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Limited Company Setup - Application Processing Time

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    Limited Company Setup - Application Processing Time

    Hi

    I'm setting up a limited company through an accountant. The accountant had submitted the application to company house yesterday (12pm) and I thought I would get the formation confirmation by today. However there is no news yet.

    I've called company house who advised that they have a backlog of 3 weeks and I don't get an answer for three weeks.

    Just passed the info back to the accountant who has declined the response from company house and assured that it would be done tomorrow.

    I'm supposed to start the work next week and I thought the normal turnaround time is 24 hrs.

    Anyone had similar experience or is there anyway to expedite the application request.

    Thanks.
    Last edited by Pete30; 28 February 2023, 20:12.

    #2
    WTF are you using your accountant to create a company - do it yourself....

    Literally point 101 of not being a Managed Service Provider is somehow offload the company formation to the person who will be using the limited company.
    merely at clientco for the entertainment

    Comment


      #3
      Originally posted by eek View Post
      WTF are you using your accountant to create a company - do it yourself....

      Literally point 101 of not being a Managed Service Provider is somehow offload the company formation to the person who will be using the limited company.
      What eek says. Not doing it yourself is stupid given what's happening with HMRC. Last year I applied to register a company and I was up and running within 3/4 of an hour.
      Public Service Posting by the BBC - Bloggs Bulls**t Corp.
      Officially CUK certified - Thick as f**k.

      Comment


        #4
        Originally posted by Fred Bloggs View Post

        What eek says. Not doing it yourself is stupid given what's happening with HMRC. Last year I applied to register a company and I was up and running within 3/4 of an hour.
        I didn't have a clue

        The accountant website had a company formation package and I went with it. Lesson learnt.

        I'm not sure what are my options if I don't get it by tomorrow or even for weeks as company house told me on the phone today.

        The agent was already flexible and decided to wait for the company formation even when the role needed immediate start. If this is going to take weeks, I think I will loose this one.
        Last edited by Pete30; 28 February 2023, 20:54.

        Comment


          #5
          Step 2 would be to look at the list of recommended accountants and bin the one you selected - they had 1 task they really should be avoiding and seem to have screwed it up
          merely at clientco for the entertainment

          Comment


            #6
            Originally posted by eek View Post
            Step 2 would be to look at the list of recommended accountants and bin the one you selected - they had 1 task they really should be avoiding and seem to have screwed it up
            The company formation application is already submitted. I'm not sure what will happen if I now move to another accountant.

            Comment


              #7
              Originally posted by Pete30 View Post

              The company formation application is already submitted. I'm not sure what will happen if I now move to another accountant.
              step 1) form a company yourself - Set up a private limited company: Limited companies - GOV.UK (www.gov.uk)
              step 2) sack the accountant
              step 3) get another accountant (read the forums here, or find a local firm)
              step 4) get a company bank account (Mettle is a great start as it's quick to setup and they give you FreeAgent)
              step 5) get PI, PL and EL insurance (QDOS/Hiscox)
              step 6) get contract signed
              step 7) start work, and billing

              and when the originally ordered company lands, just close it down. Strike off your limited company from the Companies Register: Overview - GOV.UK (www.gov.uk)
              You will likely have to get the new accountant to do some of that paperwork at extra cost, but as the company will have never traded it shouldn't be overcomplex. Or you could even make it dormant and never trade.
              See You Next Tuesday

              Comment


                #8
                Originally posted by Pete30 View Post
                Hi

                I'm setting up a limited company through an accountant. The accountant had submitted the application to company house yesterday (12pm) and I thought I would get the formation confirmation by today. However there is no news yet.

                I've called company house who advised that they have a backlog of 3 weeks and I don't get an answer for three weeks.

                Just passed the info back to the accountant who has declined the response from company house and assured that it would be done tomorrow.

                I'm supposed to start the work next week and I thought the normal turnaround time is 24 hrs.

                Anyone had similar experience or is there anyway to expedite the application request.

                Thanks.


                Standard advice would be it is usually 24 hour turnaround once the application is submitted to Companies House. More recently, it can be as little as 5 minutes.

                Comment


                  #9
                  Originally posted by Lance View Post

                  step 1) form a company yourself - Set up a private limited company: Limited companies - GOV.UK (www.gov.uk)
                  step 2) sack the accountant
                  step 3) get another accountant (read the forums here, or find a local firm)
                  step 4) get a company bank account (Mettle is a great start as it's quick to setup and they give you FreeAgent)
                  step 5) get PI, PL and EL insurance (QDOS/Hiscox)
                  step 6) get contract signed
                  step 7) start work, and billing

                  and when the originally ordered company lands, just close it down. Strike off your limited company from the Companies Register: Overview - GOV.UK (www.gov.uk)
                  You will likely have to get the new accountant to do some of that paperwork at extra cost, but as the company will have never traded it shouldn't be overcomplex. Or you could even make it dormant and never trade.
                  step 8) Learn learn and learn. Do it fast. You are a contractor now. Your main job is to run your company, understand it's finances and understand IR35. The work at the client is easy, everyone can do that. I didn't have a clue isn't a defense when you fail your legal obligations as a company director.

                  You didn't have a clue how to handle an interview clash and now don't have a clue about setting up a company. What exactly do you have a clue about?

                  If you didn't have a clue you should have gone umbrella until you did.
                  Last edited by northernladuk; 1 March 2023, 12:09.
                  'CUK forum personality of 2011 - Winner - Yes really!!!!

                  Comment


                    #10
                    Accountants have been forming companies for people for donkeys years. Sure, maybe it's one of a hundred factors that might be considered in an MSC challenge, but to the OP, you haven't done anything stupid. You've done what most people do.

                    As to timing, assuming the incorporation was submitted online, normally they're turned around within 24 hours. Guessing Companies House might have been talking about timescale for dealing with posted letters. I wouldn't panic if it's now been slightly over 24 hours.

                    On rare occasions applications get rejected. A few times we've seen this where there's a contentious name. Either includes...questionable words (eg possibly rude or violent sounding), or includes protected words ("Royal", "Chartered", things like that).

                    Check in with your accountant daily until it's sorted.

                    Comment

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