Setting up a limited company (LTD)

[sunny darko]

Do I have to buy one from another company like they advertise?

Seems wrong to me.

Can I not just create one "out of thin air" and register with Companies House to make it real / official?

 

[m4ttch4tt]

That's about the size of it, but if you want it to get anywhere I'd get an accountant, but by all means you can "out of thin air" make a company, register it with companies house and... Well, just nothing, but still call yourself a director.
It does seem daft sometimes to me because your actually paying someone else for your own invention and they just back you up and say, "pay me and I'll tell people you were the first" ha ha, strange.

M.

 

[benjamin_c]

http://www.companiesmadesimple.com/ these guys will sort it out for you

 

[oldeagleeye]

You might save a couple of quid DIY only to face a lot of hassle getting it wrong. Use a registrar like the one reco above. They will create your new company out of thin air and deliver it too at lightning speed in 3 hrs by email.

Rob

PS.You might want to check first that the LTD is available. You can do that by going to companies house and clicking on webcheck. The service is free

 

[David Griffiths]

Do I have to buy one from another company like they advertise?

Seems wrong to me.

Can I not just create one "out of thin air" and register with Companies House to make it real / official?

No you can do it yourself if you wish. I have to say though that given the fact that some formation companies charge a tenner or less (after taking out the fee that you have to pay for Companies House) I cannot understand why somebody would attempt to do it themselves. By the time that they've researched which forms are needed and the wording of items such as share capital the rate of return per hour on the £10 saved would be rather less than minimum wage! Even if they get it right first time.

And it's no less "real" or "official" if the company is formed by an agent

 

[elaine@cheapaccounting]

Have a read of this guide on ...

Limited Company - Do you know what you're getting into?


http://www.cheapaccounting.co.uk/mailsltdcoguide.pdf

 

[MyAccountantOnline]

Do I have to buy one from another company like they advertise?

Seems wrong to me.

Can I not just create one "out of thin air" and register with Companies House to make it real / official?

What makes it seem 'wrong' - its just another service being provided when you see company formation agents selling company formations.

With the work involved and the fact that some company formation agents are so cheap (some are free) its just not worth doing it yourself.

 

[sunny darko]

Thanks for the great answers!

My next question...


So assume I've bought / created "ABC LTD."
and I have 2 web shops 1 is called "supercool.com" and the other is called "megastuff.com"

Can I process them both through the same "ABC LTD" company?

I assume I can just wite at the bottom of the site and in the terms and conditions that "supercool.com" is a division of "ABC LTD" ?

Is that legal?
also not sure if "division" was the correct word or term there.
Please enlighten me, as you guys are very clever!!!

 

[elaine@cheapaccounting]

yes that is fine

just have blah.com is a trading name of blahblah limited

 

[payrolloxford]

Also check that Blah.com is not already registered as Blah limited. they could possibly have you for breach of copyright once the website is up and running.
Linda

 

[elaine@cheapaccounting]

breach of copyright

It wouldn't be breach of copyright - more 'passing off '

 

[payrolloxford]

Yes, of course you're right. Could still lead to problems though.

 

[sunny darko]

Are their any disadvantages of trading as a LTD as opposed to simply a sole trader?

Iknow the advantage is that you are not personally at a loss should the company fail.

but are their disadvantages?

:|