Business Start-Up

The essentials of starting a new business are always based on a realistic business plan and adequate finance. Most new business owners when starting-up will no doubt start with a foundation of a solid business proposition and plenty of entrepreneurial spirit.  We help look after the legal and financial aspects of running a business or company formations.

With our combined years of experience, we can provide extensive direction and advice on starting up a business to ensure that the process runs as smoothly as possible and hassle free for you.
Whatever the size of business you are considering starting up we can provide vital advice on:

  • The form the business should take, sole trader, partnership, LLP, limited company, PLC
  • Company formation procedures
  • Preparation of projections, cash flow and business plan
  • Arranging finance
  • Bookkeeping tuition and implementing management procedures and systems
  • Tax planning

We advise that you do not risk getting caught out by any unexpected problems and come and see us from the start.  Coming to see us to present your business proposals means we can evaluate them in a constructive and realistic manner.


Company Secreterial

The company secretarial function for any business is often seen as an arduous task normally overseen by a family member or senior employee as Company Secretary. This can be met with issues as the designated Company Secretary may not have a full understanding of the duties they are required to undertake.

With our in-house expertise, we can ensure that statutorydeadlines are met; we will handle all your statutory obligations including the filing of accounts, annual returns as well as changes of directors and secretaries.  As part of the service, we manage all the paperwork required for the payment of dividends and dealing with share transfers.

Our full company secretarial services include:

  • Company formations
  • Preparation and electronic filing of statutoryreturns
  • Preparation of all documentation related to minutes and resolutions
  • Maintenance and storage of statutorybooks

 

VAT

Value added tax is not an easy subject to talk about.  Our aim is to make it as simple as possible for you to handle and understand.  It is seen as one of the most complex tax areas to be imposed on businesses. The VAT “goalposts” are constantly being moved as well as the ever changing stream of regulatory details. HMRC is constantly demanding more and more from businesses which add more stress on top of what you already have to manage.  It is our expertise and expertly trained eyes that help you make sure you do not miss anything and do not fall foul of the regulations.  We make sure you do not pay the chancellor any more than you need to.

Our efficient and cost-effective VAT service includes:

  • Assistance with VAT registration
  • Advice on VAT planning and administration
  • VAT control and reconciliation
  • Help with completing VAT returns
  • Processes put in place to avoid future issues with HMRC
  • Representing you at VAT tribunals

 

Estate Planning

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.
The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of the tax regime.

We provide a discreet estate planning service that includes:

  • Help with drawing up and reviewing your will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities.
  • We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.

 

Personal Tax & Planning

With the tax regime becoming more complex, and more focus being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.

We can provide you with year-round tax advice on:

  • income tax
  • capital gains tax
  • inheritance tax
  • trusts and estates
  • non-domiciliary tax issues

Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

Make sure you take full advantage of the tax saving opportunities open to you - call us today for a personal tax planning review.


Retirement Strategies

Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning.
Here are some important questions you need to ask yourself:

Exit strategies

If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?

1. Pension provision. Do you have an adequate pension in place? Do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

2. Savings and investments. Do you have the right balance between savings and investments, and is your portfolio split adequately between exposures?

3. Life assurance and long-term care. Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your family in your later years? We can help you answer all these questions and recommend solutions tailored to your particular needs.

 

Self Assessment

Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the Self Assessment regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!

The constant flow of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

We can save you a lot of time, worry, and money by handling your self assessment tax return for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.

We can act as your agent, dealing directly with the HM Revenue and Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.

 

Trusts & Executorships

Trusts are relatively easy and very tax-efficient way to set aside assets for future beneficiaries outside the inheritance tax thresholds. We can advise on the most suitable type of trust for you, set them up and provide a full range of accounting services for trusts.

We can also advise you on the preparation of your will, single or mirror. Where appropriate, we can act as trustees or executors.


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Our Office

Michael J Emery & Co Limited
22 St John Street
Newport Pagnell
Bucks
MK16 8HJ

01908 613562

michael.emery@mjemery.com

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