Creating LTD co

innyminy
innyminy New MemberRegistered Posts: 7
Hi Everyone
I work in industry, not practice, for a company that is already incorporated, so I am aware of the ongoing requirements etc.
However my knowledge is lacking regarding the actual process to incorporate a company initially as although it comes up during studying, it's not something I ever need to do in real life, and was hoping someone working in practice might offer some friendly advice? :001_smile:

I am helping my partner who is buying a Franchise. It seems to make sense to set up a LTD company, and I have been looking online. It seems there are many 'quick setup's' available, where you just tap in your required name, and for a fee anywhere between £13 to £100+ they register on your behalf and send you all the documents.
I am just wondering if it really is that simple, and if so are there any recommendations of who to use. (although I suspect those of you who do it for clients probably go direct to companies house, which I guess is another option for us, but wasn't sure if required more input from us)
Anyway, any thoughts or words of advice gratefully received.
Thanks :-)

Comments

  • Gem7321
    Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    I think you'd be surprised how many MiP's use company formation agents. Just search for 'company formation agents' in the forums search box and you'll soon see it seems to be the preferred method. Quick Formations comes recommended from others but my practice uses Jordans.

    Remember to also register with HMRC!
  • Jawz
    Jawz New Member West MidlandsRegistered Posts: 53
    Just as easy using Companies House website. They have a form you can fill yourself online, I reckon you will need form Incorporation IN01, simple and straight forward to complete. I think you pay £15 for LTD company Incorporation. Good Luck.
  • innyminy
    innyminy New Member Registered Posts: 7
    Great thanks both. :thumbup1:
  • Rozzi Rainbow
    Rozzi Rainbow Trusted Regular Registered Posts: 465
    The practice I work at also uses Jordans. They're very pricey but you do get all the statutory books and records already written up.

    We often find new Company clients coming to us who have registered themselves through one of the cheaper options but don't realise they don't then have everything! We then have to provide and write up their statutory books and minutes. This is something you might want to bear in mind if you choose one of the cheaper options.
  • burg
    burg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    We use companies made simple. Prices start at about £20 including VAT and CH fees and go up depending on the options. They have an agent option too with these different options and prices.
    Regards,

    Burg
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