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Office: 01772 760554

Mobile: 07980 540890

 

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131 Roebuck Street, Ashton On Ribble, Preston, Lancashire, PR2 2JN

F.A.Q.

Frequently Asked Questions

I want to setup my business
If you want to start working as self-employed, you must register with HM Revenue & Customs, but first make sure you have a National Insurance Number.

After the registration, you will receive your Unique Taxpayer Reference (UTR) and HMRC will set up the right tax and National Insurance contributions records.

You should keep your UTR safe because you will need it when completing your Self Assessment tax return.

Take a look at our Business Start up section for more information.

When should I register for VAT?

You may need to register for VAT if you are doing business in the UK as an individual, a partnership, a company, an association, a charity, a local authority or any other organisation or group of people acting together under a specific name.

Registration for VAT is compulsory if your annual turnover exceeds £85,000 or you expect the turnover to be higher than that amount in the next 30 days.

However, it may happen that your turnover has exceeded the registration threshold temporarily.

How to setup a Limited Company

If you wish to trade and do not use a limited company you will be personally liable for the debt of your business.

If you have assets or savings they are vulnerable to a claim made against you. By trading through a limited company you are literally placing a limit on your liability.

That limit is the value of the company, including any money you may have invested in, loaned to or are owing to the company.

The company has a separate legal identity from its owners and directors.

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Accountants in Preston

With over 20 years of experience in accounting services, Leighton and Alexandra Matchett have built a solid and well known name around Preston and across Lancashire.

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