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Setting up a Limited company online

Personal Finance & Money Asked on September 29, 2021

I am going to set up a Limited Company for myself, as a sole owner. An accountant quoted me a good amount of money to do it. I have seen a number of online companies who say they help you do it for a fixed fee depending on the ‘package’ you buy. The can charge form only £12 to £200.

I have even found some of these companies in the TrustPilot reviews with several reviews. I do not want to put the names here in case I am accused of promoting companies but, if somebody tells me it is OK to do so, I can mention them.

Are they reliable or just cowboys looking for easy money?

Has anybody here used them?

2 Answers

How certain are you that setting up an LLC is something that would benefit you? How aware are you of how they work, what filings they need, etc?

If you are perfectly confident in the entire process, the value of well-qualified personal service is limited - what will they teach you if you know everything already?

But if like most people you have minimal exposure to these concepts before considering them for yourself, then you may find comfort in dealing with a person you can talk to, who can answer your questions, rather than an almost automated service that might do the job, but might not explain it to you in an understandable way.

Like most things, with financial services you get what you pay for - I suggest you even ask these accountants who you feel are charging too high, "What would be the benefit of using you instead of x service online for 10% of the price?". If you believe their answer, that settles it. If you doubt their answer, do more research on your own about the ideas they raise in response, and figure out if you agree with it or not.

Answered by Grade 'Eh' Bacon on September 29, 2021

To set up a UK Limited Company, you go to the government website, and you'll pay £40 if I remember correctly. Here's their website:

https://www.gov.uk/government/organisations/companies-house

Anyone else just wants to be a middle man and charge you money to fill out forms that you can easily fill out yourself.

Answered by gnasher729 on September 29, 2021

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