver their product or service.
Every new and established limited company has to comply with the statutory requirements of company returns. Our team specialises in all levels of Company Secretarial services which means your business can be assured of statutory compliance at all times.
Any business, large or small, is likely to face the unexpected at some time but you can reduce this risk by planning ahead, giving your company protection for the future. Whether your business is an LLP, sole trader, partnership or limited company, Prime’s Company Protection schemes provide you with complete peace of mind and are designed to match your business and personal requirements:
We provide a very comprehensive but cost-effective shareholders' agreement. Every company should have one. Get in touch and find out more.
A large number of overseas businesses have experienced the benefits of utilising Prime Chartered Accountants to form their UK operations. Prime has significant experience acting for overseas-owned companies and provides a range of company formation, accounting and advisory services.
Call Prime Today - we're here to help
If you wish to know more about our business start up service or would like to arrange a free initial meeting in order to discuss how we can help you in more detail please contact us today.
Coventry - 024 7651 8555 or Solihull - 0121 711 2468