At John Maguire & Co we can help you from day one. From advising you on your company structure and set-up, to helping you with book-keeping and finding you the best tax saving position.
We understand the implications of the different types of business ownership and are here to advise you right from the very beginning.
As a Sole Trader, we can offer you a number of accountancy solutions and although this is one of the simplest ways to get started in business, there are many processes that need to be followed to ensure a smooth tax assessment each year.
A business partnership shares control, responsibility and finances between two or more people. Partners would take on full liability for any debts incurred by the business and all profits would be shared equally. Ordinary partners also take on equal responsibility and decision-making in the running of the business.
Another option for your business structure is to operate as a limited company. This will provide access to a number of tax planning strategies and limited liability status but consideration should be given to the additional accounts that must be filed on behalf of Directors and shareholders which are open to public scrutiny.
There are advantages and disadvantages to each of these structures and consideration should be given to commercial risk, expected profitability, financing and of course tax planning preparation and VAT.
Why not contact us and see which one would be most beneficial to you and your business objectives?
We would be delighted to help you with a range of other activities that you will also need to undertake including:
- Preparation of your business plan
- Taxation business reports
- Profit projections
- Cashflow projections
- On-site/off-site book-keeping
- Bank and finance negotiations
- Central Statistics Office returns
- Tax relief schemes