Startups and High Growth Companies

Specialist advice for those starting out for the first time or beginning a new venture

Why choose us?

We have been advising successful local businesses for over 160 years and understand that all businesses are different. Whatever your budget or ultimate aims and ambitions the benefit of an accountant who is proactive and there when you need them is invaluable.

  • Locally based accountants with experience in your sector and the challenges you face
  • Proactive tax advice to help you keep more of what you earn
  • Experts in cloud accounting software who can provide help whenever you need it
  • Tax specialists to help maximise R&D spend and efficiently structure investment
  • Experts in VAT, payroll, pensions and HR to provide advice at the right time

Contact us to speak to one of our locally based accountants for a free initial meeting.

Different because you are

We pride ourselves in providing individually tailored services to our clients. Whatever your aspirations and priorities in business and life, we will be by your side with expert advice from local specialists. It is because your needs are unique, that the solutions we provide are distinct and personalised to you.

A good adviser will become a part of your business success, a sounding board, expert and trusted adviser to help you fulfil your potential. As your business grows you will need experienced support to let you focus on maximising your potential.

  • Advice led approach to maximise your business prospects
  • Bespoke packages to fit your needs and budget
  • Expert support, there when you need it

Your growth prospects will be challenging, you will need an adviser who understands your business from the outset and complements your team to maximise prospects, profits and opportunities

In addition to taking control of your compliance obligations we work with you to develop an advisory service right for you. There are many opportunities for tax efficiencies at the early stages of business and some simple advice can go a long way. 

Our track record advising local businesses is second to none. We have the expertise to provide focused and dynamic advice whatever your size.

The team at Lovewell Blake makes sure that I never miss a deadline and give me peace of mind that my accounting and tax affairs are in order. This allows me to focus on running my business.
Jason H, Suffolk

Download our New Business Kit to cover in detail everything you need to consider when starting up ion business:

We will complement your business as you grow and expand with our full range of diverse services. Get in touch to speak to one of experts.  

Why our tech clients value us as their adviser

Key partners and staff

FAQs

Do I need to register for VAT?

If your business is expected to turnover £85,000 of VATable turnover in the next 12 month period, you will need to register for VAT and start charging VAT on your supplies. You can reclaim VAT incurred on relevant expenditure and you pay the balance of VAT collected and recovered over to HMRC.

If your sales are standard rated for VAT, you will be charging an additional 20% of VAT on top of the invoice value. For customers who are not VAT registered themselves, this will make your invoices 20% higher. If your customers are VAT registered themselves (i.e. other businesses) they will be recovering the VAT themselves so your charges will not be higher.

If all or the majority of your customers are VAT registered, you may wish to voluntarily register for VAT even if your turnover is less than £85,000. You would then be able to recover VAT in your expenditure and as your customers recover any VAT you charge them, your invoices are effectively no more expensive.

Get in touch to discuss these options with one of our VAT specialists or local accountants.

Should I set up my business as a limited company?

When setting up in business, the structure you adopt is important. Limited companies are common but add a level of compliance to affairs which many small business owners can do without at the start of their business journey. In basic terms there are three things to consider and discuss with your accountant or adviser:

1. Cost - A limited company is a separate legal entity which has to prepare accounts and file a corporation tax return each year. As a sole trader your only compliance obligation is to prepare and file a personal tax return each year. As such, administering a limited company is likely to add cost to your overheads.

2. Tax - Limited companies pay tax on profits at 19%, extraction of profit can be done by salary, dividend or a mix. With the correct strategy there can be savings compared to a sole trader structure where tax and national insurance are payable on profits.

3. Risk - Limited companies provide a layer of protection as they are a separate legal entity. Whilst there are provisions to target Directors who behave recklessly, generally speaking the 'veil of incorporation' can offer legal protection to Director / Shareholders compared to unincorporated business structures.

Whether to incorporate will be a decision based on a balance of these three factors. Speak to one of our experts to discuss the best solution for you.

How easy is it to change accountants?

It is generally very straightforward to move to Lovewell Blake from another accountant. We will write to your previous adviser for professional clearance and also obtain copies of selected historic information such as last years accounts and tax references. We will then issue a letter of engagement and register as your tax agent direct with HMRC.

Which bookkeeping software should I choose?

Over the past few years we have seen the Cloud Accounting marketplace expand significantly and there are now numerous options to choose from. Popular names like Xero and Quickbooks have been around for a while now and are constantly being refined to reflect business need and consumer demand. SME's should definitely take a look at Xero which is extremely user friendly and simple to learn how to use.

For larger businesses with higher volumes of transactions and more complex functionality required, some of the established brands such as Sage are still leading the way. Our sector specialists can also help explain sector specific software options which may work better for your business if your accounts don't follow typical norms.

Our Cloud Accounting teams regularly run Masterclasses for those new to Xero or wanting to learn more about popular aspects. Check out our events for more information.

Find your nearest office

Bankside 300
Peachman Way
Broadland Business Park
Norwich
NR7 0LB

(Sat nav postcode NR7 0WF)

Call:
  • (01603) 663300 (Accountants)
  • (01603) 619620 (Financial Planning)
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1a and 1b Cawston Road
Aylsham
Norfolk
NR11 6BX

Call:
  • (01263) 732151
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Excelsior House
9 Quay View Business Park
Barnards Way
Lowestoft
NR32 2HD

Call:
  • (01502) 563921
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First Floor Suite
2 Hillside Business Park
Bury St Edmunds
IP32 7EA

Call:
  • (01284) 337070
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Sixty Six
North Quay
Great Yarmouth
NR30 1HE

Call:
  • (01493) 335100
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The Wherry
Quay Street
Halesworth
IP19 8ET

Call:
  • (01986) 873163
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The Gables
Old Market Street
Thetford
IP24 2EN

Call:
  • (01842) 755032
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11 Lynn Road
Ely
Cambridgeshire
CB7 4EG

Call:
  • (01353) 662447
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Wide-ranging tax planning and compliance services for individuals seeking advice and guidance from our team of experienced and highly qualified professionals.

Friendly and coherent advice and guidance on accounting and tax matters for small business owners including those starting out for the first time.

Established businesses requiring accounting and tax compliance services, forward thinking tax planning advice and the support to help your business succeed.

Our full range of enhanced corporate services aimed at large companies and those requiring audit, assurance, corporate tax advisory and diverse tax planning services.

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