Company Formation

Our company formation packages start at £51.99 (our Basic Package) and go up to £159.99 (the Non-Residents Package). The required £50.00 Companies House filing fee is always included as part of our package price.

At the core of all our company formation packages is the registration of your company. There is a difference in pricing between the packages because of the additional extras that are available.

For example, whilst the Basic Package will provide you with everything you need to get your company started, it does not include a Registered Office Address Service or Confirmation Statement Service. If these are services that you require, rather than purchase them separately later, you can save money and pick them up at the same time as forming your company through our Privacy Plus or Fully Inclusive Packages.

No, being a UK resident is not a requirement for forming a company. Provided that you are at least 16 years old, are not an undischarged bankrupt and have not been disqualified from being a company director, we can help you form your company, regardless of your location and nationality.

If you are a non-UK resident, you may be interested in our Non-Residents Package (available for £159.99). This provides you with everything you need to register your company as someone not living in the UK, including a UK address to use as your company’s registered office address (you can run your company from anywhere in the world but your registered office address must be based in the UK) and our Full Company Secretary Service.

It also includes a referral to WorldFirst, to open a WorldFirst Business Account, providing you with access to a UK sort code and account number, something that has previously been difficult for non-UK-based individuals.

It will take about 15 minutes to complete and submit our simple online application form, where you will insert the details of your new company. We will conduct a pre-submission review of your order, and then forward it to Companies House, who usually take up to 24 hours to register a limited company or LLP. Please note, this timescale is subject to Companies House workload on the day and it can sometimes take longer.

We accept payment via: Visa Credit, Visa Electron, Visa Debit, Visa Purchasing, V Pay, Maestro, Mastercard, Mastercard Debit and American Express.

As soon as Companies House incorporate your company, we will send you an order fulfilled email with PDF copies of your company documents attached, and a note of your Companies House Authentication Code. The attached documents will include the certificate of incorporation, memorandum and articles of association and share certificate(s). Unfortunately, Companies House do not provide any updates on progress during the company registration process.

The majority of companies set up in the UK are companies limited by shares - also known as private limited companies. They are used to conduct normal commercial business with the purpose of the owners (shareholders) making a profit, whilst providing limited liability protection should the company hit financial problems.

Alternatively, if you wish to start a non-profit organisation, perhaps for a sports club or workers co-operative, you will need to form a company limited by guarantee. Another structure is the limited liability partnership or LLP, used by professionals who require limited liability, but are not allowed to trade as a limited company by their professional governing body.

QCF also provide several limited company structures with specific requirements and purposes: companies with multiple share classes, charities, right to manage companies, property management and PLCs.

As part of the company formation process, you will need to issue shares in the new company. Shares determine ownership in the company. Whoever has the most shares, owns the largest stake in the company. What’s more, shareholders are personally liable for the unpaid nominal value of the shares that they hold. It’s therefore important that you issue the correct number of shares from the outset.

It’s advisable to keep things simple. If your company has one shareholder, whether you issue them with 1 or 100 shares, they will own 100% of the company, so in this instance, we suggest issuing just 1 share.

If there is more than one shareholder, you need to consider how the shares are split to ensure this represents the ownership of the company. For example, if two shareholders are to own an equal share in the company, you could issue them both with 1 or 100 shares. Provided they have the same number of shares, the ownership will be split 50/50. Again, to keep it simple, in this scenario, we advise issuing 1 share each.

Things get slightly more complicated when shareholders own different percentages of the company. However, even in these instances, we recommend issuing the minimum that you can whilst still being able to demonstrate the required split. For example, if a company has three shareholders, with a share split of 50/25/25, you could issue:

• Shareholder A with 2 shares
• Shareholder B with 1 share
• Shareholder C with 1 share

If you wish to have variation in the rights and privileges attached to the shares that you issue, we can assist you with our Multiple Share Class Company Package (available for £29.99). Also, once your company has been set up, we can help you in issuing new shares and transferring shares between shareholders.

The best way to open a business bank account for your limited company is to let us make the application for you, with one of our 8 banking partners, including Barclays, NatWest, Zempler, ANNA, Tide, Mettle, and Monzo.

All of our company incorporation packages include a business banking option. Simply choose your desired bank account when you reach the Banking Partners page during the company application process. As soon as your company has been formed, we will send you an email containing a link to apply for your chosen bank account. Once you have completed your application, your business bank account will be open within minutes or days - depending on which bank you have chosen.

We have the best choice of business bank accounts in the UK company formation industry. So whether you are looking for an account with a quick and easy online application, one that requires no credit check, or a period of free business banking - we believe we have the bank account which will suit your needs.

QCF offer three address services. The registered office address and service address are legal requirements for all limited companies and LLPs. Companies House require an official correspondence address for the company (the registered office address), and an official address for company directors, shareholders and company secretaries (the service address). Both addresses are placed on the public record and so many clients prefer to use our address and protect the privacy of their home address.

The third service is the business address which is not a legal requirement, but provides a prestigious business location in Covent Garden, London.

Your company can start trading as soon as it has been registered at Companies House (usually within 24 hours after submitting your application). If you decide to start trading immediately you must register with HMRC for Corporation Tax within 3 months of starting the trading activity. Failure to do so can result in a penalty fee being imposed.

As well as registering your business for Corporation Tax, you should also open a dedicated business bank account for your company as soon as possible. Whilst this isn’t a legal obligation, it will help you keep your personal and business finances separate, something that will prove useful as you deal with your new accounting and bookkeeping responsibilities.

A dormant company is one that is not carrying out any business activity and also not receiving any income. The process for registering a company that is going to be dormant is the same as registering a company that will be trading. The difference is what happens after the company has been registered. To make a company dormant, you must:

1. Ensure the company does not partake in any business activity
2. Write a letter to HMRC informing them that the company is dormant (this means that you will not have to register for Corporation Tax or file a Company Tax Return)
3. Submit your annual confirmation statement in accordance with the due date
4. File annual dormant company accounts in accordance with the due date

Dormant status can then be maintained by continuing to file a confirmation statement and dormant company accounts as and when they are due. If the company does start trading, HMRC must be notified within 3 months.

The cost of starting up and maintaining a limited company itself is small, with the company registration fee and filing of the confirmation statement being relatively inexpensive. Filing company accounts is free unless you miss your deadline, in which case penalty fees are imposed (the total depends on how late you are). You should also be aware of Corporation Tax - the tax limited companies pay on profits - which is currently 25%.

Apart from these, the costs associated with running a limited company are generally the same as with any other business type. For example, the costs involved when:

• Paying VAT
• Employing staff
• Hiring an accountant (and other business specialists)
• Renting business accommodation (and the utilities that come with this)
• Taking out business insurance
• Using certain banks

The short answer is yes! If you register a company and decide not to start trading, closing (or striking off) the company is a simple and cheap process. QCF provide a cost-effective Company Dissolution Service. If the company has traded, it is slightly more complicated, as you will be required to file up-to-date accounts with Companies House and HMRC, and making sure all taxes are paid, prior to closing the company.