Company Formations
Starting a new business?
When you want to start a Limited Company, forming the company is only the first step. You also need to think about registering for the various HMRC business taxes and this is something that a company formation agency will not offer.
Ready to setup YOUR company?
Whether you are an existing business (trading as a Sole Trader) looking to incorporate or starting a new Business through a Limited Company, we are here to help ensure that your Company Formation is done right from start.
Bright Beans Accountancy are London Business Accountants, offering a fully comprehensive advice on setting up a new Limited Company to help best start for your business.
When starting a Limited Company, Company Formation is actually the first step only, and you need to be thinking about setting up various registrations with HMRC business taxes that a standard company formation agency does not offer.
We offer full comprehensive service that includes all accounting and tax compliance registrations such as;
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VAT Registration
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PAYE Registration
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Registered Business Address & Full Mail Forwarding Service
What you can expect from our Start Up Services
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3 Hour online company formation
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Documentation by email or post
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Business start up pack
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Memorandum & Articles of Association
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Accountants letter to open business bank account
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Advice on most suitable structure for your business
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Company registration for VAT, PAYE and Corporation Tax
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Company name availability check
Choosing the type of Limited Company
Private Limited company by Shares (Ltd) – Most common
By far the most common Limited Companies are formed this way for Small Businesses, Contractors and Freelancers. The Ltd Company issues shares and profits can be distributed through Dividends. The liability of a member of a Company Limited by Shares is limited to the amount, if any, unpaid on the members shares.
Once the shares are fully paid, then in general there is no further liability for the Shareholder.
Hence if the company becomes insolvent the members are not required to make any further contribution to discharge its debts.
Company Limited by Guarantee
This type of company is commonly used for Charities
The liability of members is limited to the amount that they undertake to contribute to the assets of the company in the event of this being wound up.
If such a company is wound up, each member may be required to contribute up to the amount of their guarantee towards the payment of debts incurred
while they were a member. The amounts involved are normally small.
Public Limited Company (PLC)
The key difference between a Ltd Company and PLC is that a Ltd Company cannot offer their shares or other securities to the public, whereas public companies can.
The other main difference is the requirement to have an increased security afforded to creditors by having a minimum allotted share capital of £50,000 before it can obtain a trading certificate as a PLC.
The quickest start to trading
If you’ve been through a previous company formation, you’ll know the frustration that comes from being eager to start trading, but having to wait for all the paperwork to be filled out and submitted.
Let Bright Beans Accountancy do the work
We’ll fill out and submit the forms for you, so you can start trading quickly.
Filling out the forms
Bright Beans Accountancy will take care of all the compliance work around company formations and provide you with all the documents such as Articles of Association and Memorandum of Articles.
By far the most common Limited Companies are formed this way for Small Businesses, Contractors and Freelancers. The Ltd Company issues shares and profits can be distributes through Dividends.
The liability of a member of a Company Limited by Shares is limited to the amount, if any, unpaid on the members shares. Once the shares are fully paid, then in general there is no further liability for the Shareholder.
Hence if the company becomes insolvent the members are not required to make any further contribution to discharge its debts.