Accounting for startups – Setup your Own Company in UK
If you’re looking for Accounting for startups in UK, we’re here to help. Many people are wary of taking a step forward because the country’s laws get hostile for new startups.
What Common Issues Does a Startup Face?
Apart from the nerve bending competition, the startup’s community faces trouble with international payments. Even if their payments are here on time, the expenses outweigh the revenue generated from new sales. Talk about keeping up with the challenges. We help you identify all the loopholes, and make sure you’re not spending more than what’s required. The same amount can be spent on other opportunities.
Let Us Help you Setup
How to register a company in UK from Pakistan is the main question. Here at ACCOTAX – Pakistani Accountants in London, we provide Accounting for startups for problems faced by Pakistani entrepreneurs, and we’ve come up with solutions. Let our accountants in London make things easier to understand for you. We’re friendly, proactive, young, and keep up with all the latest developments in your business to make sure you’re on top of your game. Please see the Step by step Approach. Here’s the plan for Accounting for startups:
- Set up a Limited company in the UK
- Open business bank accounts.
- Setup PayPal/Stripe or other accounts to get payments from international clients
- Grow your business and we will take care of all the accounting & Tax hassle.
Being a Non-Resident in the UK, get help from pros. Let’s take a look at the process. It might not take more than a day to establish a company as long as the information submitted is correct. Move on with the process.
- Provide us 2-3 names. We’ll help you figure out a name even if the name liked by you is taken.
- Get each director’s/Shareholder’s passport (first page)
- Proof of address of each director/shareholder i.e. driving license or a utility bill
- Registered Office Address – we only charge £120 plus VAT a year
- Service Address – Using our address will cost you £120 plus VAT per year.
- Any other directors/ Shareholder full name & address.
- Date of birth of each director
- Country of Birth of each Director/ shareholder ( for Security Purpose)
- Eye Colour of a Director/Shareholder (for Security Purpose)
- Share capital details – we normally Issue 1 ordinary share or £1 each to each shareholder
- The nationality of each Director/ shareholder
- The Occupation of each Director/Shareholder
- Contact Telephone Number of Each Director/Shareholder
- Principle Activity of the business
Please note the cost to set up a company is £100 plus vat ( £120.00). You might want to dig up on other company formation packages as well. Once you’ve submitted the information, the next step is to make sure we’ve submitted the information to the relevant authorities. We keep up with you during this process. We make sure that we keep on updating you throughout the process.
Step 2. Open up your own business bank account
Once the company has been set up, the next step is to open a business bank account. Accounting for startups guides you on how to take the first step. Try opening a bank account with the following banks.
- Transferwise Borderless
- Anna Business Bank Account
- Mettle by Natwest
- Starling Bank
- Revolut. com
If you want to open a UK company bank account non-resident, we can help you with the process. The upfront fee to open a business account starts from £300 plus vat (one-off) and then a monthly fee that is charged by the bank (minimum £50 plus vat per month). Some banks also offer partnerships, so you’ve got to work on your research.
Step 3. Setup PayPal/Stripe Accounts
Connect your local bank account to PayPal and start off with getting the money on hands.
Step 4: Run your business and leave the rest on us.
Sit back and relax while we take care of all your accounts. Once everything has been set up, Being a Chartered Accountants for Non-Resident in London, we will take care of everything on your behalf. We make non-resident company formation simpler for you. We offer competitive monthly packages for small business based on your business needs.
What are the requirements of a UK Limited Company?
Many accounting for startups has given a complete guide in relation to your responsibilities once you have a limited company in the UK. Please visit ‘’ requirements of a UK limited company guide’’. Should you have any questions, please feel free to contact us.