Ltd Co Formation

[Jefferson]

Yet another thread regarding starting a limited company I'm afraid....
After using a (Dodgy) composite for my last contract I have got a new contract direct with a client for a year & want to set up a limited company as soon as possible. I will also need an accountant for the company and for simplicity would ideally like to use someone that can do the whole lot for me.
Anyone had any experience of "Just Contracting"?
Anyone recommend anyone else that is reasonably priced, will give IR35 advice/contract review etc..?

Thanks.

[DaveB]

I'm using SJD. Not been with them long but they seem competent. Not the cheapest around but so far they have been worth it.

Company formation is something you can do yourself, so shop around for the cheapest agent to use for it. Costs vary between £50 and £150. It's even cheaper if you go direct to companies house but takes a lot longer because private individuals can't use the automated interface to do it all online.

Same goes for VAT registration and getting a company bank account. Just depends on how much leg work you want to do yourself rather than pay someone else to do it for you.

[Jefferson]

Cheers Dave.
To setup a company bank account do you need bills etc in the company name with the company's address?
Also looking to move in the next few months - How much hassle is it to change company addresses etc.

[malvolio]

SJD and a few others will set up the company for you, some of them for free. I'm with SJD and switched to them a while back after quite a bit of research into the alternatives, mainly because they know all the rules and wrinkles and don't faff around., but they are comparatively expensive (only comparatively, mind - they cost me about three days' income a year...). You should have a nose through their website.

There are a couple of others on this board who offer similar services at sensible rates- try searching these forums.

[planetit]

How much hassle is it to change company addresses etc.

Pretty simple from my recollection.
You fill in a form for Companies House to change the registered office. Then you need to tell everyone else. Tax, VAT, bank, customers etc.

[Jefferson]

Thanks all for your advice.
Spoke to "Just Contracting" - Very helpful & sounded on the case - will setup your company free & Vat register etc, but charge £120 p/month.
Told them that there were more expensive than most and there response was that all their staff were fully qualified chartered accountants....?

[~Craig~]

Jefferson, Malvolio has spoken and he is rarely wrong

[DaveB]

Thanks all for your advice.
Spoke to "Just Contracting" - Very helpful & sounded on the case - will setup your company free & Vat register etc, but charge £120 p/month.
Told them that there were more expensive than most and there response was that all their staff were fully qualified chartered accountants....?

What you want to be asking them is if they are all fully qualified Chartered Tax Advisors. There is a big differance. A chartered accountant will have taken an exam in tax accountancy as one of 6 they have to pass to gain chartered status with the ICAEW but it's still a general qualification. A Chartered Tax Advisor will have specialist qualifications in taxation from the CIOT, a prerequisite for which is holding the ICAEW qualification.

If your accountants are simply Chartered Accountants they will *probably* be able to handle your tax for you but may come unstuck if you get major IR35 Issues for example. a CTA will almost certainly be able to handle anything that comes your way with regard to taxation.

All the gruesome details can be found here

http://www.freelanceuk.com/tax_advice/1146.shtml

[Jefferson]

Thanks DaveB - A much appreciated proper explanation.
Good weekend all...

[boredsenseless]

I'm using SJD. Not been with them long but they seem competent. Not the cheapest around but so far they have been worth it.

Company formation is something you can do yourself, so shop around for the cheapest agent to use for it. Costs vary between £50 and £150. It's even cheaper if you go direct to companies house but takes a lot longer because private individuals can't use the automated interface to do it all online.

Same goes for VAT registration and getting a company bank account. Just depends on how much leg work you want to do yourself rather than pay someone else to do it for you.

I set my company up via www.quickformations.com. They charge £41.11 to allow you access to the electronic submission gateway and it took 5 hours from start to receipt of electronic imcorporation certificate.