Setting up a limited company

mellowsun

I've just done this last week but starting to think I didn't do it the right way!  

Basically I used one of these online company formation agents, which to be fair, was very easy and went smoothly, I'm using their registered address, and they'll sort VAT registration etc.

But of course, my next step is to sort out an accountant, and that's when I find out that the best online accountants will set up the company for you anyway and let you use their registered address for free. I can see the benefit of having everything in one place, particularly for the PAYE and VAT returns.

So how easy is it to have one of these online accountancy firms pick up from where the company formation agent left off? Am I worrying over nothing? 

quarky

I ran one about 15 years ago so it might have changed a little, but it made basically no difference at all. I think your biggest issue may be that letters about your accounts will come to you rather than your account, but if that is a such a big deal, you should be able to change your registered address I would think? 

Grunfeld

mellowsun said:

So how easy is it to have one of these online accountancy firms pick up from where the company formation agent left off? Am I worrying over nothing? 

Very easy and shouldn't have any problems. 
I've had four limited companies in the past and the only time I had grief was the first one which I tried to do myself.  The ones after that I just bought off-the-peg like you did.  I think the first of those I used their accountants but after that I used my regular bloke.

mellowsun

@quarky @Grunfeld  thanks for the info. Yes, probably the registered address is the only thing I'll need to change. I've paid 20 quid for a year up front to use the formation agents' London address, but hopefully it is straightforward changing this to the address of the online accountant (not picked one yet, currently considering some of the ones recommended by ContractorUK)

quarky

Mellowsun, are you just starting to contract? I am thinking about it, but I was talking to a friend who works for part of the NHS, and they just basically dumped all of them (told them to pay PAYE levels of tax or go, so everyone in his department went).

There was talk about changes to expenses and things that were supposed to come in with this years budget, but I haven't read anything about it. This could have been related though?

TL:DR, are Government contracts now a pain in the arse?

mellowsun

@quarky I'm not contracting per se, I have some projects lined up with a couple of companies, plus I'm developing some software that I'll sell directly eventually.  I've was self-employed about 8 years ago but this was as a sole-trader. Then I went back to permie roles after doing my PhD.

I think the days of contractors doing 9-5, 5 days a week on a rolling contract, in the public sector at least, may be over.

Hiring in expertise for specific projects where you quote for the project, rather than getting paid a daily rate, may be the way things are headed, I don't know.  I've tended to work on a project basis anyway.

fretmeister

Get a local accountant you can actually go and see. 

mike257

What's the benefit of using these company formation sites? I've just gone limited after four years self employed, I just went on the Companies House website, paid £12 and did it myself! Not sure what else you get for your dollar from these other places.