How Much does it Cost to Set Up a Limited Company?
Many sole traders, working partners and small business owners will consider going down the company formations path at some point when their business has proved to be successful. However, most business owners are worried that forming their own Limited Company or Limited Liability Partnership will be costly, not only financially but also in the amount of extra effort needed to meet with their statutory requirements.
While it can be a little more time-consuming to run your own limited company, the benefits of forming your own company far outweigh the negatives.
The actual financial costs involved with setting up a limited company can vary according to the type of company you are looking to form and the way you choose to incorporate your company with Companies House.
From a time-management point of view choosing to use a company formations agent such as Your Company Formations is by far the quickest and most professional way to register your own company. We are approved company formations specialists that have been helping business owners from our central-London offices since 1972. Our formations team have over 100 years of collective experience with company formations having formed thousands of new Limited Companies, LLPs – this is why we are one of the most trusted formations agents in the UK. We specialise in the following company formations:
- Limited Company (by shares)
- Company Limited by Guarantee
- Property Company
- Charity Company
- RTM (Right to Manage)
- LLP (Limited Liability Partnership)
- PLC (Public Limited Company)
Setting up your private limited company
Using Your Company Formations to form your limited company is a quick, efficient and cost-effective way to get your new limited company up and running – quite often on the same day!
We can take care of all your necessary submission requirements and our formations service includes the mandatory Companies House filing fee. Because we know exactly what information you will need to submit to Companies House, our applications go through very swiftly without a hitch.
You can choose to form your own company directly by yourself though Companies House, but be warned that if you fail to submit the right information or fail to supply enough detail, your application can be rejected. This is not only very frustrating but it is also a huge waste of your time. Filing directly through Companies House can actually be more costly than going through an approved agent.
By using our expert company formations services you can save yourself a lot of time and effort as well as the stress of knowing how to meet the requirements needed to complete the formations process.
Many business owners are also unaware that going through the company formations process by themselves can actually take much longer than using an agent. In most cases, we can get your registration through on the same day and without any issues. Compare this with an average of between two and ten working days when you do the filing yourself.
The filing process can take even longer if Companies House reject your application because of mistakes or omissions. It can then take you even longer to correct any mistakes and re-submit your information.
What can really drag the whole process out further, and also cost you more money, is if you choose to set up your company by postal application. Postal applications can usually take an average of 8 to 10 working days to be processed. Again, if there are any errors or omissions spotted with your application, it will be rejected and you will have to start the whole process over again.
This is why it makes perfect sense to go through a professional company formations agent such as us.
Your Company Formations Digital Formations Service
So, going back to the original question of ‘how much does it cost to set up a Limited Company?’, if you were to go with our cheapest and most straightforward option of the Digital Company Formations Package it would cost you just £7.48 and that includes full registration and the £13 Companies House registration fee included!
Our Digital Company Formations package option is by far the most cost-effective way to register your own limited company and get your new company up and running as fast as possible.
You may be wondering who is our Digital Company Formations Package for? This pack is more cost-effective because we will officially register your company with Companies House in the same way as we do with all other types of registrations, but instead of posting you hard copies of your incorporation documentation and certificates we will send these to you electronically.
You will be able to get your incorporation documents via email in PDF format so it will be easy for you to download and print off. This way you will get to keep both a digital and paper copy of your incorporation for your records.
Choosing the digital package is also a very good way to reserve a company name for your business. You may be in the process of setting up a new business and want to produce business stationery and a company logo using a specific company name. To ensure that no one else takes your chosen company name, you can reserve it quickly so that you can go ahead with your business preparations in the certain knowledge that your chosen business name is safe and secure for you to use.
This package is also ideal for those wanting to form a limited company but wants to leave it dormant. This can be done to reserve and protect a company name that is very similar to your own and will prevent the risks of your customers confusing two separate companies trading under similar names.
What is included in the Digital Formations Pack?
Your Digital Company Registration Pack Includes:
- Companies House £13 fee included
- Ready-to-trade limited company
- Instant submission. No signatures or paperwork
- All company documents sent to you by email
- A free business bank account with cashback
- A merchant account with cashback
- Free £75 Google Adwords voucher
- Free Online Company Manager
- Maintain statutory books
- Free support for the life of your company
- Email copy of Certificate of Incorporation
- Email copy of Memorandum & Articles of Association
- Email copy of Share Certificate
- Email copy of Company Register with first entries
Excellent value for money company formations
Basically, Your Company Formations are one of the most cost-effective formations agents in the UK. With our years of experience with company formations, we are the first choice for anyone with a business that is looking to take it to the next step by forming a limited company or wants to set up a new company from scratch to begin trading as quickly and as smoothly as possible.
We offer other business support services such as business banking or merchant account setups where you can see yourself gaining up to £55.00 cashback by simply going through us to set up.
Our friendly team of formations experts are here to help you every step of the way. Do not hesitate to contact us if you would like to discuss your company formations needs or would like advice about which type of formations would best suit your business structure and type. We are here to help!