Select a package

If you require any assistance contact us on 020 7871 9990.

Private company limited by shares

This is the most popular type of company structure in the UK. If you want to set up a business with the object of making a profit -this is the one for you.

All Inclusive
Print
Digital Plus
Digital

£49.99 +VAT

£17.99 +VAT

£14.99 +VAT

£9.99 +VAT

Private company limited by shares -
the popular choice.

Buy Package

Read More

Private Limited Company in
3 to 6 Working Hours*

Companies House Filing
Fee of £10.00 Included

FREE Business
Bank Account

Digital Certificate
of Incorporation

Digital Memorandum &
Articles of Association

Digital Share
Certificate(s)

Digital Company Register
with First Entries

Digital Minutes of First
Board Meeting

Legal Contracts and
Notices Package

Printed Certificate
of Incorporation

Printed Memorandum &
Articles of Association

Printed Minutes of First
Board Meeting

Printed Share
Certificate(s)

VAT
Registration

PAYE
Registration

Confirmation Statement
(prev. the Annual Return)

Free Admin Portal to
Manage your Companies

Free Support for the Life
of your Company

Google Adwords
Voucher worth £75

Free .com or .co.uk
Domain Name

Buy Package

Read More

Digital

£9.99 +VAT

Buy Now Read More

Print

£17.99 +VAT

Buy Now Read More

All Inclusive

£49.99 +VAT

Buy Now Read More
Digital
Digital Plus
Print
All Inclusive

£9.99 +VAT

£14.99 +VAT

£17.99 +VAT

£49.99 +VAT

*Most of our company incorporations are approved by Companies House within 3 to 6 working hours, however, this is dependent on Companies House workload, and it may take longer. If it is of great importance that your company is incorporated as soon as possible or on the same day, we always recommend you add the Guaranteed Same Day Service to your order.

Free .co.uk domain
£75 Google Adwords Voucher

Frequently asked questions

Are the package costs one-off, or annual charges?

They are one-off charges, and there are no extra costs payable to form a limited company or LLP.

If you purchase the All Inclusive Package, it includes the preparation and filing of your company’s first confirmation statement (previously known as the annual return), and you may wish to renew this service for year 2 at a cost of £35.00 plus VAT. Alternatively, you can use the customer area on our website to prepare and file your Confirmation Statement, and you will only be charged the Companies House filing fee of £10.00.

Do I need more than one person to form a limited company?

No, only one person is required. Although all limited companies require at least one director and one shareholder, it is common for one person to perform both roles.

Can I open a bank account in the UK if I don’t live there?

Our relationship with our banking partners does not extend to opening bank accounts for non-UK residents; however, it is possible to open a business bank account if your company does not have any UK resident shareholders or directors. This will involve contacting a bank directly, applying for the account and visiting the UK to meet with a bank and present the shareholders’ original ID and proof of address.

Please have a look at our blog on the subject: Business bank accounts for non-UK residents.

Do I need an accountant?

We recommend the assistance of an accountant with your company’s annual accounts and annual tax return, which will be due for filing (at Companies House and HMRC) 9 months after the end of your first financial year.

We would also recommend an accountant sets up your financial record-keeping and you obtain advice on how to take money out of your limited company.

Rapid Formations provides a free consultation with an accountant - either at one of their offices, or via Skype - where you will be introduced to the accountant's services and you will also have the opportunity to obtain some free tax and accounting advice.

Why do I need to pay for postage with the business address service?

When you purchase our business address service, you are buying the right to use our address as your trading / business address and publish it on your letterheads, invoices and website. We will also receive and log your mail onto our system and send you an acknowledgement that your mail has been forwarded to you. Unlike our service address and registered office services, we do not include the free forwarding of business mail to you, as we are unable to assess just how much mail each client will receive, and therefore require charging the cost of the Royal Mail postage plus a 15% handling fee for mail forwarding.

Is the bank account guaranteed?

The bank account is not guaranteed. Rapid Formations offers a free bank account referral to Barclays, and the decision to provide business banking facilities is subject to status and each banks' terms and conditions. All clients who open a business bank account via our referral system are eligible for 12 months of free business banking with Barclays. This service is only available to companies with UK resident directors and shareholders.

For further information please see our Barclays page.

If I buy a registered office address, does this cover all of my mail?

The registered office address can only be used for official government mail from Companies House and HMRC. If you also wish to use our address for general business mail, you should purchase the business address service.

Do I need to register my company for VAT?

You do not need to register for VAT until your annual turnover exceeds the VAT threshold, which from 1st April 2017, is £85,000. You can, of course, decide to register for VAT on a voluntary basis if your turnover is less than the threshold figure. As a VAT registered company, you can reclaim VAT paid on all goods and services purchased by the company.

For further reading on VAT consult the Rapid Formations blog: Do I need to register my limited company for VAT?

How do I reserve a company name?

There is only one way to reserve a company name at Companies House, and that is to actually form a limited company. No facility exists to simply reserve a company name without forming a company. If you wish to reserve a company name for future use, you should let HMRC know that your company is dormant. Consequently, HMRC will not expect a tax return to be filed, and you will only be liable to file inexpensive 'dormant accounts' instead of annual accounts.For further reading on dormant companies, have a look at our blog: A guide to dormant companies.

What type of company do I need?

Limited by shares companies: The vast majority of companies are formed with the objective of making a profit for their shareholders, and a private limited by shares company (also referred to as a 'limited' or 'ltd' company) is the standard corporate vehicle used for this purpose. A limited company is generally suitable to carry out most commercial business activities.

LLPs: Limited liability partnerships, or LLPs, are similar in structure to a traditional partnership; however, they enjoy the same limited liability of a limited company. They are generally used by professionals such as solicitors, dentists and accountants. The decision of whether to opt for a limited by shares company or LLP is not straightforward, as there are many differences between the two company types - perhaps the most important being taxation. For further reading on this subject, have a look at our blog: Limited company or LLP?

Limited by guarantee companies: This type of company is generally used by non-profit organisations such as workers co-operatives, membership organisations including students’ unions, sports clubs, and also charities. This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

Non-Residents Package £124.99 +VATBuy Now

An ideal package for non-UK residents

Our Non-Residents Package, at a cost of £124.99 plus VAT, is specially tailored to suit the needs of non-residents who wish to set up a limited company in the UK. It provides everything you will need to start trading. Some highlights include:

  • A company limited by shares.
  • A Registered Office with free scanning and emailing of official government mail.
  • A Service Address with free scanning and emailing of official government mail.
  • A Business Address service with international mail forwarding.
  • Printed documents delivered with FREE worldwide delivery by a premium courier such as DHL.
  • The preparation and filing of your first Confirmation Statement (prev. the Annual Return).
  • VAT registration, and maintenance of your company records.
  • A FREE one hour consultation with a reputable accountant in London or by Skype.
  • A FREE .com or .co.uk website domain name for 1 year.

What’s included:

Private Limited Company in 3 to 6 Working Hours*

Companies House Filing Fee of £10.00 Included

Digital Certificate of Incorporation

Digital Memorandum & Articles of Association

Digital Share Certificate(s)

Digital Company Register with First Entries

Digital Minutes of First Board Meeting

Printed Certificate of Incorporation

Printed Memorandum & Articles of Association

Printed Minutes of First Board Meeting

Printed Share Certificate(s)

VAT Registration

London Registered Office Address
(with free scan and email service)**

London Service Address
(with free scan and email service)**

London Business Address
(with International Mail Forwarding) **

Free Express Worldwide courier delivery ***

Confirmation Statement (prev. the Annual Return)

Introduction to a Chartered Accountant

Free Admin Portal to Manage your Companies

Free Support for the Life of your Company

Google Adwords Voucher worth £75

Free .com or .co.uk Domain Name

Non-Residents Package £124.99 +VATBuy Now

Barclays and Lloyds Business Bank Accounts

These offers are only available to companies with UK resident directors and shareholders. Companies with overseas or nominee directors and shareholders are not eligible for this offer.

*Most of our company incorporations are approved by Companies House within 3 to 6 working hours, however, this is dependent on Companies House workload, and it may take longer. If it is of great importance that your company is incorporated as soon as possible or on the same day, we always recommend you add the Guaranteed Same Day Service to your order.

**All official government mail (registered office and service address mail) will be scanned and emailed to you free of charge. The forwarding of all general business correspondence mail will be charged at Royal Mail International postal rates plus 15%. Mail will be forwarded on a daily basis.

***We will send your printed company documents free of charge using a premium courier such as DHL.

Free .co.uk domain
£75 Google Adwords Voucher

Frequently asked questions

Can I register a UK limited company if I do not live in the UK?

Yes. You can set up a UK limited company, however, you need to be 16 years old or over and not be a non-discharged bankrupt. You will also need a UK registered office, which must be a physical address in the UK.

Do I have to use the Non-Residents Package?

No, you can form your company using any of our company formation packages, however, the Non-Residents Package provides you with a full set of address services that you will need to set up and run your company. It is also great value for money.

What is a registered office address?

A registered office is the official address of a UK limited company, where all official government mail from Companies House and HMRC will be sent. It must be a physical address in the UK, however, your company does not need to carry out its business or trade from this address.

If you don’t have a suitable UK address to use as your registered office, don’t worry, the Non-Residents Package includes a registered office, service address and business (trading) address.

What is a service address?

Company directors, shareholders, secretaries and PSC’s (Persons with Significant Control) require providing a service address, when setting up a UK limited company. This address is used by Companies House and HMRC for official correspondence with company officers and shareholders.

Unlike the registered office address, the service address does not need to be in the UK, so you can use your residential address, however, it will be placed on the public record at Companies House.

Will my mail be forwarded to me overseas?

Yes. All mail will be forwarded to your chosen correspondence address, anywhere in the world. The cost of forwarding mail to you, will be the Royal Mail postal charge plus a 15% handling fee.

How much will the Non-Residents Package cost after the first year?

The Non-Residents Package is company formation package, and so it does not renew, however, there are renewable services within the package: The three address services and the Confirmation Statement service. If you choose to renew all 4 services, the cost will be £196.00 plus VAT per year.

Can I open a UK business bank account?

Our relationship with our banking partners does not extend to opening bank accounts for non-UK residents, however, you can open a UK business bank account yourself, although there are certain rules you must adhere to and due to current money laundering regulations, this is not always straightforward:

  1. You must be able to demonstrate you have a genuine trading activity and you are not going to use your UK company and business bank account for a tax avoidance / saving scheme.

  2. You should have a customer in the UK or have the intention to procure customers and properly promote and market your company.

  3. You will need to travel to the UK and meet your chosen bank, and present to them your photo ID (passport or drivers licence) and proof of residential address (utility bill or bank statement which is less than 3 months’ old).

After I have formed my company – do I get any support from Rapid Formations?

Yes. As a client of Rapid Formations, you will get free support by telephone, email or live chat for the lifetime of your company. You will also have free access to our Online Customer Portal where you can make changes to your company, file updates and manage your address service renewals.

Will you file my annual accounts?

We are company formation agents and not chartered accountants, therefore we are not able to prepare and file a company’s annual accounts. We do however, include a free introduction and consultation with a leading firm of chartered accountants in London – as part of the Non-Residents Package. This free consultation can be carried out by skype, telephone or face-to-face at the accountant’s London offices.

Please note, you should agree accountancy fees directly with the firm of chartered accountants.

Are there any extra costs?

The only additional costs, over and above the cost of the Non-Residents Package will be the Royal Mail postal charges (plus 15% handling fee) incurred in forwarding your mail.

Contractors Package £39.99 +VATBuy Now

Ideal for Contractors and Freelancers who want to set up a UK Limited Company

Our Contractors Package provides limited company registration for contractors and freelancers for just £39.99 + VAT. Limited company status will safeguard you against Management Service Company legislation that affects self-employed individuals and sole traders.

It will provide you with a ready-to-trade limited company in the UK, a full set of digital incorporation documents, VAT and PAYE registrations and a Lloyds or Barclays Business Bank Account with up to 18 months of free business banking.

We can also introduce you to an accountant to manage your payroll and prepare annual accounts.

What’s included:

Private Limited Company in 3 to 6 Working Hours*

Companies House Filing Fee of £10.00 Included

FREE Business Bank Account

Digital Certificate of Incorporation

Digital Memorandum & Articles of Association

Digital Share Certificate(s)

Digital Company Register with First Entries

Digital Minutes of First Board Meeting

VAT Registration

PAYE Registration

Free Admin Portal to Manage your Companies

Free Support for the Life of your Company

Google Adwords Voucher worth £75

Free .com or .co.uk Domain Name

Contractors Package £39.99 +VATBuy Now

*Most of our company incorporations are approved by Companies House within 3 to 6 working hours, however, this is dependent on Companies House workload, and it may take longer. If it is of great importance that your company is incorporated as soon as possible or on the same day, we always recommend you add the Guaranteed Same Day Service to your order.

Free .co.uk domain
£75 Google Adwords Voucher

Frequently asked questions

Are the package costs one-off, or annual charges?

They are one-off charges, and there are no extra costs payable to form a limited company or LLP.

If you purchase the All Inclusive Package, it includes the preparation and filing of your company’s first confirmation statement (previously known as the annual return), and you may wish to renew this service for year 2 at a cost of £35.00 plus VAT. Alternatively, you can use the customer area on our website to prepare and file your Confirmation Statement, and you will only be charged the Companies House filing fee of £10.00.

Do I need more than one person to form a limited company?

No, only one person is required. Although all limited companies require at least one director and one shareholder, it is common for one person to perform both roles.

Can I open a bank account in the UK if I don’t live there?

Our relationship with our banking partners does not extend to opening bank accounts for non-UK residents; however, it is possible to open a business bank account if your company does not have any UK resident shareholders or directors. This will involve contacting a bank directly, applying for the account and visiting the UK to meet with a bank and present the shareholders’ original ID and proof of address.

Please have a look at our blog on the subject: Business bank accounts for non-UK residents.

Do I need an accountant?

We recommend the assistance of an accountant with your company’s annual accounts and annual tax return, which will be due for filing (at Companies House and HMRC) 9 months after the end of your first financial year.

We would also recommend an accountant sets up your financial record-keeping and you obtain advice on how to take money out of your limited company.

Rapid Formations provides a free consultation with an accountant - either at one of their offices, or via Skype - where you will be introduced to the accountant's services and you will also have the opportunity to obtain some free tax and accounting advice.

Why do I need to pay for postage with the business address service?

When you purchase our business address service, you are buying the right to use our address as your trading / business address and publish it on your letterheads, invoices and website. We will also receive and log your mail onto our system and send you an acknowledgement that your mail has been forwarded to you. Unlike our service address and registered office services, we do not include the free forwarding of business mail to you, as we are unable to assess just how much mail each client will receive, and therefore require charging the cost of the Royal Mail postage plus a 15% handling fee for mail forwarding.

Is the bank account guaranteed?

The bank account is not guaranteed. Rapid Formations offers a free bank account referral to Barclays, and the decision to provide business banking facilities is subject to status and each banks' terms and conditions. All clients who open a business bank account via our referral system are eligible for 12 months of free business banking with Barclays. This service is only available to companies with UK resident directors and shareholders.

For further information please see our Barclays page.

If I buy a registered office address, does this cover all of my mail?

The registered office address can only be used for official government mail from Companies House and HMRC. If you also wish to use our address for general business mail, you should purchase the business address service.

Do I need to register my company for VAT?

You do not need to register for VAT until your annual turnover exceeds the VAT threshold, which from 1st April 2017, is £85,000. You can, of course, decide to register for VAT on a voluntary basis if your turnover is less than the threshold figure. As a VAT registered company, you can reclaim VAT paid on all goods and services purchased by the company.

For further reading on VAT consult the Rapid Formations blog: Do I need to register my limited company for VAT?

How do I reserve a company name?

There is only one way to reserve a company name at Companies House, and that is to actually form a limited company. No facility exists to simply reserve a company name without forming a company. If you wish to reserve a company name for future use, you should let HMRC know that your company is dormant. Consequently, HMRC will not expect a tax return to be filed, and you will only be liable to file inexpensive 'dormant accounts' instead of annual accounts.For further reading on dormant companies, have a look at our blog: A guide to dormant companies.

What type of company do I need?

Limited by shares companies: The vast majority of companies are formed with the objective of making a profit for their shareholders, and a private limited by shares company (also referred to as a 'limited' or 'ltd' company) is the standard corporate vehicle used for this purpose. A limited company is generally suitable to carry out most commercial business activities.

LLPs: Limited liability partnerships, or LLPs, are similar in structure to a traditional partnership; however, they enjoy the same limited liability of a limited company. They are generally used by professionals such as solicitors, dentists and accountants. The decision of whether to opt for a limited by shares company or LLP is not straightforward, as there are many differences between the two company types - perhaps the most important being taxation. For further reading on this subject, have a look at our blog: Limited company or LLP?

Limited by guarantee companies: This type of company is generally used by non-profit organisations such as workers co-operatives, membership organisations including students’ unions, sports clubs, and also charities. This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

Limited by Guarantee £24.99 +VATBuy Now

Ideal for clubs, workers' co-operatives and other non-profit organisations.

This package is ideal for all types of not-for-profit enterprises like clubs, sporting associations and membership organisations. It provides online incorporation of a company limited by guarantee, a complete set of digital (PDF) and printed company incorporation documents and access to our free Online Admin Portal where you can manage your company after registration.

Printed and bound incorporation documents are delivered free of charge within the UK. Printed and bound incorporation documents can be delivered overseas for the additional charge of Royal Mail postage plus 15%.

Please note: This package provides a standard limited by guarantee company and is not suitable for:

  • 1. A Charity company.
  • 2. A company that requires exemption from using the word ‘limited’ in the company name.
  • 3. A company using the words Association, Benevolent, Federation, Foundation, Society or Trust in the company name.
  • 4. A Right to Manage company.

To form these companies, please call our customer service team at 020 7871 9990, and we will be happy to assist you.

What’s included:

Private Limited Company in 3 to 6 Working Hours*

Companies House Filing Fee of £10.00 Included

Digital Certificate of Incorporation

Digital Memorandum & Articles of Association

Digital (PDF) Guarantor Certificate(s)

Digital Company Register with First Entries

Printed Guarantor Certificate(s)

Printed Certificate of Incorporation

Printed Memorandum & Articles of Association

Free Admin Portal to Manage your Companies

Free Support for the Life of your Company

Google Adwords Voucher worth £75

Free .com or .co.uk Domain Name

Limited by Guarantee £24.99 +VATBuy Now

*Most of our company incorporations are approved by Companies House within 3 to 6 working hours, however, this is dependent on Companies House workload, and it may take longer. If it is of great importance that your company is incorporated as soon as possible or on the same day, we always recommend you add the Guaranteed Same Day Service to your order.

Free .co.uk domain
£75 Google Adwords Voucher

Frequently asked questions

Are the package costs one-off, or annual charges?

They are one-off charges, and there are no extra costs payable to form a limited company or LLP.

If you purchase the All Inclusive Package, it includes the preparation and filing of your company’s first confirmation statement (previously known as the annual return), and you may wish to renew this service for year 2 at a cost of £35.00 plus VAT. Alternatively, you can use the customer area on our website to prepare and file your Confirmation Statement, and you will only be charged the Companies House filing fee of £10.00.

Do I need more than one person to form a limited company?

No, only one person is required. Although all limited companies require at least one director and one shareholder, it is common for one person to perform both roles.

Can I open a bank account in the UK if I don’t live there?

Our relationship with our banking partners does not extend to opening bank accounts for non-UK residents; however, it is possible to open a business bank account if your company does not have any UK resident shareholders or directors. This will involve contacting a bank directly, applying for the account and visiting the UK to meet with a bank and present the shareholders’ original ID and proof of address.

Please have a look at our blog on the subject: Business bank accounts for non-UK residents.

Do I need an accountant?

We recommend the assistance of an accountant with your company’s annual accounts and annual tax return, which will be due for filing (at Companies House and HMRC) 9 months after the end of your first financial year.

We would also recommend an accountant sets up your financial record-keeping and you obtain advice on how to take money out of your limited company.

Rapid Formations provides a free consultation with an accountant - either at one of their offices, or via Skype - where you will be introduced to the accountant's services and you will also have the opportunity to obtain some free tax and accounting advice.

Why do I need to pay for postage with the business address service?

When you purchase our business address service, you are buying the right to use our address as your trading / business address and publish it on your letterheads, invoices and website. We will also receive and log your mail onto our system and send you an acknowledgement that your mail has been forwarded to you. Unlike our service address and registered office services, we do not include the free forwarding of business mail to you, as we are unable to assess just how much mail each client will receive, and therefore require charging the cost of the Royal Mail postage plus a 15% handling fee for mail forwarding.

Is the bank account guaranteed?

The bank account is not guaranteed. Rapid Formations offers a free bank account referral to Barclays, and the decision to provide business banking facilities is subject to status and each banks' terms and conditions. All clients who open a business bank account via our referral system are eligible for 12 months of free business banking with Barclays. This service is only available to companies with UK resident directors and shareholders.

For further information please see our Barclays page.

If I buy a registered office address, does this cover all of my mail?

The registered office address can only be used for official government mail from Companies House and HMRC. If you also wish to use our address for general business mail, you should purchase the business address service.

Do I need to register my company for VAT?

You do not need to register for VAT until your annual turnover exceeds the VAT threshold, which from 1st April 2017, is £85,000. You can, of course, decide to register for VAT on a voluntary basis if your turnover is less than the threshold figure. As a VAT registered company, you can reclaim VAT paid on all goods and services purchased by the company.

For further reading on VAT consult the Rapid Formations blog: Do I need to register my limited company for VAT?

How do I reserve a company name?

There is only one way to reserve a company name at Companies House, and that is to actually form a limited company. No facility exists to simply reserve a company name without forming a company. If you wish to reserve a company name for future use, you should let HMRC know that your company is dormant. Consequently, HMRC will not expect a tax return to be filed, and you will only be liable to file inexpensive 'dormant accounts' instead of annual accounts.For further reading on dormant companies, have a look at our blog: A guide to dormant companies.

What type of company do I need?

Limited by shares companies: The vast majority of companies are formed with the objective of making a profit for their shareholders, and a private limited by shares company (also referred to as a 'limited' or 'ltd' company) is the standard corporate vehicle used for this purpose. A limited company is generally suitable to carry out most commercial business activities.

LLPs: Limited liability partnerships, or LLPs, are similar in structure to a traditional partnership; however, they enjoy the same limited liability of a limited company. They are generally used by professionals such as solicitors, dentists and accountants. The decision of whether to opt for a limited by shares company or LLP is not straightforward, as there are many differences between the two company types - perhaps the most important being taxation. For further reading on this subject, have a look at our blog: Limited company or LLP?

Limited by guarantee companies: This type of company is generally used by non-profit organisations such as workers co-operatives, membership organisations including students’ unions, sports clubs, and also charities. This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

Limited Liability Partnership Package (LLP) £29.99 +VATBuy Now

Online LLP formation.

Our Limited Liability Partnership package provides a ready-to-trade LLP, a free draft LLP Agreement, digital and printed incorporation documents, and access to our online admin portal to manage your LLP after the company is formed.

Upon your new LLP receiving approval from Companies House (usually within 3 to 6 working hours) we will forward the company documents and also a draft LLP Agreement to you by email. For those partnerships requiring a formal Agreement, return your completed draft to us by email. We will then prepare two printed copies for you and sent them by 1st class post to your registered office or alternate contact address.

It is not a legal requirement to have a formal LLP Agreement, however, it is required if you need to divide the share of profits and capital other than equally.

Please note: We will forward your printed and bound LLP documents to any UK address free of charge. If you require these documents posted overseas, a supplementary charge or Royal Mail postal charges +15% will apply.

What’s included:

Limited Liability Partnership in 3 to 6 Working Hours*

Companies House Filing Fee of £10.00 Included

FREE Business Bank Account

Digital Certificate of Incorporation

Digital (Word) Draft LLP Agreement

Digital Company Register with First Entries

Printed Certificate of Incorporation

2 x Printed copies of the LLP Agreement (if required)

Free Admin Portal to Manage your Companies

Free Support for the Life of your Company

Google Adwords Voucher worth £75

Free .com or .co.uk Domain Name

Limited Liability Partnership Package (LLP) £29.99 +VATBuy Now

*Most of our company incorporations are approved by Companies House within 3 to 6 working hours, however, this is dependent on Companies House workload, and it may take longer. If it is of great importance that your company is incorporated as soon as possible or on the same day, we always recommend you add the Guaranteed Same Day Service to your order.

Free .co.uk domain
£75 Google Adwords Voucher

Frequently asked questions

Are the package costs one-off, or annual charges?

They are one-off charges, and there are no extra costs payable to form a limited company or LLP.

If you purchase the All Inclusive Package, it includes the preparation and filing of your company’s first confirmation statement (previously known as the annual return), and you may wish to renew this service for year 2 at a cost of £35.00 plus VAT. Alternatively, you can use the customer area on our website to prepare and file your Confirmation Statement, and you will only be charged the Companies House filing fee of £10.00.

Do I need more than one person to form a limited company?

No, only one person is required. Although all limited companies require at least one director and one shareholder, it is common for one person to perform both roles.

Can I open a bank account in the UK if I don’t live there?

Our relationship with our banking partners does not extend to opening bank accounts for non-UK residents; however, it is possible to open a business bank account if your company does not have any UK resident shareholders or directors. This will involve contacting a bank directly, applying for the account and visiting the UK to meet with a bank and present the shareholders’ original ID and proof of address.

Please have a look at our blog on the subject: Business bank accounts for non-UK residents.

Do I need an accountant?

We recommend the assistance of an accountant with your company’s annual accounts and annual tax return, which will be due for filing (at Companies House and HMRC) 9 months after the end of your first financial year.

We would also recommend an accountant sets up your financial record-keeping and you obtain advice on how to take money out of your limited company.

Rapid Formations provides a free consultation with an accountant - either at one of their offices, or via Skype - where you will be introduced to the accountant's services and you will also have the opportunity to obtain some free tax and accounting advice.

Why do I need to pay for postage with the business address service?

When you purchase our business address service, you are buying the right to use our address as your trading / business address and publish it on your letterheads, invoices and website. We will also receive and log your mail onto our system and send you an acknowledgement that your mail has been forwarded to you. Unlike our service address and registered office services, we do not include the free forwarding of business mail to you, as we are unable to assess just how much mail each client will receive, and therefore require charging the cost of the Royal Mail postage plus a 15% handling fee for mail forwarding.

Is the bank account guaranteed?

The bank account is not guaranteed. Rapid Formations offers a free bank account referral to Barclays, and the decision to provide business banking facilities is subject to status and each banks' terms and conditions. All clients who open a business bank account via our referral system are eligible for 12 months of free business banking with Barclays. This service is only available to companies with UK resident directors and shareholders.

For further information please see our Barclays page.

If I buy a registered office address, does this cover all of my mail?

The registered office address can only be used for official government mail from Companies House and HMRC. If you also wish to use our address for general business mail, you should purchase the business address service.

Do I need to register my company for VAT?

You do not need to register for VAT until your annual turnover exceeds the VAT threshold, which from 1st April 2017, is £85,000. You can, of course, decide to register for VAT on a voluntary basis if your turnover is less than the threshold figure. As a VAT registered company, you can reclaim VAT paid on all goods and services purchased by the company.

For further reading on VAT consult the Rapid Formations blog: Do I need to register my limited company for VAT?

How do I reserve a company name?

There is only one way to reserve a company name at Companies House, and that is to actually form a limited company. No facility exists to simply reserve a company name without forming a company. If you wish to reserve a company name for future use, you should let HMRC know that your company is dormant. Consequently, HMRC will not expect a tax return to be filed, and you will only be liable to file inexpensive 'dormant accounts' instead of annual accounts.For further reading on dormant companies, have a look at our blog: A guide to dormant companies.

What type of company do I need?

Limited by shares companies: The vast majority of companies are formed with the objective of making a profit for their shareholders, and a private limited by shares company (also referred to as a 'limited' or 'ltd' company) is the standard corporate vehicle used for this purpose. A limited company is generally suitable to carry out most commercial business activities.

LLPs: Limited liability partnerships, or LLPs, are similar in structure to a traditional partnership; however, they enjoy the same limited liability of a limited company. They are generally used by professionals such as solicitors, dentists and accountants. The decision of whether to opt for a limited by shares company or LLP is not straightforward, as there are many differences between the two company types - perhaps the most important being taxation. For further reading on this subject, have a look at our blog: Limited company or LLP?

Limited by guarantee companies: This type of company is generally used by non-profit organisations such as workers co-operatives, membership organisations including students’ unions, sports clubs, and also charities. This type of company has no share capital or shareholders, and instead has guarantors who undertake to guarantee a certain amount of money should the company become insolvent.

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