Registered Office - LTD Company

smj43

I'm thinking about setting up a LTD company. First of all, I have no idea what I'm doing but I'm slowly learning. Just wondering what to do with regards to a registered office. I don't want to use a home address nor do I want to rent an office. I have heard of companies who offer a registered office service. My question is, are these suitable for using as the companies registered office? Also, which service is the best in terms of service and value for money?

steve1980

The most important questions are...

Why do you want to start a ltd company?
What business do you carry out?
Would it be beneficial for tax reasons?
What is your turnover?

smj43

steve1980 wrote: »

The most important questions are...

Why do you want to start a ltd company?
What business do you carry out?
Would it be beneficial for tax reasons?
What is your turnover?

I want to start a Ltd company because I have an idea for a start up business. I figure Ltd is the best way to go since I want to be separate from the company. I don't want to pay myself a wage until I know the company can afford to pay it.

VSC

My accountant suggested that I use his address - common practice as I understand it.

Good luck.

texranger

when you register a ltd company you will normally be given an option to add a reg office address, but these can be expensive.

Red_Elle

I use my Accountancy firm. Do you have an Accountant? I'd always recommend talking to one as soon as you decide to set up a company. They will advise you of the best formation for you based upon expected turnover and other things, like Steve said. If you do decide to set up a limited company then you will need to be aware of costs of set up, VAT, corporation tax etc and whether you would benefit from the flat rate VAT scheme or not.

In my experience all firms will give you this advice for free in the hope that you will then use them.

Premier_2

smj43 wrote: »

I'm thinking about setting up a LTD company. First of all, I have no idea what I'm doing ...

smj43 wrote: »

I want to start a Ltd company because I have an idea for a start up business. I figure Ltd is the best way to go since I want to be separate from the company. I don't want to pay myself a wage until I know the company can afford to pay it.

I suggest you get some expert help.
I fully agree with your second sentence in your OP, and your subequent posts reinforces this, hence the advice.

You don't need a ltd co to start a business.

You are not going to be separate from any new start company, unless you are not involved in it at all. I suspect you are thinking of being an officer of the company, in which case you will be very much involved in it.

You don't need to be a ltd company to not take anything from the business.

Premier_2

VSC wrote: »

My accountant suggested that I use his address - common practice as I understand it.

Good luck.

Yes it is common for an accountant to offer their own address as a registered office address for a client.

It's called related sales, or upselling, and how business works. Great business for the accountant who will be charging for this (and probably will offer to take care of the name plate too ... for an additional fee.) :cool:

Red_Elle

My Accountant doesn't charge for this and, working in that field, I don't know of any others that do, so worth checking out. You're not using the premises for anything and in fact if your Accountant is doing a lot the HMRC stuff for you it all gets sent directly to them anyway (although you can choose what is sent to the registered office and what you have as a correspondance address)

Premier_2

Red_Elle wrote: »

My Accountant doesn't charge for this and, working in that field, I don't know of any others that do, so worth checking out. You're not using the premises for anything and in fact if your Accountant is doing a lot the HMRC stuff for you it all gets sent directly to them anyway (although you can choose what is sent to the registered office and what you have as a correspondance address)

I'm sure they do. It may not be an explicit charge, but it will be in the fees they charge you.;)

Red_Elle

Premier wrote: »

I'm sure they do. It may not be an explicit charge, but it will be in the fees they charge you.;)

Probably with some firms, but I discussed fees with them prior to deciding to use them as my registered office. Perhaps I just have generous Accountants. They also used to forward any post to me free of charge and they took me for lunch last week

I hasten to add that they are a client of mine as well, so probably would not want to add on too many costs for fear that mine would escalate