At Gordon Ferguson we can set up limited companies within a few days. In addition we can get you an appointment with a bank manager to get a bank account opened that day and then make plans to register your company for VAT and PAYE.
In order for us to set up your company all we need is your new company's proposed name (we would always suggest to have search at Companies House to see if the company name is available).
Next step is the Registered Office for the company. This is the address which will be on record at Companies House and would be used for sending important documents to. Typically clients would use their accountant's or lawyer's address. We can offer our Eurocentral address which can add credibility should someone search carry out a search Companies House. Alternatively you can use a home or work address. If you are setting up a Scottish company you must have a Scottish address as your registered office.
Thereafter we need the company director's full name, address, date of birth and national insurance number. The company director's will be listed at Companies House and would generally be seen to be the people who are running the company.
Finally we would need details of how many shares the company wants to issue and who the shareholders are. Typically we would suggest 100 x £1 Ordinary Shares but this can be higher or lower. The shareholders are effectively the owners of the business and some thought should be given to the split of the shareholdings. The shareholders can receive a distribution of profits, commonly known as dividends, as a method of tax efficient earnings. Please give us a call for tax and dividend planning to minimise the personal tax exposure of the shareholders.
Once the company is incorporated we will email you a copy of the Certificate of Incorporation and Share Certificates. You will need the certificate of incorporation to open a company bank accounts.
Setting up an LLP Company Formation
A Limited Liability Partnership has many similarities with a standard incorporated company however it can adopt the organisational flexibility and tax requirements typical of a non limited partnership. An LLP will not have directors or shareholders just members. Like setting up a Limited Company we need the name of the business and the member's details (Full Name, Address, Date of Birth and National Insurance Number). The LLP should have a partnership agreement in place that will set forth the terms of the agreement. Should you require a Limited Liability Partnership Agreement please give us a call and we can generate an agreement to suit your requirements. The partnership agreement would stipulate the duties and general conduct of the memebers. Areas of consideration would include:
- Division of profits and losses
- Decision making procedures
- Resignation of members
- Winding up procedures
To set up a Limited Company or Limited Liability Partnership please give us a call today to discuss your requirements.