In the past forming a limited company was a lengthy and slow process. However thanks to internet technology it is now very simple to form your company online.
By using a UK company formation agent you simply fill in their online application and they will complete and file all the appropriate forms for Companies House electronically. This is a much quicker process than it was previously as the forms would have to be sent to Companies House in the post and by the time they were processed and returned this could become a lengthy process.
Also when completing the forms manually you must first find out which forms to fill in and then find them on the Companies House website. By having your company formed for you, you can be sure that the process will be completed correctly and that you will submit and receive all of the relevant information.
When carrying out the process manually it is essential for one form to be signed in the presence of a suitably qualified person, for example a commissioner for oaths, a notary public, a justice of the peace or a solicitor. This requires your time to complete and the co-operation of a suitable person and slows the process of incorporating your company. When using a formation agent there is no need for this and therefore your company can be formed quicker.
It is now easy to choose your own name and use all of your own details when you create the company, rather than buying an off the shelf company and changing them later. It is also easy to buy the products and services you want when you form your company through a formation agent. If you use a formation agent backed by a firm of Chartered Accountants you can also get help with what you’ll need after formation to help you progress and comply with Companies House.
Whilst the process of setting up a limited company is simpler than it has ever been, you should ensure that setting up a limited company is the right option for you. If you need further advice in relation to this, contact a chartered accountant or call our support line on 0844 893 0808.
To incorporate your company start here and for more information about the structure of a limited company visit Business Link.
