Starting business in the UK - book recommendations
My side project is making some good money (closing in on 2K MRR) and so a few months ago I setup a Limited Company, got a business bank account, started using QuickBooks and running payroll.
This is the first company I've setup so I'm looking for a good guide (book or online) which can take me through these early stages.
The topics I'd like to know more about are:
- My obligations to HMRC
- My obligations to Companies House
- Running payroll
- What taxes I need to pay/can avoid
Really a general guide to setting up a (preferably SaaS) business and running it.
Any suggestions?
Lots of info online but get yourself a good accountant. A decent one will make sure you're all legal and save you money in the long run as there are many ways to skin a cat when it comes to managing the money in a business.
Congrats! What's your side project?
I'd recommend hiring an accountant – I did this when I set up my Ltd company and they've saved me way more money than I've paid them. They'll be able to advise on all this stuff and make sure you're running things in a tax efficient way!
Thanks for the feedback.
Any idea what I'd expect to pay to get an accountant in?
(the only accountants I know are paid very well!)
This comment was deleted 7 years ago
This comment was deleted 7 years ago
Wow! Many thanks for all the info. Looks like I've got some reading to do.
I guess I'll need to get an accountant in to help at some point but it will be good to have a baseline of knowledge before then.