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Starting out

Starting a business? Get the foundations right.

Company or sole trader, the right records, the right registrations and the first year's deadlines in hand from day one.

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What you need

The essentials for a new business

Accounts and tax

Company accounts, corporation tax and the confirmation statement, filed early. Self assessment if you are a sole trader.

Business accounting

Bookkeeping

Records kept current in Xero from the first invoice, so nothing piles up for the year end.

Bookkeeping

Xero set up properly

Bank feeds, invoicing and receipts set up at the start, so the books mostly keep themselves.

Xero and the app stack

Making Tax Digital

If you are self-employed or let property, quarterly updates may apply. We check where you stand.

Making Tax Digital
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Questions

Common questions

Should I set up a limited company or be a sole trader?

It depends on expected profit, how you want to take money out and the risks involved. We will run the numbers for your situation on a first call.

When do I need to register for VAT?

When taxable turnover in any rolling 12 months goes over £90,000, or you expect it to within the next 30 days. You can also register voluntarily if it suits the business.

What records do I need to keep?

Every sale and every cost, with the paperwork behind it. Keeping them in Xero from the start makes everything after that easier.

What are a new company's first deadlines?

The first accounts are due 21 months after incorporation, and corporation tax is due nine months and one day after the end of the accounting period. Our key dates calculator lists every deadline.

What happens on the first call?

We talk through what the business does, how you want it set up and what you need from us. Then we quote a fixed monthly fee. There is no charge for the call.
Other stages

At a different stage?

Established

Accounts, tax, payroll and VAT done early, with a named accountant.

Established business

Growing

Monthly numbers, a forecast and someone to talk them through.

Growing

Selling or stepping back

Exit planning, reliefs and sale support, started early.

Selling or stepping back

Talk it through

A free first call to understand the business and what would help most.

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bpc partners
Technology-led chartered accountants in Cheltenham, supporting businesses and landlords across Gloucestershire and beyond.
Business
Business accountingBookkeepingXero and the app stackLive reporting
Personal
Personal taxMaking Tax Digital
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Finance PartnerLandlords and propertyPersonal service companies
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Accountants in CheltenhamAccountants in GloucesterAccountants in TewkesburyAccountants in CirencesterAccountants in Stroud
ICAEW Chartered Accountants
BPC Partners Limited is a member firm of the Institute of Chartered Accountants in England and Wales, registered as Chartered Accountants and subject to the ICAEW Code of Ethics. Our registration can be checked at find.icaew.com. Regulatory information and complaints: /provision-of-services
© 2026 BPC Partners Limited. Registered in England and Wales, company number 04277490. Registered office: 3 Royal Crescent, Cheltenham GL50 3DA.
3 Royal Crescent, Cheltenham GL50 3DA · 01242 226789
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