Small LTD company start up

oz0707

I see website on google where you can set up a ltd company quite cheap (>£100). Has anyone any experience of these?

Also although I am quite keen to form the company I have something personally keeping me busy at the moment and this will probably last late into next year. If there was to be no turnover would I have to file accounts? Is this something I could do myself and what would the costs associated with filing returns be?

It may be easier for someone to point me to an online guide if there is one but it is always nice to get some feedback.
Ta

paddyrg

You can form a limited company for a lot less than that (in the region of £30-ish, sometimes less IIRC), but it commits you to about a grand's worth of accountancy fees each year, so it is not something to be taken casually. The fines are high for getting the annual returns wrong. And if you're not using the company at all, why bother?

oz0707

Yeh that's what I was afraid of. Building a house and just wanted the formation incase any contracting work came up in the meantime. Doesn't look justifiable if the accountacy fee's will be in that region.

bengalknights

If theres no turnover you would file dormant accounts and just pay the £14 yearly fee, its only if you have huge accounts to submit where accounting fees will start to add up,but even a basic bookeeping software should be able to do the simplest types of accounts to keep costs down.

oz0707

This is what I was hoping. Would it be easy to file dormant accounts yourself, just like filling in a tax return? Bet there is a guide somewhere.

bengalknights

Yes its very simple you just fill in shares in issue, value of shares and asset value about 15 minutes max to do it.

property.advert

paddyrg wrote: »

You can form a limited company for a lot less than that (in the region of £30-ish, sometimes less IIRC), but it commits you to about a grand's worth of accountancy fees each year, so it is not something to be taken casually. The fines are high for getting the annual returns wrong. And if you're not using the company at all, why bother?

What twaddle.

http://www.companiesmadesimple.com £16.99

It has the best portal, you can file online through this as well.

Accountancy for small companies is a couple of pages of A4 which you can do yourself. It isn't rocket science unless you are lazy or stupid.

Go to any accountant and they will quote you 4 figures but show Mr Sainsbury £1000 and he'll have it off you as well.

You don't need an accountant.

texranger

paddyrg wrote: »

You can form a limited company for a lot less than that (in the region of £30-ish, sometimes less IIRC), but it commits you to about a grand's worth of accountancy fees each year, so it is not something to be taken casually. The fines are high for getting the annual returns wrong. And if you're not using the company at all, why bother?

you can get a ltd co for £15 with a change to set up a bank account and get £35 cashback. you only pay the high accountancy fees if you submit audited accounts which is not a requiremnt for a ltd co unless you have a large turnover.
you can set up a ltd co as a dormant co and pay the £15 annual fee, this is one way to protect your business name.

Snakeeyes21

property.advert wrote: »

What twaddle.

http://www.companiesmadesimple.com £16.99

It has the best portal, you can file online through this as well.

Accountancy for small companies is a couple of pages of A4 which you can do yourself. It isn't rocket science unless you are lazy or stupid.

Go to any accountant and they will quote you 4 figures but show Mr Sainsbury £1000 and he'll have it off you as well.

You don't need an accountant.

Sound advice right there.

You ca even get a free, well £1, company formation if your willing to
let them refer you for a business bank account.
http://www.thecompanywarehouse.co.uk/free-company-formation

texranger

Snakeeyes21 wrote: »

Sound advice right there.

You ca even get a free, well £1, company formation if your willing to
let them refer you for a business bank account. thecompanywarehouse<dot>co<dot>uk

i would not use thecompanywarehouse if you paid me, it is run by conmen and have an obnoxious customer service.

if you reg a ltd company with anyone else you will end up with a mountain of junk mail from thecompanywarehouse amongt them will be a booklety where they do domain regsitrations, but if you use this server they will register the domains wrongly (you dont get a control panel to manage the domains yourself) so you need to request them to change the nameservers, but when you inform them that they regsitered it wrongly even if you have the evidence to show this they will become obnoxious and abusive towards you and then tell you to sort out the nameservers youself and to sort out the correct registration (which you cant sort out the nameserver without domain control and then it costs you extra with nominet etc to have the reg details changed) and they wont refund you, so they end up with your money and you have a domain you cant use.