What's required to form a Company on behalf of client? - The Book-keepers Forum (UK)

123_Lesley · Veteran Member

What's required to form a Company on behalf of client?

ICBUK · Guru

Hi Lesley,

There is no law to say who can or cannot, so you would be fine to do it legally.

However, it most likely would fall outside of the scope of your Practice Licence and therefore possibly your insurance.

You need to make sure your client does not assume your professional services include company formation, and that you are somehow giving advice.

There are quite a few options to setting up a company, but it can be done online quite simply when you have picked which option to go for.

123_Lesley · Veteran Member

Thank you James,

I think for the time being I will continue to let the clients do this themselves as it seems pretty straight forward for them and I'd rather not have the responsibility if it does fall outside my insurance.

Thanks again.

ClawzCTR · Guru

I did one for a client a while ago, only took about 30minutes to complete online... :/ (i had the client with me so anything i needed i just asked them for).

Heavens above... 4 hours!!! :/ WOW! lol. Thats a very long time.

If you were to do it then you will need to know how many shares the company will issue (normally 1 if the owner wants to go to Ltd from sole, Accounting dates 'from-to', addresses of registered offices and the owners, who they are with NI numbers and there role in the business, and then payment details.) Then BAM, all set up...

Make sure you/they spell the name of the company right and DOUBLE CHECK EVERYTHING before submitting, as any changes after registering will cost £8 per change! (i made this mistake, so i speak from experiance! :lol: )

-- Edited by ClawzCTR on Monday 23rd of January 2012 12:10:04 PM

MarkS · Expert

Very simple to do.

Only takes about half an hour to do.

You can set up one directly on Companies House website (cost £18) or you can go to an incorporation company (one that i have used in the past is Oswalds) where they will issue a cert of incorp, 6 copies of art of assoc and company stat books. (cost £125+VAT)

Regards

MarkS

Jo Gordon · Veteran Member

I used Complete Bookkeeping to set up my company as I'd never done it before. I got their details from somewhere on here. It took me 10 minutes and cost me £34.99. I had the company number the following day.

I did some mystery shopping to help determine my charge out rates and when doing so contacted a local accountant who works from home. Posing as a woman looking for a bookkeeper for her husband's joinery business I said he was self employed but paying tax at the higher rate. The accountant very kindly offered to form a limited company which apparantly would save us tax! He only wanted a mere £750 to do it!!! What a lovely man.... I wonder what they equates to an hour? I bit more then I intend to charge I think...

gbm · Guru

Jo, sounds like discriminatory pricing, you obviously sounded too well off!

We charge clients around the £100 + VAT mark for setting a company up - the cost of the company itself is fairly minimal, as Mark pointed out, but we tend to include a meeting to discuss what's involved, how it differs from trading as a s/t, pship or LLP, the DLA, remuneration planning, motor costs, etc.. I've even seen some firms throw it in as a freebie, on the back of the work they can get from it.

RobRJBS · Senior Member

Hi all,

If you are regularly incorporating businesses for clients I have been using The Formations Company. They charge £4.99 to set-up a new company, the cheapest I have seen.

It is then up to you and your client what you charge for meetings, tax registration etc.

Donna CBK · Senior Member

"I used Complete Bookkeeping to set up my company as I'd never done it before. I got their details from somewhere on here. It took me 10 minutes and cost me £34.99. I had the company number the following day."

just to say thank you for the mention of using our services - not often you hear when a service has been used. I believe the 4 hour comes from turn around time not time to complete - this can be very quick as mentioned above however if you are completing on behalf of someone it can take time gaining the correct information and checking details.

Glad it went well for you.

-- Edited by Donna CBK on Tuesday 7th of February 2012 08:30:03 PM

davissjeffer · Newbie

This is one of the best topic under discussion. The requirements of the company on behalf of a client for a lawful purpose is that the required documents should be incorporate with the company. It is up to the members to appoint directors who will run the company on their behalf, When a Customer searches the company records, they see the electronic image reproduces on-line. One or more persons those who are forming a company should possess all the requirements needed. Could you please provide some more attachments regarding the topic?

-- Edited by davissjeffer on Tuesday 28th of February 2012 04:44:10 AM