Expert tips for start up businesses

WITH rising public sector job cuts, there has been a big increase in start-up businesses, and one Weston-based tax expert has given hints to those thinking of revisiting past entrepreneurial dreams.

In the last year there has been a 19 per cent increase in start up businesses across the UK, and John Mayer, from TaxAssist Accountants, has said that the first step is deciding whether to become a sole trader or a limited company.

He said: “You should seek advice on National Insurance requirements and exemptions and how to deal with HM Revenue and Customs.

“Tax breaks are available depending on the size of your business premises, equipment purchases and research and development spend and if your business has any ‘green’ credentials.

“The Government funded Solutions for Business could be a good place to access funding. We can point you in the right direction on all those issues as part of our free consultation process for small businesses.”

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