Company setup and registration

[Scottie dog]

Hello everybody

Is there anybody on here that could outline the basic steps of how to set up a company please? From what I can make out I need to purchase a company name and pay to register it at company house, which is the same place where I can pay for a bank account...? Is that all the official bits I need to do not including public liabilities ?

Any comments at all are welcome nomatter how insulting

Thanks

Scottie

 

[Dawn Lane]

If you are just starting up in business, why do you need to register at Companies House (as a Limited or Partnership company), wouldn't a sole trader suffice for now?

You should have an idea of what your business name is going to be - then check to see it is available.Have you checked Companies House and the Business Register (www.start.biz) to check business name is available?

If you are looking at going down the limited road, seek advice from an accountant first to make sure it is the right option for you.

There are a number of companies who will register your company at Companies House for you, I have used two in the past and would recommend both of them. DM me for details.

A number of these companies, also have arrangements with banks to help you set up a new bank account.

Have you also looked at whether your company name, or a derivative, is available as a domain name?

Not sure what you mean by the official bits - if you are going to be a sole trader/self employed, you need to register with HMRC within 3 months of going self-employed. If you are going limited and will be both director and employed by your own company, you need to register with HMRC as an employer.

More info probably needed about what type of business you are planning to go into before a full answer can be given.

Take a look at Business Link web site about setting up a business - there is lots of info on there to help.

Dawn

 

[The Paws]

Below are the natural steps to register a limited company:

1. Google 'company registration' and you should get a few providers. It can be as cheap as £16. Recommend companiesmadesimple.com
2. Wait for your incorporation certificate to arrive. I say an electronic version should be enough. No point spending extra on cert that print on fancy paper.
3. You will need to prepare the "Memorandum and Articles of Association". This is legally required. Normally provided when you register a company.
4. Open a business bank account with any high street bank. We used HSBC which is very good, and free!
5. Register with HMRC online so that you can submit corporate tax return online. You can also register to VAT and PAYE online. To save all the hassle, get an accountant!
6. Register with Companies house so that you can submit annual return and annual accounts online.

I guess that's all you need.

 

[sitandstay]

Hi,

Welcome to UKBF

What type of business are you looking at starting?

 

[empirecanvasprints]

We use companies made simple to set up 2 companies. they will help you out and its very affordable

 

[de novo interior design]

I agree, Companies made simple are a fantastic source for setting up your company. We are a recently formed company ourselves and we used companies made simple, they complete your companies house docs and the whole process takes 3 working hours for them to have your new company incorporated for you (working day that is)
They are also very helpful if you need to call them to clarify anything.
They have an option to use their registered office also for a small annual charge.

Hope that helps x

De Novo

 

[WEBattackS]

Google 'company registration' and you should get a few providers is best

 

[JamesCartwright]

There's three basic ways to set up the company:

1) Yourself, directly with Companies House. Cheapest - most work for you.
2) Through your accountant/lawyey. Least work - most expensive for you.
3) Through a Company Formation agent. Bit of a middle ground between the two.

Make sure, if you use a formation agent, that you buy exactly what you want/need. Some agents will bundle a load of things together that might not be of any interest to you whatsoever - but seem necessary. I know that Wisteria let you cherry-pick...they don't offer packages, but they allow you to buy the extra services you want - if you want them.

Get in contact with me if you have any further questions, I'll be more than happy to help.

 

[leon18688]

just find a agent

 

[taklamakan]

Do you need to register a VAT number when you set up a company?

 

[rotherhampayroll]

Do you need to register a VAT number when you set up a company?

No, when you regsiter the company through Companies House, HMRC will be notified and you will receive a form to complete, asking you about VAT, PAYE, corporation tax etc. If you need to register for VAT you do this with HMRC.

 

[taklamakan]

So, do I need to register a VAT? In which circuimstances?
I heart that if the company's turnover is below £70.000 then I dont need VAT.

 

[JamesCartwright]

If the turnover is over £73,000 you are legally required to register for VAT. Other than this it is not compulsory, but you may voluntarily register for VAT to reap some of the benefits.

Hope this helps.

http://www.wisteriaformations.co.uk/articles/index.php/do-i-need-to-register-for-vat-and-paye/

And

http://www.squidoo.com/vat-registration-limits

 

[worldy]

Can you setup a LTD company without trading? e.g. planning to do it in possibly 6-8months but want to get everything setup, registered and in place now?

 

[JamesCartwright]

Can you setup a LTD company without trading? e.g. planning to do it in possibly 6-8months but want to get everything setup, registered and in place now?

Yes you can. This is called a dormant company, and you simply set it up in the same way, but notify HMRC of the dormancy. Also, when it comes around to annual return, if you're still dormant you notify Companies House here.

This may shed some light on how to register a company that is not trading.

 

[davidansell]

I do not want to break any rules, and I didnt want to start another thread and have people complain so I hope you dont mind (person who started this thread)

I am about to launch a cleaning business, mainly focusing on carpet cleaning.

What would be the benefits for me being registered for VAT?
Does that mean I would have to lower my prices so they meet the right price for the customer or what?

Thanks

 

[JamesCartwright]

I do not want to break any rules, and I didnt want to start another thread and have people complain so I hope you dont mind (person who started this thread)

I am about to launch a cleaning business, mainly focusing on carpet cleaning.

What would be the benefits for me being registered for VAT?
Does that mean I would have to lower my prices so they meet the right price for the customer or what?

Thanks

Depending on your level of turnover, you may be legally required to register for VAT.

We produced an article on VAT registration after company formation that should answer some of the questions you have.

With regards to price - the answer is, it depends. Its all economical, depending on the market you're in. If you think that raising the prices to by adding VAT will detract some of your consumer base, you may have to lower the price before VAT so that the price they pay doesn't rise (if that makes sense). I.e. you take the burden of the VAT.

 

[Dr.Turner]

Dear Sirs,
I've incorporated a Ltd company in June and after three months of advertising the businees is blooming at last.

We sell on-line market research services and on-line marketing campaigns services mainly to EU companies willing to understand UK market before making advertising investments.

As far as I know invoices should be zero rated (levy of VAT reverse charged to recipient of service in accordance with 6th EU VAT Directive).

The point is that in the next 30 days the turnover will be at least €120.000 largely exceeding the £73,000 threshold.
Now the question is: should I register for VAT even if my business is 95% EU (VAT zero rated) and only 5% UK?

Kind regards,
Bill

 

[Dr.Turner]

Dear Sirs,
I've incorporated a Ltd company in June and after three months of advertising the businees is blooming at last.

We sell on-line market research services and on-line marketing campaigns services mainly to EU companies willing to understand UK market before making advertising investments.

As far as I know invoices should be zero rated (levy of VAT reverse charged to recipient of service in accordance with 6th EU VAT Directive).

The point is that in the next 30 days the turnover will be at least €120.000 largely exceeding the £73,000 threshold.
Now the question is: should I register for VAT even if my business is 95% EU (VAT zero rated) and only 5% UK?

Kind regards,
Bill

Sorry, wrong forum...