Select a package

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.

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.

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.

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.

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.