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First Steps

updated
February 16, 2021
Published on:
February 16, 2021

Q. What are the first steps I need to take to set up a business in the UK?

A. Our quick checklist for initial steps on setting up a business include:

  • Check name is available
  • Choose structure of company
  • Incorporate company through Companies House
  • Register UK address for company
  • Draw up a shareholders’ agreement. This will cover what happens to the business and individuals in a variety of circumstances.
  • Insurance

In your first year, you will need to make sure you have the following covered:

  • Bookkeeping and management accounts
  • Statutory accounts
  • VAT registration (if applicable)
  • Corporation tax
  • Personal tax

When employing your team, you need to make sure you have the following covered:

  • Employment contracts
  • Payroll
  • TUPE
  • Employee benefits
  • Pensions under auto–enrolment regime

Moore Kingston Smith

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Moore Kingston Smith is the only firm of accountants and advisers with a dedicated office of over 100 media specialists that proactively supports the extensive range of needs of independent creative businesses

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