Is It Better to use a Company Formation Agent?
September 28th, 2008 . by LooseleafI am planning to form a company and was wondering whether it would be better to do this via Companies House directly, using an Accountant or solicitor or a company formation agent.
On carrying out some research I found that the accountant that was recommended to me would charge a total of £250 + VAT for registering the company and an hour of tax advice. Whilst this has obvious advantages in terms of the tax, I do wonder just how much personalised recommendations I would receive. After all, it would take me about two hours to just relay and explain my personal financial circumstances.
The option of using a company formation agent seemed to be the optimal solution as I could register my business for about £30, giving an immediate saving of £220. Even with some of the premier packages offered by the incorporation agents I would still be less with money compared to the Accountants solution.
Starting my own business, I suppose I should get use to cutting costs and carrying out research of taxation and other matters on my own.
The direct application through Companies House was a non starter. From what I read, these company formations are thwart with complications, form errors and takes about three weeks to receive a certificate of incorporation.
Prior to investigating company formations, this was a subject I knew nothing about and I am delighted that I was able to comprehend and evaluate the options so that I could reach an information conclusion. There is hope in starting a business for me yet.