How much does it cost to set up a limited company ?

[0844solutions]

Thinking about converting my business to a limited company, just not sure how much it costs, how long it takes, pro's & con's, etc... Does anyone have any advice ?

 

[glennborthwick]

about 60 quid, nothing to it.

 

[jelly3]

Anything from £17.99 to £500 depending on who you use.
If you use a formation company or a solicitor they will charge all sorts.
Doing it yourself is cheaper.

Companies House standard fee is £20.
But there is a formation company out there on the web that will offer to do it for just £17.99.:|

Same day incorporation from Companies House is £50.

 

[jelly3]

If you want to use the address of your solicitor/accountant/formation company as your registerd address the costs mount up.

The address can then be used to a) pretend your company is something it is not.
B)because you are well dodgy
c) Your mortgage does not allow your prop to be used for commercial services.
D)You want to impress that bloke over the road.

 

[accountancyextra]

You can buy a company off the shelf for as little as £35 through a formation agent.

However it can prove a false economy to do things yourself just to save a few £. For example, get the share structure wrong and it can cost you thousands. Is yours an established business? If there may be goodwill involved which can provide significant tax advantages if done properly.

 

[mat@msg]

Hi there - I wrote a small blog in regards to the cost of setting up a Ltd a short while ago:

http://www.ukbusinessforums.co.uk/forums/blog.php?b=914

We (www.companiesmadesimple.com) are a company formation agent who specialise in setting up UK Ltd's. Our basic package costs £24.99 plus VAT (no hidden costs) and with this we can normally form the company within 3 working hours. There are a few agents knocking around the forum so you may want to shop around but if you have any questions in regards to the formation process please let me know.

 

[Optegris]

It might cost bugger all to set it up but the question surely should be "How much does it cost to keep a company running correctly"

No offence to the quick formations companies but they are simply making it easy to get setup which is very commendable. Problem is that so many people just dive stright in without giving any though to the future or even if it's the right thing to do.

You should never form a limited company without taking professional advice from a chartered accountant. The money that will cost in the initial point will/could save you thousands long term.

 

[0844solutions]

Thanks for all the advice, its been helpful.

 

[oldeagleeye]

Businessmadesimple are the people to go with about £25 quid same day on-line service. There also do a Gold pack which gives you a years registered office which normally costs about £100 from other registrars.

The company also have a wealth of information on there many web sites with far better info on running a company than businress link.

Rob

 

[Michelle Carvill]

I used companies made simple http://www.companiesmadesimple.com to form three companies and it was great. They have lots of info on their site and blog too.

 

[NEF]

Is £250 to setup a ltd including pack and paperwork a lot of money?

 

[mhall]

Is £250 to setup a ltd including pack and paperwork a lot of money?

YES, depending on what you mean by "pack and paperwork"

 

[Tax-UK]

It costs around £150 and your accountant will do all the work required

 

[JamesCartwright]

£250 sounds quite a lot to be honest - but it depends what you're looking for.

Wisteria offer basic incorporation for as low as £24.99 - but you mention a pack and documents. Some agents will do bundles for you together, 'Premium' or 'Gold' packs etc etc. Which may work for you. If you know exactly what you want, Wisteria allow you to pick exactly which documents and additional products you want - kind of cherry-picking. (E.g., if you just wanted an Incorporation Certificate printed...the rest comes electronically).