There are three different ways you can usually form your company. You can form a company by registering directly with Companies House, using an accountant or lawyer or through a company formation agent. This article outlines the pros and cons of each and what to think about when deciding how to set up your company.
Directly with Companies House
To form a company directly with Companies House you need to fill out the relevant forms and send Companies House your proposed memorandum and articles of association which you can purchase or produce yourself.
However Companies House currently only have a paper filing process whereby you post your forms and memorandum and articles of association to them. This process can be slow and if there is an error with the application, Companies House will return the forms by post to be changed which then delays the process substantially. Producing your own memorandum and articles or buying them can also be timely and costly.
Using an Accountant or Lawyer
Using an accountant to form your company can be useful in that they may be able to give you some advice on the company formation. However Accountants or Lawyers themselves do not specialise in setting up companies, they do not have their own direct gateway with Companies House and their time is valuable, therefore they tend to be the most expensive way to go about forming your company. Many professionals will charge you for their time and the formation costs, often resulting in a total cost exceeding £200 – £300.
Company Formation Agents
Company formation agents such as Wisteria Formations specialise in setting up companies. Wisteria Formations have a direct online portal with Companies House, whereby they can process your company formation within a few hours. You can register your details through their online registration system within 10 minutes and if you are unsure of anything you can call Wisteria Formations customer support team (0844 893 0808) with any questions you have about forming a company or the registration process. Company Formation agents are the experts on setting up a company and can provide you with in-depth and useful advice at no charge.
Company Formation agents also provide you with an approved standard memorandum and article of association which saves you the time and money of providing one to Companies House yourself.
Wisteria Formations are also supported by a firm of Chartered Accountants and so if you do wish to have the service of an accountant after your company has been formed, you can appoint Wisteria Ltd as your accountants, tax and business advisers, without the initial expensive accountant’s fee for setting up your company.
Using the link below you can access Wisteria Formations online company formation registration and set up a company for £24.99, you also receive a free one hour consultation with either a chartered accountant or chartered tax adviser which is worth up to £250.
https://www.wisteriaformations.co.uk/uk_company_registration
