skip to Main Content

We Want To Hear From you

Have a comment or question? Send us a message.

Get In Touch With Us Today

If you have got questions, we have the answers. Just send us a message and one of our accountants will be in contact with you within 48hrs – even on weekends and holidays.

    Your Message

    Stop By Anytime

    We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

    18 - 20 East Street
    Bromley, BR1 1QU

    At Adiva Accountants all initial consultations are free of charge, so contact us today.
    For quality, competitive, and friendly accountancy services, please contact

    Adiva Accountants

    on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

    At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

    Alternatively, you can complete the contact form here and we will respond as soon as possible.

    Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

    They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

    They can help with dealing with Inland Revenue investigations also.


    Parking

    There are parking bays right in front of the office, please be careful not to park in loading bays. Parking costs £1.90 per hour (maximum stay 2 hours). Alternatively, you can park in Sainsbury’s car park, which is just 1 minute walk away from the office. Parking there is completely free for 30 minutes and would be free for up to 2 hours provided you spend £10 in Sainsbury’s. Our office is at 18-20 East Street, Bromley BR1 1QU, which is opposite of O’Neill’s pub and TruGym.

    Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades). Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.


    By car

    If you drive to our office in Bromley, please enter this address in your Satnav 18-20 East Street, Bromley, BR1 1QU. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208B226A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2A2213A20South Circular RoadA2212, then A21. From West London, you can take South Circular Road to Catford, then A21.


    Public transport

    We are situated in Bromley East Street, which is served by Bromley South and Bromley North train stations, they are about 5-10 minute’s walk away oesterreichischeapotheke.com/. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

    The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320, 336, 352, 354, 358, and 367.

    Chartered Certified Accountants       Call us: 020 8313 9117 contact@adivaaccountants.co.uk
    We're currently open.

    Which business structure should I use?

    Here we cover the options available to you when starting your own business. You should be aware that there are tax and legal implications which have a bearing on the choice you make. If you are starting, or have started a business in Chislehurst, Bromley, Kent and London areas we, at Adiva Accountants in Chislehurst, can help you decide on an appropriate business structure.

    The most suitable structure for your business will depend on your personal circumstances and your future plans. The decision which structure to use will have consequences on the way you are taxed, your exposure to creditors and other important matters.

    There are five possible options you have as follows:

    Sole trader

    This is the simplest way to trade. Only a few formalities are required, the most important of which is informing HMRC. You should keep business records in order to calculate profits each year. You will pay tax and national insurance on your business profits. Any profits generated as sole trader are yours. The sole trader business is not distinguished from the proprietor’s personal affairs. So, if there are any debts owed to creditors, you are legally liable to pay those debts down to your last possession.

    Partnership

    A partnership is an extension of being a sole trader. In a partnership, a group of two or more people will come together and trade as a single business entity. They would pool their skills, clients and business contacts so that they can build a more successful business than they would individually. The partners will agree pre-determined percentages to share the joint profits. It is important to draw up a Partnership Agreement which sets the rules of how the partners will work together. Partners are taxed on their own share of the partnership profits in the same way as sole traders. Also, same as the sole traders, the partners are legally liable to pay the debts of the business. So, each partner is ‘jointly and severally’ liable for the partnership debts. If certain partners are not able to pay their share of the partnership debts, then those debts can fall on the other partners.

    Limited company

    A limited company is a separate legal entity from its owners. The company can trade, own assets and incur liabilities in its own right. The ownership of the company is recognised by owning shares in that company. You are both the owner and an employee of the company, if you work for the company. When a company generates profits, they are not yours, but are the company’s property. If you want to extract money from the company, you must either pay a dividend to the shareholders, or a salary as an employee. A great advantage is that you can have a combination of salary and dividends to minimise your tax and national insurance liability. Companies pay corporation tax on their profits after paying your salary. But this is before your dividend distribution. To achieve the best tax planning it is important that profits, salary and dividends are considered together.

    Trading as a limited company has many advantages as well as disadvantages. We have a separate factsheet on ‘What are the main benefits of incorporating your business’. This factsheet considers the merits as well as the downsides of operating as a company.

    It is easy and cheap to purchase a ready-made company, which are referred to as ‘off the shelf’ companies. However, there are additional administrative factors in running a company, such as statutory accounts preparation, company secretarial obligations and PAYE (Pay as You Earn) procedures. Probably the biggest advantage of owning a limited company is that your personal liability is limited to the nominal share capital you have invested.

    Limited liability partnership

    A limited liability partnership (LLP) is legally quite similar to a company. It is administered like a company in all its aspects apart from taxation. In taxation matters it is treated like a partnership. So, LLPs have the limited liability, administrative and statutory obligations of a company. But not the taxation and national insurance flexibility. TLLPs are suitable for medium and large-sized partnerships.

    Co-operative

    A co-operative is a mutual organisation owned by its employees. John Lewis Partnership is an example of such an organisation. These structures need specialist advice.

    Categories: Business startup, Business startup in Orpington Kent
    Back To Top