Company Formation
- Thread starter smo
- Start date
It depends on how comfortable you are with the technical terms. If you can manage it, go DIY; it means one less entity between you and your company's legal status. You get your authentication code immediately and it's faster.
Some agents do it cheaply for you but they're hoping you'll get a bank account through them, for which they get a small commission. That's fine too, especially if you want an account (speeds things up a tad).
We offer registered offices for company formations. They save you having to give your home address. See my link below.
Some agents do it cheaply for you but they're hoping you'll get a bank account through them, for which they get a small commission. That's fine too, especially if you want an account (speeds things up a tad).
We offer registered offices for company formations. They save you having to give your home address. See my link below.
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Like all things in life some formation agents will be good others will be not so good. I recently used an excellent one called the Made Simple Group.
Their customer service team were so helpful and thorough. There was no mandatory bank account or hidden costs included in their packages.
The turn around time was surprisingly quick and it only took around 3 hours for my company to be formed. They even had a package which allowed me to keep my business address and my residential address off Companies House's system.
I am also using their specialized mail forwarding service which has also proved to be so useful as well. I thoroughly recommend them for forming your company. Google Made Simple Group and London Presence Mail Forwarding.
Their customer service team were so helpful and thorough. There was no mandatory bank account or hidden costs included in their packages.
The turn around time was surprisingly quick and it only took around 3 hours for my company to be formed. They even had a package which allowed me to keep my business address and my residential address off Companies House's system.
I am also using their specialized mail forwarding service which has also proved to be so useful as well. I thoroughly recommend them for forming your company. Google Made Simple Group and London Presence Mail Forwarding.
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We are company formation agents, below are the pros and coms of both methods, remember Companies House only handle the registration process and no of the compliance you have to comply with under the Companies Act.
Companies House DIY Service
Can only be used to create a private company limited by shares that adopts standard Articles
Cost = £15 for 2 day service; £30 - same day service;
Registration needed with Companies House using an email address and a password.
Pros
● Easy, simple.
● Communication and acknowledgement online - certificate of incorporation and memorandum received within 24 hours (usually overnight). 24 hour service
● Default 2006 model Company Articles
Cons
● No registers, share certificates or company seal - will need to be obtained separately. Company seal is no longer necessary as the company will rely on s46 Companies Act 2006 for documents being executed as a deed this day.... on behalf of... in the presence of...
● Cannot be used for companies not limited by shares - for example limited by guarantee; LLPs
● Basic advice only available - for example about filing requirements
● Non-standard Articles need to be drafted and submitted separately. Failure to get it right will result in the registration application being rejected by Companies House. Examples and templates can be downloaded from the web, for a cost of around £10+ each, but it must be known that the source is reliable and the text up to date with the recent Companies Act 2006 changes.
Formation agent service
Formation companies used to create companies and then just amend the name and directors details on purchase. With the advent of computers they can undertake the same work as the DIY Companies House service; some for free and then include other benefits for additional cost depending upon the type of service purchased. These other benefits can include:
Advanced name-checking using not only the Companies House service but other company data services
Create non-standard Articles
Identity theft protection service
A readymade registered company with bank account, VAT registration and domain name in place
Hard copies of documents
Pros
● Full documentation including certificate of incorporation, company registers, copies of Articles
● No forms to complete
● Helpline for questions
● Quick - usually about 3 hours
● Choice of method of receiving documents - email or hard copies
● An additional service could include the creation of a bank account without have to go through the process of an interview or the presentation of a business plan
● Experienced in correcting errors
● Automatic acknowledgement of receipt and process
Cons
● May have to pay for services that are not required or create a company the Articles of which need revision
Companies House DIY Service
Can only be used to create a private company limited by shares that adopts standard Articles
Cost = £15 for 2 day service; £30 - same day service;
Registration needed with Companies House using an email address and a password.
Pros
● Easy, simple.
● Communication and acknowledgement online - certificate of incorporation and memorandum received within 24 hours (usually overnight). 24 hour service
● Default 2006 model Company Articles
Cons
● No registers, share certificates or company seal - will need to be obtained separately. Company seal is no longer necessary as the company will rely on s46 Companies Act 2006 for documents being executed as a deed this day.... on behalf of... in the presence of...
● Cannot be used for companies not limited by shares - for example limited by guarantee; LLPs
● Basic advice only available - for example about filing requirements
● Non-standard Articles need to be drafted and submitted separately. Failure to get it right will result in the registration application being rejected by Companies House. Examples and templates can be downloaded from the web, for a cost of around £10+ each, but it must be known that the source is reliable and the text up to date with the recent Companies Act 2006 changes.
Formation agent service
Formation companies used to create companies and then just amend the name and directors details on purchase. With the advent of computers they can undertake the same work as the DIY Companies House service; some for free and then include other benefits for additional cost depending upon the type of service purchased. These other benefits can include:
Advanced name-checking using not only the Companies House service but other company data services
Create non-standard Articles
Identity theft protection service
A readymade registered company with bank account, VAT registration and domain name in place
Hard copies of documents
Pros
● Full documentation including certificate of incorporation, company registers, copies of Articles
● No forms to complete
● Helpline for questions
● Quick - usually about 3 hours
● Choice of method of receiving documents - email or hard copies
● An additional service could include the creation of a bank account without have to go through the process of an interview or the presentation of a business plan
● Experienced in correcting errors
● Automatic acknowledgement of receipt and process
Cons
● May have to pay for services that are not required or create a company the Articles of which need revision
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It should also be said that a lot of company formation agents offer included extras with their packages too which make it more than worthwhile paying the extra few pounds over using the CH system.
For example all of our packages come with:
Of course it depends what extras you are looking for but most good formation agents offer at least a few of the above so its worth looking around to find the one that suits you best.
For example all of our packages come with:
- Free domain name
- Free 1 months accountancy
- Free extended KashFlow trial + 33% discount
- Free website builder trial
- Free 'Turn £25 into £75' Google Adwords voucher
Of course it depends what extras you are looking for but most good formation agents offer at least a few of the above so its worth looking around to find the one that suits you best.
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Hy,
First of all you must survey the market and collect all info and try to minimize your business expenses use resources that can give you raise in minimum period. One you can avail printing services as this is cheap specially the emboss cards printing will give you a market boost in the initial.
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It's a way but not necessarily the correct way and certainly not the most cost effective way. Sure some people prefer to do it that way but a growing number of people do it themselves or though a formation agent, both of which are just as 'correct' as though a solicitor or accountant!
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