Company Formation

WHAT IS COMPANY FORMATION?

Company Formation
Company formation is the process of registering a limited company with Companies House to form a new legal entity distinct from persons or other businesses. Also known as ‘company registration’ or ‘company incorporation’, this process is considered one of the most important parts of starting a business, as it ensures correct legal setup for your business’s specific needs.

COMPANY FORMATION AND ACCOUNTING SERVICES

Our Derby-based accountants can advise you on the best legal structure for your business and take care of all the paperwork, leaving you to concentrate on what you do best.

Our company formation service includes:

  • Advice on the best legal structure to suit your business needs
  • Registration with Companies House
  • VAT and PAYE registration
  • Advice on business legislation and regulations
  • Registration with HMRC
  • Support with opening a business bank account
  • Corporation tax registration
  • Bookkeeping advice and annual accounts preparation
  • Appointment of directors and company secretary
  • Advice on accounting software/cloud accounting

Before starting your company’s formation process, you can use the Companies House name availability checker to check whether your company name is available for registration.

LIMITED COMPANY FORMATION

There are many benefits of registering as a limited (Ltd) company. As a limited company, you have more protection than a sole trader or partnership by gaining limited liability protection so that you are not personally liable for any financial losses.

Setting up as a limited company also entitles you to certain tax advantages and improved credibility, and offers potential opportunities with larger businesses who choose to work only with limited companies.

SOLE TRADER/PARTNERSHIP TO LIMITED COMPANY

If you are already operating as a sole trader or partnership and have made the decision to become a limited company, it’s important that you know how to transfer everything correctly. We are here to advise and support you smoothly through the transition process.

Setting up a limited company can be confusing and stressful if you don’t have the correct information to hand. We provide up-to-date expert advice to help with the following:

  • Deciding whether it’s the right time to set up as a limited company: this usually depends on your current income as a sole trader/partnership. The more you earn, the more you can save on tax. We can work this out for you to make sure it’s the right step to take
  • Set up your company for tax, PAYE and VAT (if required)
  • Advice and setup of Directors and Stakeholders
  • Informing HMRC that you have registered as limited: from then you will be required to complete corporation tax returns and VAT returns (if you’re VAT registered). We can help you get started and give advice on completing the returns
  • Supporting you with getting your accounts set up to meet HMRC regulations

If you’re looking for an easy formation process to take a weight off your mind, get in touch to discuss your requirements with our expert accounting team.

Should you want to continue working with us after using our company formation service, we can help you with everything from the budgeting and forecasting process to regular bookkeeping to ensure your business succeeds and grows.