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Accounting and invoicing for founders

First invoice, first customer, first tax return: in the founding year special rules apply to turnover limits, and everything is new. Saldiqo sets the mandatory details, shows the turnover limit for the first year and collects receipts for start-up costs.

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What comes up for founders

Everything for the first time

Invoice number, mandatory details, payment term: a lot is new, and mistakes cost time.

Founding year with its own rules

In the first year different turnover limits often apply than in later years.

Start-up costs

Registration, advice, equipment and marketing arise before there is revenue. The receipts belong captured from the start.

How Saldiqo helps

  • Check mandatory detailsSaldiqo checks before finalising.
  • Turnover limit in the founding yearSaldiqo shows how much turnover is left before the limit.
  • Receipts from the startCapture receipts by phone photo.
  • Invite your tax adviserAn adviser with their own login sees the figures and changes nothing.

Typical invoice lines

Examples that often appear on invoices in this industry. You set the prices yourself.

  • First service as per quote
  • Start-up consulting, hours
  • Equipment as per receipt
  • Website and branding, flat fee
  • Deposit on order confirmation
  • Travel costs, flat fee

Tax and invoicing in the UK

What applies to invoices in the UK, in short. As of October 2026.

VAT
Standard rate 20 %, reduced rate 5 % and zero rate 0 %. Saldiqo calculates each invoice line with the rate you pick.
VAT registration
You must register once your taxable turnover passes £90,000 over any 12 months, or you expect to pass it within the next 30 days. You can deregister below £88,000. Until you are registered, your invoices show no VAT, and Saldiqo adds up your 12-month turnover for you.
What goes on an invoice
If you are VAT registered: your VAT number, the tax point, unit prices and the VAT total in pounds. A limited company shows its registered name on every invoice, and its company number, registered office and part of the UK on letters, order forms and the website.
E-invoicing
There is no mandate today. From April 2029 e-invoicing is planned for all B2B and B2G sales that carry VAT, through Peppol. The exact date and standard are not yet in law, and the government’s roadmap follows with the Budget on 28 October 2026.
VAT returns
VAT returns go to HMRC through Making Tax Digital, usually quarterly, due one month and seven days after the period. Saldiqo shows sales and VAT per rate and exports CSV. It does not submit to HMRC, and for Making Tax Digital you need software recognised by HMRC.
Record keeping
Keep VAT records for 6 years.
Late payment
Statutory interest on late business payments is the Bank Rate (3.75 % in the second half of 2026) plus 8 points, so 11.75 %. On top comes fixed compensation of £40, £70 or £100, depending on the amount owed (under £1,000, from £1,000, from £10,000). Consumers have no statutory interest.
Getting paid
Your sort code and account number are on every invoice. Customers pay by Faster Payments or Bacs, and banks check the account name with Confirmation of Payee. There is no QR standard in the UK.

Frequently asked questions

Do different limits apply in the founding year?

Often yes. Which limit applies to you is listed in the country block above and with your tax adviser.

Can my tax adviser work with it?

Yes. You invite them with their own login. They see the figures and can pull exports.

Do founders in the UK have to charge VAT?

Only once they are VAT registered. Registration is required when taxable turnover passes £90,000 over any 12 months, or is expected to within the next 30 days. Below that you may register voluntarily. If you are not registered, you must not show VAT on your invoices.

Do founders in the UK need e-invoicing?

Not today. A mandate for B2B and B2G sales with VAT is planned from April 2029, and the details were still open as of October 2026. You can keep sending PDF invoices for now.

How long should founders keep invoices?

Keep VAT records for 6 years. You can store receipts digitally in Saldiqo. The legal duty to keep records stays with you.

Try Saldiqo for free

Write invoices, match payments, collect receipts and send reminders: free and without a trial period.

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As of October 2026. General information, not legal or tax advice, without guarantee. For your case ask your tax adviser.