About the client
Our client manages multiple building projects and sites, works with many trades and suppliers and finds technology and paperwork challenging.
Having traded as a sole trader for many years, it was recommended by the company’s accountant that they should become a Limited Company.
The change would require running the two sets of accounts simultaneously, along with setting up new HMRC registrations complete with new CIS (construction industry scheme) and VAT details. Whilst making the change it was also decided to change banks.
In addition, personal bank accounts were inadvertently being used to pay supplies at times, which often caused confusion….