Company Formations

SE10Addick

Anyone out there got experience with setting up companies?

yes i know it's a recession, but there's a good opportunity for me to set something up myself.

Could just do with a few pointers, ie, is it easy enough to do myself, do i need a solicitor for the Memorandum & Articles of Association or is it worth looking at the company formations agencies?

thai malaysia addick

You don't need a solicitor. An accountant can do all the paperwork for you for at little cost. Probably best not to do it yourself, although I suspect there are some DIY instruction kits out there. The trouble is that if you make a mistake, the fines are pretty hefty in the UK.

SE10Addick

Does this look like its worth using?

http://www.smartcompanyformations.co.uk/

StanmoreAddick

[cite]Posted By: thai malaysia addick[/cite]You don't need a solicitor. An accountant can do all the paperwork for you for at little cost. Probably best not to do it yourself, although I suspect there are some DIY instruction kits out there. The trouble is that if you make a mistake, the fines are pretty hefty in the UK.

Agree with this- look for recommendations to someone rather than someone who has probably just optimised their google ranking..

There are probably enough people running their own business amongst us lifers to get you in front of aomeone who'll do a good job for you..

BTW- do you have to be a limited company- what about being self employed??

SE10Addick

There will be two of us so self employed wouldnt be suitable.

If anyone can recommend a decent (cheap) Accountant?

Goonerhater

Dead easy. Dosnt cost alot. many companies will set it up for you.

Do you have an accountant ? best if you do. They will need to do your end of year accounts (£7-800).

watch out for IR35 !!


RE Jones in Lee High Rd -- they are mine and my companies.

HardyAddick

You may as well do it yourself. Its easy. A solicitor can do it for you but double the price.

I have used the following firm before. They have been in this business for years. You only need a basic pasckage in my view. An already formed company "off the shelf" is quicker - may have a naff name but you can change that later;

http://www.stanleydavis.co.uk/index1.asp

SE10Addick

Cheers peeps.

doesnt have to be set up quickly, Its only so that i can market some products and when i do actually get a order, to process the cheques!

Miserableoldgit

Do "Cash in Hand".




But ofcourse I don't........

randy andy

No reason you can't be self employed as a partnership. All you need is a partnership agreement in place, and make sure you both fill out your tax returns accordingly.

Plaaayer

Is your company going to be making badges? :-)

aliwibble

One of the guys I used to work with did this. The biggest hassle he had was sorting out the business bank account so he could actually put the cheques in - admittedly it wasn't the biggest company turnover in the world, but he got really frustrated with the banks messing him about.

SE10Addick

[cite]Posted By: Plaaayer[/cite]Is your company going to be making badges? :-)

LOL!! I'd make a killing!!

[cite]Posted By: aliwibble[/cite]One of the guys I used to work with did this. The biggest hassle he had was sorting out the business bank account so he could actually put the cheques in - admittedly it wasn't the biggest company turnover in the world, but he got really frustrated with the banks messing him about.

Well I will need somewhere to stash my millions!!