When it comes to setting up a new business, hiring a good accountant can actually be one of the more difficult things to get in order. The tax and bookkeeping requirements differ between industries and according to what sort of business you are setting up, which means that it is easy to make mistakes if you don’t know the tax system well.
If you are starting your first business, and don’t really know what your obligations are, then consider the following:
Speak to an accountant!
If you really don’t know where to start, then it is always a good idea to speak with an accountant or professional bookkeeper. An experienced accountant should know exactly what your requirements are when it comes to setting up a new business. If possible, try and choose someone who has experience in the field that you are starting your business in.