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Is it time to incorporate...?

A Manchester film production came to us through a recommendation back in 2014. At that time the business was a new start up and was being run from a desk in the living room. We helped the sole trader to get his bookkeeping and accounts in order by providing him with some easy to use spreadsheets and talking him through the whole process. By mid-2015, the business had grown enormously and was now taking on contracts with household names and regularly employing subcontractors to keep up with the level of work. We had a good chat with the owner over a cup of tea and biscuits; we talked about how incorporation would not only be more tax efficient now that the business had grown, but it would also been seen as more prestigious amongst the type of clients the business was trying to win. That afternoon a decision was made - it was time for the business to incorporate and become a limited company. This was a huge step for the owner/manager and something that he found incredibly daunting despite knowing that it was absolutely the right thing to grow his business.

Greenhalgh Accountancy was able to work with the owner manager and talk him through the process so that he fully understood what was involved. We guided him through the setup of his new limited company and worked closely with him using our knowledge of both his current situation and his future plans to value the existing sole trader business. Greenhalgh Accountancy worked to agree the business valuation with HMRC to ensure that no nasty tax surprises arose for the owner and that he was able to maximise all available tax allowances on the incorporation. We were then able to recommend bookkeeping software for the new company and ensure the set up was hassle-free. By using Greenhalgh Accountancy for the incorporation, our client was free to focus on growing his business while we ensured the structure of the company along with the financial administration was smooth running and set up effectively from day one.

If you are wondering if incorporation might be right for you, give us a call or drop us a line and we would be happy to discuss your individual situation.

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