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How do I set up a contractor limited company?
Posted Jul 28, 2009
Once you've decide to set up as a limited company contractor, the process of forming a limited company is fairly straightforward.
All company formations are registered at Companies House, regardless of whether you use an accountant or formations agent to take care of the set up process.
Company formation steps
1) Choose a company name.
2) Choose company personnel (One or more directors, and a company secretary if you wish to appoint one).
3) Decide upon your shareholdings (If you are splitting the shares with another person, otherwise you will own them all)
4) Provide your name, address, date or birth, and other details during the application process.
5) Submit several forms to Companies House - including a Memorandum of Association, Articles of Association, and completed Form 10 and Form 12 (more details on Companies House guide GMF1.
Can someone set up my company for me?
You can set up a company via Companies House, which costs £20 for the standard service, and £50 for a same day service, making sure you provide all the required documentation and fee.
Alternatively, many contractors opt to use a company formations service (such as Duport) which takes care of the whole process on your behalf, or set up a company via their contractor accountants. This is very much the hassle-free route, and shouldn't cost a great deal. Some accountants may include the costs of forming your company in their standard monthly fee.
Further Information
- You can set up a limited company right away via our long-term company formations partner, Duport.
- Try our full guide to setting up a limited company.
- You can access the Companies House guide to company formation here.
- Also, try our sister site, Bytestart, one of the most visited sites in the UK for everything to do with setting up a business.
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