We offer a comprehensive Company Formation service which goes beyond simply completing the paperwork on your behalf. The first step in deciding to incorporate is actually to decide whether it’s right for you. For many people incorporation carries the benefits of a more flexible tax system and a reduced liability for losses incurred but the responsibilities of directorship can be onerous. You may have considered this already and reached a decision, in which case we’ll be glad to complete the relevant paperwork on your behalf. You’ll receive your certificate of incorporation within 72 hours. If you’re in any way unsure, however, we can offer you a free consultation or a series of discussions for a small fee around the issues of incorporation, the risks and responsibilities involved, all with an eye for you, your goals and aspirations.
Our incorporation service costs £70 and includes a free preliminary consultation. You’ll receive your certificate of incorporation and be the director of your own company within 72 hours.
All companies in the UK are registered with Companies House, a government office through which most of their administration is handled and are ultimately under the jurisdiction of the Home Secretary. A company is required to have one or more named directors. At least one of these must be an individual person but other companies can also be appointed as additional directors. Until recently, a company secretary was also required but this is no longer the case. In addition to a director, a company must have at least one shareholder, a registered address, a ‘memorandum of association’ which details the distribution of shares amongst the shareholders and ‘articles of association’ which give information about how the company is run.
Companies are generally referred to as ‘limited’. This describes the fact that the liability of their directors for losses incurred if the company fails is restricted in a manner defined at the time of incorporation. The directors of companies limited by shares are only liable for the value of shares that they haven’t paid for. Thus, if a director owns 300 shares in a company each valued at £1 but has only paid for 50, if the company fails, that director is only liable for £250. A company limited by guarantee is backed up by its members to a pre-determined amount. In the event that it fails the directors are not considered as shareholders and are liable only for the amount they have previously agreed. These facts set company directors apart from Sole Traders who are responsible for 100% of their liabilities from the beginning.
Another major distinction is between Private (Ltd.) and Public Limited (PLC) Companies. Only private limited companies are made through the process of incorporation with Companies House whereas public limited companies are defined by having their shares traded on a regulated market. Public status is invariably an evolutionary step in the life of a company, therefore, rather than something determined at the outset.
As a company director you are ultimately responsible for meeting the obligations of your company as defined by the Companies Act. These include the submission of annual accounts and annual returns to Companies House, as well as the submission of a Company Tax Return to HMRC. Companies can also be subject to inspection by HMRC and Companies House as they deem appropriate.
Company formation can be handled directly with Companies House online or by post or, more usually, through a third party. A certificate of Incorporation is provided by Companies House once this process is complete and usually takes 48-72 hours. A 1 day service is provided for an increased fee.
Communications with HMRC & Companies House
Self Assessment Tax Return
CT600 (Company Tax Return)
Monthly Management Accounts
Accounting Systems Set-up
Business Startup – Company Formation
Benchmarking and KPI’s
Virtual / Part-Time Financial Director / CFO
Non-Executive Director (NXD/ NED)
Disaster Recovery Systems
Monthly / Quarterly / Annual Performance Meetings