Most people starting up in business, whether it be self employed, in partnership or trading via a company do so because they have a good business proposition and the enterprise and commitment to see it through. However, they may not be experts in the legal and financial aspects of running a business and such matters often appear daunting. Fortunately you do not need to be an expert in these fields to succeed in business but you do need the support of a team of trained experts. Chalmers & Co can not only help you start your business, we can also be an invaluable resource to assist with increasing your profits, controlling your cashflow and managing your business.
Business Plan/Fundraising, Banks & Loans
The most significant reason to prepare a business plan is to help raise capital, however its preparation can often reveal weaknesses or uncertainties that need to be addressed. We can help you prepare this document, giving specialist advice and hints particularly from a fundraising point of view. We will be able to assist you as to who to approach and the best capital investment sources in the marketplace.
We can help you decide on the most suitable structure for your business, whether self-employed, partnership or limited company. Once decided, we are able to complete all the necessary documentation to register your business with HM Revenue & Customs and Companies House, including the implementation of company share structures with a view to tax planning.
Lack of cash flow is the biggest reason for business failure, which makes cash flow management crucial to your success. Our experience gained over many years has given us the ability to spot the warning signs early and advise on positive actions to improve your cash flow. We can prepare cash flow projections, budgets and trading forecasts if required.
We will advise you whether or not you should be registered for VAT and can help you to understand the benefits and pitfalls of VAT registration enabling you to make the best decision for your business. We can complete and submit your VAT registration forms for you and if required, prepare the necessary VAT returns.
PAYE & National Insurance
Employers are facing every-increasing obligations regarding the maintenance of their payroll records. We can offer invaluable advice about setting up and running your own payroll scheme and complying with Real Time Information and Auto Enrolment Alternatively, our payroll bureau can ease this burden for you and increase the time available to you to run your business.
Our advice will help your business to benefit from minimising taxation liabilities.
We can assist you in setting up your accounting records. We offer manual options for recording your turnover and expenses, including a cashbook or spreadsheets. We are also providers of the accredited computerised accounting system, Sage and can order your Sage product, install it and ensure you know how to use it effectively.
From your records we can prepare interim and year end accounts and monthly management accounts if required.
Acquisitions & Mergers
Whether you are buying or selling a business, merging or being taken over, our independent advice on investigating your target or managing your liabilities will be invaluable.
We can help with all aspects of business compliance and administration.