Setting up a limited company - pain free!Setting up a limited company at Companies House can now be done online, at very low cost; however it would be worth consulting with your professional advisors during a free of charge consultation to establish whether they believe that any specialist input is required for the formation of your business. These may include ideas for tax or commercial reasons surrounding share structures, and the company’s statutory documents.
Depending on the nature of your business, you may also be required to register with a regulatory body, such as ABTA (the Association of British Travel Agents), or FCA (the Financial Conduct Authority). At this stage it is worth reviewing the membership requirements of any such associations or trade bodies, to find out the following:
Financial requirements – do they require you to have a certain level of capital?
Operational requirements – is there a code of ethics that you have to adhere to?
Mandatory membership – do you need membership to trade or is it just desirable?
Membership benefits – does membership solely allow you to trade, or are there added benefits to becoming a member?