Either you want to set up Sole trade or limited company, We will handle all kinds of documentation and registration of your business

Taking the leap into entrepreneurship is exciting, but navigating the initial setup process can feel daunting. At HD Accountancy Services, we're passionate about empowering new business owners like you. We offer comprehensive support for both sole traders and limited companies, guiding you through every step and ensuring a smooth and successful launch.

Choosing the Right Business Structure

The first crucial decision is selecting the optimal business structure for your goals. We understand that understanding the strategic financial benefits of each option can be complex. Don't worry, we're here to help! Through personalized consultations, we will:

  • Analyze Your Business Goals

    We'll discuss your vision, projected growth, and risk tolerance to understand your unique needs.

  • Explain Sole Trader & Limited Company Structures

    We'll provide clear explanations of each structure, including tax implications, liability protection, and administrative requirements.

  • Recommend the Best Fit

    Based on our understanding of your goals and financial situation, we'll recommend the structure that best positions you for success.

Beyond Setup we are Your Ongoing Partner
Bookkeeping &
Accounting Solutions
Tax Planning &
Optimization
Strategic Financial Advice

Expert Support for Every Step of Your Startup

carefully listen to your plan

We carefully listen to understand your business
idea, goals, and vision
Discuss your background, skills, and experience to understand the reality of your business.

1

step
Sole trade VS Limited company argument

Explain different business structures Ex: sole trader, partnership, limited company. Advise you on the most suitable structure based on your situation and future goals.

2

step
Business Registration

Guide you through the necessary legal requirements, including business name registration, trademarks, licenses, and permits. Assist with the registration process, such as setting up a limited company with Companies House.

3

step
Opening a Business Bank Account

Advise on the importance of separating personal and business finances. Help you to choose a suitable business bank account and assist with the application process.

4

step
Setting Up Digital Bookkeeping and
Accounting Systems

Recommend and set up accounting software (ex- QuickBooks, Xero). Train you on using the software, Set up processes for invoicing, expense tracking, and some useful quick reporting.

5

step
Tax Planning and Advice

Explain the different types of taxes the business will be subject to (corporation tax, VAT, PAYE, CIS). Provide strategies for tax efficiency. Schedule regular tax reviews to ensure compliance and optimize tax planning

6

step
Funding and Finance

Discuss different funding options (loans, investors, grants). Assist with preparing loan applications if require. Advise on cash flow management and financial planning.

7

step
Ongoing Support

Schedule regular check-ins to review business performance and provide advice. Offer unlimited support via phone, email, text, and face-to-face meetings. Keep you updated on changes in tax laws and regulations.

8

step
Half-Yearly Tax Position Review

Conduct an annual review of you business’s financial health. Adjust the business plan, accounting practices, and tax strategies as needed. Plan for the next financial year and set new goals.

9

step
Ongoing Support

Review your business’s tax position mid-year to ensure no surprises at year-end. Adjust tax planning strategies as needed based on business performance

10

step

Thinking about setting up new Business?

Book your Appointment

Frequently Asked Questions

The timeframe for setting up a new business can vary depending on the chosen structure and complexity. Registering a Sole Trader is generally quicker, while Limited Company formation can take a few weeks.

We can help expedite the process and ensure all necessary steps are completed efficiently.

Yes, even as a Sole Trader, you'll need to register with HMRC for Self Assessment. This allows you to report your income and pay any taxes due.

We can guide you through the registration process and ensure you comply with all tax obligations.

The key difference lies in liability – Sole Traders have unlimited liability, while Limited Companies offer limited liability protection. Moreover, Sole Traders report business profits on their personal tax return. Limited Companies pay corporation tax on their profits.
Sole trade or Limited both involves different process to set up.