Accountants for Startups & New Businesses
Get your finances right from day one — expert accounting for UK startups, new limited companies and early-stage businesses.
Start Smart. Build on Solid Foundations.
The decisions you make in the first year of a new business have a long tail — the wrong company structure, missed tax registrations or poor bookkeeping habits can cost you significantly further down the line. Magnum Accountancy works with UK startups and new businesses across all sectors to get the foundations right from day one: the right structure, the right registrations, and an accounting setup that scales with you.
Company Formation & Structure Advice
Sole trader or limited company? The answer depends on your income level, risk profile, sector and growth plans — and it’s not always obvious. We work through the options with you before you register anything, explain the tax implications of each structure and help you form the company correctly if that’s the right route. Getting this right now avoids a costly restructure later.
Bookkeeping & Cloud Accounting Setup
Bad bookkeeping is one of the most common reasons new businesses run into trouble — not just at tax time, but throughout the year. We set you up on the right cloud accounting software (Xero, QuickBooks or FreeAgent), establish your chart of accounts correctly for your sector, and show you exactly what you need to record and when. You’ll always know your numbers, not just at year end.
R&D Tax Credits
If your startup is developing new products, software, processes or technical solutions, you may qualify for R&D tax relief — even in your first year of trading, even if you’re not yet profitable. This is one of the most valuable reliefs available to early-stage businesses, and one of the most commonly missed. We assess your eligibility as part of our standard onboarding and claim every pound you’re entitled to.
Cash Flow & Runway Planning
For a new business, cash flow is everything. You can be profitable on paper and still run out of money. We build cash flow forecasts that map your income, fixed costs, variable costs and tax liabilities — so you always know how much runway you have, when you need to invoice, and when you can afford to invest. If you’re pre-revenue and working from savings or investment, we help you build a burn-rate model that keeps you in control.
Payroll & Your First Hire
Taking on your first employee is a milestone — and a new set of obligations. We register you as an employer with HMRC, set up payroll from scratch, handle your first RTI submission and make sure you’re meeting your auto-enrolment duties from day one. We also advise on whether your first hire should be employed or engaged as a contractor, and the tax implications of each — before you sign anything.
Investment Readiness & Funding Support
Whether you’re preparing for a seed round, applying for a Start Up Loan, seeking grant funding or pitching to angel investors, your financial presentation matters. We prepare investor-ready accounts and financial projections, advise on SEIS and EIS compliance (which give investors significant tax relief and can make your business far more attractive to back), and make sure your company’s cap table and share structure are set up correctly before you bring anyone in.
Why Startups Choose Magnum Accountancy
We’ve Seen Every Early-Stage Mistake
From wrong company structure to missed VAT registration thresholds, we know what trips new businesses up — and we make sure it doesn’t happen to you.
Affordable Fixed Monthly Fees
Startup-friendly pricing with everything included — accounts, tax returns and year-round advice — so you’re not hit with a big bill when you can least afford it.
Grows With You
We work with businesses at every stage. As you scale, hire and grow, we’re the accountant who already knows your business inside out.
Starting a Business? Let’s Get the Foundations Right.
Book a free 30-minute call with Daxa — no obligation, just straight-talking advice.
Daxa Khunti — Managing Director
📞 01223 297374 | ✉️ daxa@magnumaccountancy.com