Financial plans
Financial planning, including cash flow and forecasting, will enable you to ensure you have the funds you need to carry out your activities and achieve your objectives and that you have taken all costs into account.
Business Link Yorkshire have useful fact sheets on their website that cover balance sheets, budgeting, financial management and accounts, basic recordkeeping and cash flow management. Go to: www.businesslinkyorkshire.co.uk
Once trading, businesses will need to be aware of taxes they may be liable for paying, such as VAT and Corporation Tax.
Where can I get help with tax matters?
Business Link have produced a useful guide about the range of taxes for which a business may be liable, see http://www.businesslink.gov.uk
You should also contact the relevant HM Revenue & Customs office. The HMRC website has details of which office to contact, www.hmrc.gov.uk
The HMRC website has useful guides and helpline numbers on tax issues for businesses, www.hmrc.gov.uk
HMRC also have advice teams who run free workshops and presentations on a variety of subjects at locations throughout the country. Information can be found on their website at: http://www.hmrc.gov.uk and click on ‘Revenue & Customs Advice Teams’.
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