Setting up a limited company

System
System Posts: 100,534 🤖 Admin 🤖
edited 12:08PM in AAT member discussion
One of my clients wishes to set up a limited company and has asked if I can sort out the Memorandum and Articles of Association. Has anybody used any of the online company formation agents? Is this the best way for me to proceed as I have not done this before?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    We've always used Jordans to do all this and had no problems at all.

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    I agree with Annette - Jordans have been around for years and years, and are the bees knees - I am sure that others are very good as well, but I can definitely recommend Jordans.

    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    I use the LondonLaw. Just somebody else for you to check out.

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Hi

    The FD at work usually does all the compliance work for the company inc corp tax, but when it comes to companies regsitration we use Jordans!

    Neil
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    I have found QuickFormations.com to be more efficient than Jordans.

    You can register with them for a discount too.

    Most formations come back in a couple of hours without having to pay for guaranteed same day service.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Has anyone thought about doing this yourself? When at college I got hold of a copy of the 1989 companies act which had, as an appendix, Table A that lists everything the company needs. The whole purpose of the memorandum is to tell everyone whether the company is adopting Table A or amending it. The memorandum can be as short as one A4 page. I have set up several companies like this.

    Let me know what you think.

    Ben
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    The only problem with doing it yourself is you need a solicitor to witness the form 12, although I am sure some people dispense with this requirement.

    That just makes it impractical, especially when it is so cheap and easy to do online.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Hello Dean,
    No problem. Any solicitor will charge the statutory £5 to witness your statutory declaration. Then, along with the filing fee of £20 with companies house the basic cost of setting a company up is £25. Add to this supplting a company stamp (I buy them for about £35 inc VAT) and a small folder for the various registers and you are done.

    Ben
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    For me, the £10 saving for doing everything yourself just isn't worth the extra time and hassle.

    For others, it can be a nice income stream for their business if they promote their formation service. I know some accountants charge in excess of £200 for forming a company.

    Does anyone still actually order a company seal? I havn't used one of those for about 8 years now!



  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    That's right, it is another imcome, although I couldn't justify £200 to my clients. As for the seal, strictly speaking, the law says a company should have one, so I provide one.

    By the way, how do you get your picture uploaded?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Picture can be uploaded by clicking on the 'profile' link above.

    If I recall correctly, the requirement to have a seal was removed by the amendment to the Companies Act in 1989. (I could be wrong - it wouldn't be the first time!).
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Thanks for the advice. One happy incorporated client!

    Dottie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    Well done - glad it all went smoothly.

    Who did you decide to use?

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Setting up a limited company

    I used QuickFormations.com and yes, they were very quick!

    Dottie

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