Business Setup
Get in touchAt Professional Accountants, we specialise in guiding entrepreneurs, sole traders, and limited companies through every stage of business setup and across the UK.
Whether you’re launching your first venture or restructuring an existing one, our expert team ensures your business is formed correctly, registered with the relevant authorities, and fully compliant from day one. With tailored support and a proactive approach, we help reduce administrative burdens, avoid early pitfalls, and set you up for long-term financial success.
What Are the Key Steps to Legally Set Up a New Business?
Legally setting up a business involves choosing the appropriate business structure (sole trader, partnership, or limited company), registering with HMRC, and, if applicable, incorporating with Companies House.
Other essential steps include setting up a business bank account, determining tax obligations (e.g. VAT or PAYE), and ensuring legal compliance based on your industry. Having a professional guide you through the process helps prevent delays, penalties, or compliance risks as your business grows.
What Does Business Setup Support Cost?
The cost of business setup support ranges from £150 to over £1,500, depending on your chosen business structure and the extent of professional assistance required.
Costs are primarily influenced by factors such as company formation, Companies House registration, VAT setup, payroll configuration, and any added services like tax planning, forecasting, or accounting software integration.
Contact Professional Accountants to get customised prices for launching your business with confidence.
Should You Set Up as a Sole Trader, Partnership, or Limited Company?
The right structure for your business setup depends on your goals, industry, liability concerns, and tax position. Sole traders enjoy simple tax reporting and control but face full personal liability. Partnerships share the same risks and rewards among multiple parties.
Limited companies offer greater protection and credibility but require more administrative oversight. A professional advisor can help assess your situation and guide you toward the most suitable option, ensuring both compliance and scalability.
Can You Get Help With Setting Up a Business Bank Account and VAT Registration?
Many advisors offer support in opening a dedicated business bank account and registering for VAT if your business setup reaches the mandatory threshold or if early registration offers strategic benefits.
They can help assess whether the standard, flat-rate, or annual accounting VAT scheme is right for your operation. In addition, they can guide you through the anti-money laundering checks often required by banks, saving time and stress.
Do Business Setup Services Include HMRC Registration and Companies House Filing?
Most business setup packages include all essential registration tasks, such as notifying HMRC of your trading status and filing incorporation documents with Companies House.
For limited companies, this process also includes setting up statutory registers, appointing directors, and issuing shares. For sole traders or partnerships, registration involves self-assessment and relevant tax schemes. A complete setup service ensures nothing is missed during this critical stage of your business journey.
What Are the Legal and Tax Obligations for New Businesses?
Legal and tax responsibilities for new business setups vary depending on your structure. Sole traders must register for self-assessment and track income and expenses for annual tax returns. Limited companies are subject to corporation tax, annual accounts filing, and Companies House reporting.
Additional obligations may include VAT, PAYE, and business insurance. Understanding your compliance requirements from day one helps ensure your business operates smoothly and remains on the right side of HMRC and the law.
Is Professional Business Setup Advice a Cost-Effective Way to Avoid Early Mistakes?
Professional business setup support is a smart investment. Common errors—such as registering under the wrong structure, missing VAT deadlines, or using incorrect tax codes—can lead to fines or increased liability.
By working with experts from the beginning, you not only avoid penalties but also receive strategic advice that supports long-term growth. In many cases, the upfront cost of support is significantly outweighed by the savings and clarity it provides.
Do Setup Advisors Provide Business Planning, Forecasting, or Software Support?
Many business setup consultants provide support with financial forecasting, budgeting, and cash flow planning—ideal if you’re seeking investment or want to build a sustainable model.
They may also help you implement digital tools like Xero, QuickBooks, or Sage for efficient bookkeeping and Making Tax Digital compliance. This kind of strategic input is particularly valuable in the early stages of growth.
Contact Professional Accountants for a consultation on getting business setup advice.