what are the costs of setting up a

building

limited company.

1) buy off the shelf
2) audited accounts
3) any other regular things that need to be paid for

also is there any additional paperwork to be done? and what would this be?
thanks in advance.

Pennywise

building wrote:

limited company.

1) buy off the shelf
2) audited accounts
3) any other regular things that need to be paid for

also is there any additional paperwork to be done? and what would this be?
thanks in advance.

You can "do it yourself" for under £50.

You are unlikely to need "audited" accounts which are only required if the shareholders want them, the business is registered under the financial services act, or has a high turnover (circa over £4million).

Insurance and bank charges will probably cost more (less "deals" around), accountancy fees will be higher, you may have legal fees re directors service contracts, companies house fees (fairly low).

Plenty of additional paperwork - you'd need to follow the formal payroll and PAYE procedures, minutes of formal directors meeting and AGM, dividend vouchers, directors expenses claim forms, etc., None of these are particular complex in themselves, but you would need to know what you were doing. Getting things wrong and not having the right paperwork in place could land you in trouble!

I'd advise you to have a meeting with a business link adviser or a local accountant to go through all the pros and cons.