New Company Registration

skyblueheroes · 25-01-2005, 09:48

My friends and I are looking at starting up a company (private). Anyone know who companies need to be registered with and if there are any costs involved etc ??

BTW - Apologies if this is in the wrong 'room'.

Ta.
SBH.

Simon M · 25-01-2005, 09:51

You can buy "Off the shelf" companies for about Ã‚Â£160. Any company needs to be registered with Companies House, and this costs about Ã‚Â£15 per year.

Mr_love_monkey · 25-01-2005, 09:56

If I remember rightly, you need to pick a name, fill in some forms, pick a chairman and secretary, and then pay a fee of about 15 odd quid for it - buying 'off the shelf' just means you don't need to fill in the forms.

Also I think each year you would have to file your accounts - so that would be added expense each year of an accountant, if you can't do it yourself

Found this

SMHarman · 25-01-2005, 09:57

Companies House is the unhelpful answer.

http://www.formationshouse.com is a good place to do this. Thats where we set up our companies, everything is on line and you can then manage the legalities of being a company on line with them.

Costs Ã‚Â£50 for the setup, then you have to pay an annual registration fee to Companies House when you do your annual return.

You will also then need to go to a bank and set the company up with a bank account so any activities can be transacted through that account and also need a way of properly recording these transactions.

If the company employs people you will need to inform the inland revenue to register as an eer and if your turnover is likely to exceed Ã‚Â£58000 in any forthcoming 30 day period or has done in the past 12 months then you need to register for VAT, otherwise you dont. Or you could if you are primarily selling your services to businesses register voluntarily, this allows you to recover VAT on anything you buy, but you have to charge it on anything you sell, you have to report this quarterly or move to a VAT scheme. As another company can recover VAT it is beneficial to register, if you are primarily selling to individual customers, then it is less likely to be beneficial to register.

skyblueheroes · 25-01-2005, 10:09

Thanks for info. I'll look into this a little later.

BTW, can someone rep SMHarman !? I need to 'spread it about' first ! It your fault for being too damn helpful

**Graham M** · 25-01-2005, 10:23

Done

skyblueheroes · 25-01-2005, 10:27

Quote:

Originally Posted by Zeph

Done

Mr_love_monkey · 05-05-2005, 16:27

Quote:

Originally Posted by SMHarman

Companies House is the unhelpful answer.

http://www.formationshouse.com is a good place to do this. Thats where we set up our companies, everything is on line and you can then manage the legalities of being a company on line with them.

Costs Ã‚Â£50 for the setup, then you have to pay an annual registration fee to Companies House when you do your annual return.

You will also then need to go to a bank and set the company up with a bank account so any activities can be transacted through that account and also need a way of properly recording these transactions.

Does this company provide everything that is needed for the bank account set up? - i.e. there aren't other charges to get the documents they need?

paulyoung666 · 05-05-2005, 16:50

get yourself an accountant , when i was self employed it cost me about Ã‚Â£200 / year and he saved me a hell of a lot more than that by knowing the ins and outs

SMHarman · 05-05-2005, 17:12

EDIT - Oh and what he ^ said!
____

Quote:

Originally Posted by Mr_love_monkey

Does this company provide everything that is needed for the bank account set up? - i.e. there aren't other charges to get the documents they need?

Yes you go to their on line control panel and download and print the cert of inc and M&A. You need passports / ID of the directors / cosec and you are set.
I would recommend HSBC.