Ltd Co formation online, who to use and number of Shares to issue ??

**VectraMan** · 5 June 2007, 11:39

I used EACBS. I suggest you don't.

Decide who you want to be your accountant, and get them to do it. It'll save time and hassle later on.

I have two shares issued to me; I don't think it matters a whole lot how you do it if one person is going to own 100%. Whether or not you should split ownership with your wife is a whole different issue, but if it were me I'd keep my business and personal lives seperate.

**Old Greg** · 5 June 2007, 11:49

Originally posted by M@H

HI all, just trying to work through the idea setting up a Ltd co online (first time so please be gentle).

Firstly there seem to be a lot of companies all offering the same service at similar prices (duport, eacbs, incorporateonline, ukincorp) and having weeded through the marketing stuff I was going to use ukincorp (Coddan) for this.. any comments on them ?

Secondly, I was planning having me as director and my wife as secretary (good idea? Arctic!?) but not sure about share issue. The setup wild be a standard capital on formation of £1,000, divided into 1,000 shares valued at £1.00 each, but I'm unsure as to issuing them. I was thinking of issuing just one to myself and leaving the rest behind, but thats more of a gut feeling than a proper decision.

Now before I get a barrage of "ask and accountant" comments, I do inted to do that, but realising there is a lot of knowledge (and some accountants!) here I thought I would venture an ask of your learned opinions too.

Many thanks,
Matt.

I used my accountant which was just about the most expensive way of doing it but well worth it in terms of hassle-free and timesaving as I was up against a tight deadline.

I have 2 shares, my wife has 1. This relfects the fact that I am the fee-earner but that we have both shared the risk of my giving up my permie job. It coincidentally means that we both hit the 40% bracket at the same time, minimising our tax liabilities. I'm banking on the Arctic case working out right but I'm not exposed to much risk as I've only recently started up.

As to the mixing business and personal life, you can make your own judgement whether or not to listen to the wretched philandering CSA-dodging divorcees that haunt this board

**Ardesco** · 5 June 2007, 11:51

Lets face it, if kids are involved she's going to take half anyway so you may as well give her half the shares so that she has half the liability as well if it all goes tits up

**Jason D** · 5 June 2007, 12:01

I can so same day formation for you for £100.00 plus VAT.

Re shareholding, don't worry about Arctic, if you were to give her a more realistic shareholding than the Jones' did then you would have not have anything to worry about.

**mark09** · 5 June 2007, 12:09

There is an avert to the RIGHT here £75 plus vat to form a ltd company!! i am about to be a client of sjd accountancy as they seem ok however they charge 125 plus vat

not sure what the differnce woud be though?

**Old Greg** · 5 June 2007, 12:14

Originally posted by mark09

There is an avert to the RIGHT here £75 plus vat to form a ltd company!! i am about to be a client of sjd accountancy as they seem ok however they charge 125 plus vat

not sure what the differnce woud be though?

I'm with SJD and paid the £125 purely because I was hiding in my car in the work car park and needed it done quickly so I could tell work I was leaving in 3 days time. It was worth the extra to me, but you could get it done cheaper if you shop around.

**Jason D** · 5 June 2007, 12:14

Yep saw that

You can get online formations for £24.99 if you put 'company formation' into Google - depends what you want out of it, like everything in life you get what you pay for.

Not saying anything is wrong with the ad on the right - I haven't looked at what you get for your £75.00

**THEPUMA** · 5 June 2007, 12:16

Originally posted by Jason D

I can so same day formation for you for £100.00 plus VAT.

Re shareholding, don't worry about Arctic, if you were to give her a more realistic shareholding than the Jones' did then you would have not have anything to worry about.

I disagree. You should worry about Arctic and there are certain things you ought to when incorporating in order to mitigate this risk. Amongst other things, all of the shares ought to be issued to one of you, before transferring a proportion to the other. It is difficult to rectify this at a later date if they are initially issued in the proportions you want them to remain.

**M@H** · 5 June 2007, 12:28

Originally posted by Jason D

I can so same day formation for you for £100.00 plus VAT.

£30-£45 is about the amount I was thinking of spending lol

Originally posted by Old Greg

I used my accountant which was just about the most expensive way of doing it but well worth it in terms of hassle-free and timesaving as I was up against a tight deadline.

Hmmm.. I don't need it done in a day, but I need it in the next week or so.. I would also rather do the easy "donkey work" myself for limited cost, and get the accountant involved for the tricky stuff later on.

Originally posted by THEPUMA

I disagree. You should worry about Arctic and there are certain things you ought to when incorporating in order to mitigate this risk. Amongst other things, all of the shares ought to be issued to one of you, before transferring a proportion to the other. It is difficult to rectify this at a later date if they are initially issued in the proportions you want them to remain.

Thanks for that, could you elaborate as to why it makes a difference issuing to one then transferring.. as opposed to issuing to both to start with?

Many thanks
Matt

Ltd Co formation online, who to use and number of Shares to issue ??