Accountants for Business Startups in Mansfield & Retford
Practical accountancy support to help your new business start and grow with confidence.
Business Startup Solutions
Helping you start your business with confidence
Starting a new business is exciting, but it also comes with a lot of decisions. From choosing the right structure to registering with HMRC and setting up proper financial systems, getting the foundations right from day one is essential.
At Mercury Accountants, we help new business owners start with confidence by providing clear advice, practical support, and proactive accountancy guidance from the very beginning.
Tailored Service
Supporting Your Business From Day One
Launching your business is a thrilling journey, and at Mercury Accountants, we’re here to ensure your startup takes off on solid financial ground. Our tailored accountancy services for startups are designed to provide comprehensive support, allowing you to focus on building your business while we handle the financial intricacies.
As a new self employed person is can be daunting, Mercury put me at ease and explained the requirements for my accountants clearly. Would recommend to anyone starting their own business.
Business Startup Services
How We Help New Businesses Get Started
Starting a business comes with many important decisions. At Mercury Accountants, we help new business owners put the right foundations in place from day one, ensuring everything is set up correctly, compliant, and ready for growth.
Business Structuring
Expert guidance on choosing the right business structure, whether that’s operating as a sole trader or forming a limited company.
Companies House Setup
Support with registering your limited company with Companies House, ensuring the incorporation process is handled correctly from the start.
HMRC Registration
Handling HMRC registrations so your business is correctly set up for Self Assessment, Corporation Tax, and VAT where required.
Financial Planning
Tailored financial planning to hyelp your new business stay organised, manage costs, and plan for suitable growth.
Tax Compliance
Ensuring your business meets its tax obligations while helping you understand your responsibilities and avoid unnecessary penalties.
Bookkeeping Services
Setting up reliable bookkeeping systems so your financial records remain accurate, organised, and easy to manage.
Software Integration
Helping you choose and implement accounting software such as QuickBooks or Xero to streamline your financial processess.
Cash Flow Management
Providing guidance to help you manage cash flow effectively and maintain financial stability as your business grows.
Startup Consulting
Practical advice and ongoing support throughtout the early stages of your business journey.
BUSINESS STARTUP FAQ’s
Common Questions From New Business Owners
Should I start as a sole trader or a limited company?
The right structure depends on your income, long-term plans, and how you want to manage tax and liability. Many businesses start as sole traders because it’s simple, but forming a limited company can offer tax advantages and greater protection. We help you choose the structure that best suites your situation.
Do I need to register with HMRC?
If you start trading as a sole trader, you must register for Self Assessment with HMRC. If you set up a limited company, it will need to be registered for Corporation Tax. We ensure all necessary HMRC registrations are completed correctly so your business remains compliant from the start.
Do I need to register for VAT?
You only need to register for VAT once your turnover exceeds the VAT threshold, which is currently £90,000 per year. However, some businesses choose to register voluntarily earlier depending on their circumstances. We can advise whether VAT registration would be beneficial for your business.
What expenses can I claim when starting a business?
Most business-related costs can be claimed as expenses, including equipment, software, office costs, travel, and professional services. Claiming allowable expenses helps reduce your taxable profit. We guide you on what you can claim and how to keep accurate records.
Do I need an accountant when starting a business?
While its possible to manage some tasks yourself, having an accountant ensures your business is set up correctly, tax obligations are met, and opportunities for tax efficiency are not missed. Many new business owners find that professional support saves them time and money in the long run.
Do I need a business bank account?
If you operate as a limited company, you must have a separate business bank account because the company is a separate legal entity. Sole traders are not legally required to have one, but keeping your business and personal finances separate makes bookkeeping much easier and helps keep your records organised.
How much tax will I pay as a new business?
The amount of tax you pay depends on your business structure, profits, and personal circumstances. Sole traders pay Income Tax and National Insurance on their profits, while limikted companies pay Corporation Tax and directors pay tax on salary or dividends. We help new business owners understand their tax position and plan ahead to avoid surprises.
Still have questions about starting a business? Book a free startup consultation and we’ll be happy to help.
Contact Us
Edwinstowe House
High Street, Edwinstowe, Nottinghamshire, Mansfield NG21 9PR
Tel: 01623 821502
Retford Enterprise
Randall Way, Retford, Nottinghamshire DN22 7GR
Tel: 01777 948188
Monday - Friday: 9am - 5pm
Saturday - Sunday: Closed