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The Startup Finance Checklist

15 things to get right before you start trading. The practical, plain-English checklist we wish every founder had on day one, from a certified Xero Partner and ACCA-qualified accountant.

  • ✓ Avoid the mistakes that cost founders thousands
  • ✓ Hit every HMRC and Companies House deadline
  • ✓ Start with financial foundations investors respect

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What's inside

1

Choose the right business structure (sole trader vs limited company) before you trade

2

Register your limited company correctly with Companies House

3

Register for Corporation Tax with HMRC within three months of trading

4

Open a dedicated business bank account. Never mix business and personal money.

5

Set up cloud accounting software (we recommend Xero) from day one

6

Understand the £90,000 VAT threshold and whether to register voluntarily

7

Decide how you'll pay yourself: salary, dividends, or a tax-efficient mix

8

Set up payroll and PAYE before your first payday (including director-only payroll)

9

Know your pension auto-enrolment duties before you hire

10

Put a simple system in place for capturing receipts and invoices

11

Set aside money for tax every month. Treat it as money you never had.

12

Track the key numbers for your stage: runway, burn rate, and cashflow

13

Note every filing deadline: accounts, Confirmation Statement, CT600, VAT

14

Keep records for at least six years, as HMRC requires

15

Get a financial partner in place before you actually need one