Setting up a Limited Company for contracting
Jun 21, 2018
If you do not already work through your own limited company, our specialist contractor accountants are here to help. Our team will guide you through the entire process, from choosing a company name to registering your business with Companies House. With our support, your business could be up and running within 48 hours, leaving you free to concentrate on your clients.
Incorporating your limited company
We will help you set up the right type of limited company by understanding the type of services your company will provide and reviewing your personal circumstances. We will then ensure all essential company formation matters are dealt with before completing the registration on your behalf and submitting the relevant documentation to Companies House.
Choosing a name for your company
You will need to choose a name for your new company which is not already being used by another company. We can carry out the necessary checks to ensure the name you wish to use is available to you.
Registered office address service
You need to decide what address your company’s official correspondence should be sent to. If you prefer you may use our address for this purpose provided we are given adequate notice of this.
Registering your company for PAYE and Corporation Tax
At your request we will ensure that an application is made for your company to be registered for all of the above. The processes involved are discussed further in the sections headed Statutory Returns and Tax.
Opening a company bank account
You will need to open a company bank account. We work in partnership with Cashplus and theRoyal Bank of Scotland (RBS) with whom you may wish to open a business account. Alternatively, you may choose to make these arrangements yourself.
Registering your company for VAT
We will advise you about VAT registration for your business. It may be that you have to register for VAT because you are generating sales in excess of the VAT threshold, or it may be that you would benefit from registering for VAT (often under the VAT Flat Rate Scheme). We can apply to register your company for VAT and prepare the necessary VAT returns for you. If you wish us to do that you must provide us with all the information and documentation that we need to make the periodic VAT returns.