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Structures that suit your business
Having made the decision to be your own boss, it is important to decide the best legal and taxation structure for your enterprise. The most suitable structure for you will depend on your personal situation and your future plans. The decision you make will have repercussions on the way you are taxed, your exposure to creditors and other matters.
The possible options you have are as follows.
Partnership Services
Whether you work for a construction company, law firm, florist, financial institution, catering company, events company, retail or wholesale business, restaurant, or manufacturing industry. All of your partnership’s accounting and tax duties can be taken care of by Black and White accountancy.
Sole Traders Services
A sole trader is a person who owns and operates their own company. The sole proprietor is solely responsible for any obligations and debts that the business has, so legally there is no distinction between the business and the individual. Many people typically start out as sole traders before moving to work through a limited company once the business starts to earn a fair profit because it is the simplest way to begin and trade.
Limited Company Services (LTDs)
Limited companies shield your personal assets and wealth from bankruptcies, lawsuits, and other financial issues. Limited Companies start to be more tax-efficient with annual profits of around £30,000. To get direction and advice, consult our professional Black and White Accounting specialists.
Trust Account Services
Trusts can offer practical answers for wealth distribution and succession planning. They may also be able to lower both capital gains tax and inheritance tax in certain circumstances. In other circumstances, they can enable certain family members to efficiently receive income tax, reducing the overall tax burden on families.
Charity Accounting Services
The accounting, bookkeeping, and development services provided by Black and White to charities are extensive. Contact us today to schedule a free one-hour consultation to learn more about how we can help you.
Limited Liability Partnership Services
On April 6, 2001, a Limited Liability Partnership (LLP), a new category of a legal entity, was unveiled. It is neither a company nor a partnership. Similar to a limited corporation, it has unlimited legal capacity and a distinct legal identity, granting it the right to own property, employ people, file lawsuits and be sued, impose floating fees, and engage in other commercial activities including joining a partnership.
Individuals and Personal Tax
Our individuals and personal tax service provide top-notch, tailored tax advice created around your needs. It is a workable, accessible, and affordable digital tax solution. A proactive, educated personal tax adviser from Black and White Accounting can walk you through a review of your tax issues so you feel in control.
Clubs and societies
You may require aid and direction from time to time if you oversee the finances for a small club or society. Black and White Accounting is on hand to help you stay on top of your budgets, manage your funds for activities, and manage your receipts and payments for the accounting for your club or society.
Confused?
We understand that for many businesses having to grapple with accountancy, bookkeeping and finances can be a real headache, forcing your focus away from your passion. With over twenty years of experience together our dedicated team of industry professionals is happy to help clear things up.
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Get in touch
We’re all about making things as clear and as simple as possible – get in touch and find out how you can make a Black and White difference to your business accounting and finances.
Get in touch using the contact form below, tell us a little about yourself and put your mind at ease.
Contact Information
Our friendly team is on hand to answer any of your queries. We will contact you within 24 hours to discuss your requirements and give an indication of pricing. Alternatively, you can contact us via phone or email using the details provided below:
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INSIGHTS
Unearth useful news & insights for your business
We believe that information about how businesses can operate smoothly and efficiently as they can, should be available to everyone – our insights are here to help you succeed.
Tools & resourcesLATEST INSIGHTS
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Budget 2022 – Detailed Summary
The Chancellor of the Exchequer, Rishi Sunak, today announced changes to income tax, fuel duty and National Insurance in his 2022 Spring Statement, with a backdrop of forecast growth of 3.8% this year, eroded by forecast inflation of 7.4% this year and spend of £83b on debt interest alone. And this is before the full…
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Budget 2022 – Key Headlines
With a backdrop of forecast growth of 3.8% this year, eroded by forecast inflation of 7.4% this year and spend of £83b on debt interest alone, The Chancellor of the Exchequer, Rishi Sunak, today announced changes to income tax, fuel duty and National Insurance in his 2022 Spring Statement. However, many may find themselves somewhat…
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What protection do you have against a HMRC enquiry?
Each year HM Revenue & Customs (‘HMRC’) undertake an enormous number of tax enquiries into individuals and businesses to check they have paid the right amount of tax, both on a random and a selective basis. Since 2010 HMRC have strengthened their approach from this point of view and the general trend has been a…
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