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 Start-up flow chart.
Keeping records.

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Before you do anything prepare to keep a record of the events leading to your start up.

From day one, start a record / diary of the events leading to your first day of trading and maintain it thereafter.

Keep every VAT receipt for the purchases that you make during the setting up process and continue to do so thereafter.

In the enthusiasm that generally goes with a business start up, things can move very quickly. It is easy to forget important dates that will become relevant at a later stage.

Make sure any receipts that you receive have the supplier's VAT registration number on them and are kept in chronological order. This will make your accountant happy and save you time and money in the long run.

There are many purchases that you will make during the starting up process; chairs, stationery, etc. individually they may seem minor, but it is good to keep a record of them as the expenses will add up.


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