Although it is possible to register a limited company yourself, unless you’ve done it before you’re probably going to need to engage the services of either a solicitor, accountant, chartered secretary or a company formation agent.
Formation agents, such as the National Business Register, use their own software that works directly with the Companies House systems. If you want to register your company electronically (most are registered this way) you will need to have the specific Companies House electronic interface – hence the need for a formation agent.
However, you can still deliver the physical documents directly to Companies House without the need of a formation agent or specific electronic interface.
Prices for formation agents can cost anything up to around £200 depending on the level of service you require. A key advantage of using a formation agent is the advice they can give you on the compiling of the necessary documents and the right structure for your business. Companies House does not provide this service when registering, so if you are unfamiliar with the process it’s advisable to get help to avoid errors.
Going through the registration process yourself can be time-consuming, especially if you make a mistake, and Companies House staff will not advise you about specific matters such as the content of the memorandum and articles (what are these?).
Alternatively, you could also get assistance from an online registration company. The standard service usually costs £80-£100 including fees, but since some documentation needs to be posted, registration takes three to eight days. This option is usually cheaper than using a formation agent, although you will not receive the same level of personal service.
Finally, you can buy an ‘off the shelf’ company. You will receive a ready-made limited company that has designated company officers listed on the paper work. You simply transfer your name, and the names of any other company directors, company once you receive your documentation.
The process can be completed on the same day and many accountancy firms will have several ready-made limited companies which they can sell to you. This is the quickest option, and with the exception of registering the company yourself, can often be the cheapest too.
