Ellis & Co Chartered Accountants Chester

Sole Proprietor & Partnerships

Starting a New Business

Working with a number of new and small businesses in Chester and Wrexham, Ellis & Co has identified the need to provide a comprehensive yet simple way to help you get your new business started.

Becoming self employed for the first time can be challenging, that’s why we’ve taken the time to put together the new business starter kit detailing all the information you’ll need to get your new business up and running successfully.

Existing Business

Once your business is trading successfully, experience has shown that the following core services can be invaluable to maximising the efficiency and profitability of both Sole Proprietors and Partnerships:

• Training in the use of computer based packages such as Sage Line 50 to maintain your accounting records and prepare your VAT returns and Sage Payroll to process your payroll.
  
• Preparing the annual business accounts and reviewing these with you.
  
• Explaining their meaning and undertaking ratio analysis to alert you to any significant annual changes.
  
• Undertaking a review of the last three years of your business and presenting a graphical display of the changes occurring, making recommendations on trends likely to have a major impact.
  
• Strategic planning to ensure profitable business growth including preparation of profit and cash flow forecasts.
  
• Providing a tax planning service to identify and minimise tax liabilities prior to the business year end.
  
• Preparing your self assessment tax return and notifying you of the liabilities well before the payment date in order to budget accordingly to maximise the available tax allowances.
  
• Help you decide whether to change the trading status of the business to a limited company.

Business Sales, Acquisition and Success

• Business acquisition advice and review service to assess the potential of the proposed business purchase.
  
• Planning the sale of your business with particular reference to the commercial and tax implications.
  
• Succession planning for the next generation by assessing any inheritance tax liability and arranging for its mitigation.

Additional Services

• Payroll service, Sage Line 50
  
• Financial services and legal advice