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Info incorporating an Ltd

Incorporating an Ltd via an accountant

The Ltd can be set up by an accountant, this has some advantages and disadvantages

  • Prior to setting up you will have an online introductory meeting. Are there specifics to your situation? Then the accountant gives proper advice for it. However, my experience is that these introductory meetings are of little depth, and there will be no personal advice given.

  • It costs around £ 360 to set up an Ltd via an accountant.

  • Included in this is: Setting up, registration at Companies House, founding certificates, one-year business address at the accountant, scan-and-mail service of all mail, and a web filing authentication code.

  • A business address at the accountant costs around £ 210 per annum.

  • Biggest disadvantage: The lead time of introduction, to the founding, to the receiving certificates takes 2 - 4 weeks.

Incorporating an Ltd via Companies Made Simple

The Ltd can be set up via Companies made simple, this has some advantages and disadvantages

  • There is no introductory meeting with an accountant.
    Your situation is very basic if you set up an Ltd via this route (basic: One or more directions, one or more shareholders. Possibly, a shareholder is an existing BV / Holding with the same share structure as the Ltd).

  • It costs £ 150 when we set up an Ltd via Companies Made Simple.

  • Included in this is: Setting up, registration at Companies House, digital founding certificates, one-year business address at Companies Made Simple, scan-and-mail service of government mail only, and a web filing authentication code.

  • Registered address costs £ 120 per consecutive annum.

  • The lead time of introduction, to the founding, to the receiving certificates takes 1 - 2 days.

Regardless of founding method: We have to start accountancy

Whether we use Companies Made Simple, or an accountant, to start your Ltd, the next step will always be to start accountancy.

Your Ltd must be outfitted with a bookkeeping program. This is mandatory by law in the UK. In addition, the bookkeeping must be closed and filed every year.

The accountant can do this as a one time service afterwards, but that means you will have a large administrative backlog and will be paying all costs in 1 go!

It's better to arrange the accountancy and bookkeeping program immediately, with monthly payments. That way you can always ask for advice from your accountant as time goes by.

Have you decided on a name for your Ltd?

If you follow this link, you can check if that name is available.

Directors, Shareholders & stock

In an Ltd you have directors and shareholders. A director controls the company. A shareholder is part owner of the company and the financial means. There can be one director, but also multiple. Just like with shareholders, you can be both.

When setting up an Ltd there is 100% stock, to be divided among the shareholders. I'll suggest setting up the company with 100 shares at a value of £1 each unless you specify otherwise.

When there are multiple shareholders, this will be split. It can be split in any way you see fit, such as: 50:50, 51:49, 75:25 etc.

Contact

For collaborations, questions, remarks, feedback, ideas, shared grief, complaints and anything else; contact me!

Marieke
+31 619033380
selfmadeyou.nl@gmail.com

Working together

IIf you have a large network and bring in new customers, you will receive € 25 per new client after all formalities have been completed

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