Business Start-Up
Start-up accountants in Sheffield, supporting you from day one
You have the idea, the plan and the drive to succeed. The financial, legal and tax side of setting up a business can be harder to navigate, and early decisions can affect how much tax you pay and how well you're protected for years to come.
At Hollis and Co, our Sheffield start-up accountants guide new businesses through every step, so your business is set up correctly and compliantly from the start.
Choosing the right business Structure
The legal structure you choose is one of the most important early decisions. We'll explain the advantages, responsibilities and tax position of each option and recommend the one that suits your plans:
- Sole trader: simple to set up, with profits taxed through Self Assessment, but no separation between your personal and business liabilities.
- Partnership or limited liability partnership (LLP): suited to two or more people running a business together. An LLP gives members limited liability.
- Limited company: a separate legal entity with limited liability. It pays Corporation Tax on its profits and can offer flexibility in how directors take income.
Before you decide, we'll model the Income Tax, National Insurance and Corporation Tax implications so you understand what you're likely to owe and when.
Registering with Companies House and HMRC
Hollis and Co makes sure your new Sheffield business is registered for everything it needs, and nothing it doesn't. This can include:
- Company incorporation with Companies House, including identity verification for directors and persons with significant control under the Economic Crime and Corporate Transparency Act 2023
- Registration for Self Assessment or Corporation Tax
- VAT registration, including advice on whether voluntary registration could benefit you
- PAYE registration if you'll be employing staff or paying yourself a salary
- Workplace pension auto-enrolment duties
Banking and financial set-up
We'll help you prepare what banks need to open a business account and recommend cloud accounting software that fits your business. That way your records are organised and ready for Making Tax Digital from the outset.
Company secretarial services
Limited companies have ongoing legal obligations. We can maintain your statutory registers, file your annual confirmation statement, and record changes to directors, shareholders or your registered office, so you stay compliant with the Companies Act 2006.
Starting a new business in Sheffield? Contact Hollis and Co for a free initial consultation.
Our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax, whether you're considering investments, a second home, or another asset.
Every year, corporation tax rates and reliefs vary, so we make sure we can offer all the necessary assistance and advice when examining potential exemptions, allowances, and deductions. In order to make sure you are in compliance and avoid fines, we will carefully evaluate and produce corporate tax filings.
Whether you're considering investments, a second home, or another item, our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax.
We can help walk you through the complicated subject of personal taxation, we are aware that it can be challenging to grasp, therefore we support you every step of the way. By developing a tax planning approach that works for your tax situation and helps ensure you pay the least amount of tax, we eliminate the time and worry involved. Our staff will provide guidance on when payments are due in addition to what paperwork must be submitted and returned in order to maintain compliance.
[Company name] provide the following key services.
Latest news from [Company name]
The government has published a technical consultation on its new Founders’ Relief. The consultation itself provides an overview of the proposed qualifying conditions for it, including individual and company requirements and what must be satisfied. HMRC’s own figures, however, show that the strict conditions mean only about 600 individuals will be eligible to apply each year.
It’s bad news for mortgage holders and borrowers as the Bank of England (BoE) raises interest rates by a quarter point to 4% for the first time since August 2023.
If your company is involved in processing Overseas Workday Relief (OWR) elections and claims for 2025-26 Self Assessment tax returns, you might be facing problems.
Here are our top 25 changes that businesses should note from John Healey's first budget. Some of those listed may have already been announced but are now confirmed in the Autumn Budget.
Britain’s financial markets barely blinked following Wednesday’s Budget. The Chancellor, John Healey, began his first budget by targeting savers, property owners and banks.
HMRC are reminding businesses about two difficult payment deadlines.
The government-established Office of the Small Business Commissioner (OSBC) has been publicising its Small Business Plan that offers tailored funding to smaller businesses.
HMRC have concluded that the Cabinet Office failed to take reasonable care when applying the Off-Payroll Working (IR35) rules. The Cabinet Office has set aside £38.5 million for unpaid Income Tax, National Insurance and interest. A penalty of up to £8.9m could follow.
35 Wilkinson Street
Sheffield
S10 2GB
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