SHERWIN CURRID ACCOUNTANCY

If you’re thinking about working for yourself, setting up as a sole trader is the easiest way to get started. To help you make the jump from employment to being your own boss, we can advise on: Tax and National Insurance implications of being a sole trader Registering for self-assessment, and completing and filing your annual returns Practical and legal aspects of VAT, registration and accounting systems Business insurance Operating as a sole trader, versus other business structure options We offer a range of specialist financial advice for contractors and freelancers through our dedicated division SC Plus.

Forming a company brings many benefits, not least limiting your personal liability for any losses. But it also means complying with company law, bringing new complexity into your management processes. As specialists in accounting for small and medium-sized businesses, Sherwin Currid can advise and assist with all aspects of setting up and running your limited company, including: Company formation and registration with Companies House Running a payroll Setting up an appropriate VAT scheme Shareholdings, dividends and tax Completing and filing your statutory returns on time Incorporating an existing sole trader business

Working for yourself means taking charge of your own tax affairs, which can be intimidating if you’ve got used to your employer looking after them for you. We can offer practical help and advice on all aspects of personal tax, ensuring you comply with HMRC rules, and make all your returns and payments on time. We offer a range of specialist financial advice for contractors and freelancers through our dedicated division SC Plus. At Sherwin Currid, we also have particular expertise in tax for non-UK residents, and cross-border tax arrangements for expat individuals and businesses.

Administering your payroll takes up time, energy and resources you need for your main business activities. It’s also becoming an increasingly complex task, with potentially heavy penalties if you’re not fully compliant. Add subcontractors to the mix, and the administrative headaches only increases – especially if you’re covered by the Construction Industry Scheme (CIS). Under CIS, you’re responsible for reporting your subcontractors’ payments and tax deductions to HMRC every month, with big fines possible if you make a mistake. We’re here to help with all aspects of your payroll and CIS obligations, including: Managing PAYE, NI, Statutory Sick Pay, Statutory Maternity Pay and other taxes and benefits Completing statutory monthly and annual returns to HMRC Setting up and running automatic enrolment pension schemes Preparing and submitting your subcontractor monthly returns on time Administering the subcontractor verification process

If you have a business idea, but need advice on starting up, we can help. Besides accounting and tax compliance, we can give you guidance on business essentials such as Setting up a business bank account and arranging insurance Limited company formation versus sole trader Cloud accounting software and bookkeeping Connected apps for cashflow forecasting and industry-specific needs such as inventory Applying for investment schemes such as SEIS and EIS We offer a range of specialist financial advice for contractors and freelancers through our dedicated division SC Plus.

Managing your property rental can be a job in itself, so we aim to keep your accounting and tax duties as simple as possible. Whether you have a holiday let or a portfolio of tenanted properties, we can assist you with compliance. And if you plan to sell your investment property, we will be able to advise you on the capital gains tax considerations. We can recommend independent financial advisers, authorised and regulated by the Financial Conduct Authority, who will be able to help you secure a mortgage and inheritance tax planning. You can request a call back here.

If two or more of you are thinking of going into business together, a partnership can be a great option. It’s simple to set up and administer – you pay and tax yourselves like sole traders; and it’s a straightforward process if anyone decides they want out. You could also consider a limited liability partnership (LLP), which gives you limited liability for any debts in the same way as forming a company. We can help you with all aspects of setting up and running your partnership, including: Drawing up a suitable partnership agreement Registering your LLP with Companies House and HMRC Advising on your individual remuneration and tax arrangements VAT and other business accounting systems

If you’re going into business for the first time, buying a franchise has many benefits: a proven product and business model, a defined territory, marketing and promotional support – but it can still be a daunting prospect. At Sherwin Currid, we’ve helped clients acquire franchises in numerous different sectors and can offer you the long-term, individual support you need. We can: Review your franchise agreement Advise on company formation, VAT returns and franchisor reports Help you set up your accounts, payroll, and franchisor reporting in the required format Offer you peace of mind through fixed fees and guaranteed turnaround times