HMRC, Record Keeping and Gateways

February 16, 2021

This is the second of our bite-size modules to guide you into starting up your new business. It is designed to guide you through the facilities on your Government Gateway and help you explore the options available to you to record your accounts.

In Module 2 you will have the opportunity to explore with guidance all the different methods of keeping accounts. With a new business, it is important to set systems in place for you to grow your business and continue to work for you as you do. Your accounts system should save you time and be easy for you to see how your business is doing. You may opt to do all your accounts yourself, or work with Swann Systems Ltd and/or an accountant to take away the stresses of completing your books. Therefore, allowing you the time to concentrate on building your business.

HMRC: as a new business it is important that you register yourself and your business correctly with HMRC gateways. The Cygnets programme will help you understand your business format and your legal needs within HMRC.

 

In Module 2 you will:

  • Explore Accounting Software packages
  • Send out invoices to customers
  • Set up HMRC gateways for VAT, MTD & EC Sales
  • Understand the guidelines on becoming an employer
  • Review your Time Management
  • Complete Partnership contracts (if required)
  • Understand if you need an accountant