Advice on new business start up costs, can you help?
I am looking to start my own small business and am confused about the best way to pay myself. I understand from my profit I will have to pay Corporation Tax, but what about tax on my earnings?
Also how much should I budget for accounts and book keeping?
That depends on whether you are a Sole Trader or a Limited Company. If you go Limited (which is usually best) then you pay yourself a small wage but take higher dividends.
The Book keeping will be charged at an hourly rate, so it depends how much paperwork your accountant has to sort out.
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