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If you are planning to set up a small business, it is essential that you get your firm a team of certified and well-experienced chartered accountants who can not only help you figure out tax-planning and other such compliances, but also offer a helping hand at various stages of setting up your firm. As experts in the fields of finance, agreements, laws, and taxes, your chartered accountants can be an integral part of the discussion while you formulate strategies for the future of your firm, apply for business loans, struggle to maintain accounts, feel overwhelmed by which softwares to install for your company’s benefit, or in two minds about the subsidies one can receive.
You wouldn’t like to be trapped in a host of unforeseen and unexpected legalities months after setting up shop. As they say, prevention is always better than cure. Here is what a Chartered Accountancy firm can do for the benefit of your company’s structure:
- Registration and Legal Structure
A business must go through a multiplicity of registration processes, such as limited liability partnerships or corporations, limited companies, or similar arrangements where others can be sole proprietors or traders. Naturally, each of them has diverse laws attached to its name, and knowing the different company, compliance, and tax laws associated with each can be overwhelming. A team of CAs can come in handy in such situations.
- ROC Filing
Companies have to file their annual accounts and returns within a specific time-frame, and your firm will not be exempt from that. With a group of well-knowledgeable CAs at your disposal, the process becomes quick and effortless. Leave the complications to them while you handle the business side of things.
- Trademark
Trying to trademark a product? A CA has specialized in the technicalities associated with the procedure of trademarking your unique product with the necessary authorities. You might even get your product trademarked before your business is registered! All it takes is a little help along the way, and it is a smooth sailing path for your business.
- Business Loan and Overdraft
Your company’s chances of getting loans approved goes up if a CA is on top of all your loan application-related documents. Moreover, if you have any query along the way, there’s no one better than your CA to clarify things from. Be it about revenue projections or expenses, ask right away! CAs can help understand all types of loans and the corresponding interest rates.
- Tax-Planning
Tax laws might seem like they can be navigated with relative ease, but that is rarely the case. Business taxes have a tendency to change and evolve frequently, so you need nothing short of an experienced professional to help you remain up to date. Your CA can be on top of all the latest rules and regulations, so that you never find yourself having to pay unexpected fines. With proper tax planning, your tax expenditure often goes down!
Avoid all penalties and tax-related fines with a team of certified Chartered Accountants. In case you falter, they can represent you in front of tax tribunals and officers. Be it paperwork or documentation, they can be of much help. From audit-related work, digital signatures, to raising a red flag if something looks awry, and informing you about penalties and subsidies of the government, a team of CA can prove to be a stepping stone to success for your business!
