Setting up a Limited Company

[Reporter]

I've been contracting for 2 or 3 years using an Umbrella and am now going to set up a Limited Company.

Any advice as to wheter to use the services of an Accountant to set up the Limited Company (seems to cost approx £125) or is it fairly easy to do yourself?

I've been looking at the Companies House website and I can see there are 4 forms to complete but not sure what additional work I would need to do with regard to VAT registration, business bank account, etc.

[KevinS]

Personally, I used an accountant and it was well worth the money (VAT, FRS included).. I have subsequently registered another limited myself, but used one of the online companies (cost about £60) for the registration and articles.. Done all the HMRC stuff myself after they sent me the docs..

[blacjac]

Most of the main contractor accountants (search this board) will set up the company for you free if you use their accountancy services.

[Alan @ BroomeAffinity]

We'll set up your company for free. PM me if you like.

(Pardon the shameless marketing)

[VectraMan]

There's online companies that'll do it for as little as £30, or less. Having done this though I'd suggest that you let whatever accountant you're going to use do it as it'll save on hassle.

However, you are the director which means you are the one that has to sign things like VAT and bank account applications. The accountant can only do so much for you.

[Reporter]

Thanks for the replies.

I've been speaking to SJD Accounting and they have been very helpful so far so am thinking about going with them. They can do the set up for £125 which seems a bit expensive, but it sounds like it may be best to get them to do it if they are going to be my accountants.

[DiscoStu]

Thanks for the replies.

I've been speaking to SJD Accounting and they have been very helpful so far so am thinking about going with them. They can do the set up for £125 which seems a bit expensive, but it sounds like it may be best to get them to do it if they are going to be my accountants.

Nixon Williams will do it for nothing if you use them for your first year.

[NotAllThere]

... but it sounds like it may be best to get them to do it if they are going to be my accountants.

Why? I can't quite follow the logic there. Unless they throw in a few other bits an pieces that they'll charge you for anyway. Accountancy is accountancy. Company formation is company formation. Save yourself a few quid - get the company set up by one of the online johnnies. You can even tell SJD that your doing this; I doubt very much they'd mind.

[Bluebird]

Think I used UKplc - cost about £30 - the fact that CH encourage you to do it direct with them tells you it's not difficult.

Anything more that £30 and they are just fleecing you.

I can't see how SJD justify the amount you mention, I though they were ok, but their fees for a lot of things seem on the pricey side.

Don't forget loads of "other" businesses do this without accountants.

If you can't be bothered then fine, but don't moan about the price you pay.

[Alan @ BroomeAffinity]

You'd rather pay for the incorporation than get it for nowt. And then having been fleeced by the company, stick with them and give them the opportunity to fleece you again? OK.