What do I get?
What about fees and taxes?
Is the whole process online?
How long does it take?
Can I choose any company name I like?
Can I check to see if a name is taken?
What are the legal requirements?
I have read that I need to keep printed records. Is this right?
Are there any limitations?
What if I am not a UK resident?
Is director's indemnification included?
Is a company seal included?
Can I incorporate several companies?

What do I get?

You get a brand new company, absolutely "clean" (with no history or liabilities) and ready to trade. Unlike many providers, we make sure that all the necessary paperwork is done before you receive it.

You will not need to fill in statutory registers yourself, unlike many company formations. We do all that for you.

What about fees and taxes?

The price you pay for your company formation includes VAT the only extra is the Companies House fee of £15. That's it £20 total. There is nothing else to pay. Not even VAT, that is included. There is nothing else to pay.

Is the whole process online?

Yes! There are absolutely no paper forms to fill in whatsoever. No visit to a solicitor

When your company is formed, we send you all the documents you need. You will need Adobe Reader in order to access them.

You can rest assured that your payment details are processed safely over a secure, encrypted link.

How long does it take?

We have done everything we can to make the process as simple as possible. Filling in the forms should take no longer than 5 minutes.

Once we have received your completed forms and payment is authorised, we start to incorporate your company. This depends on Companies House, but normally takes much less than one working day, often about 4 hours.

When your company is ready, we send you all the documents you need by e-mail. With 5PoundFormations.co.uk, you don't have to wait for the post - your company will be ready to trade immediately.

Can I choose any company name I like?

Yes, as long as it is legal.

The main legal requirements are:

• It must end with "Limited", and it cannot contain the word "limited" anywhere else in the name.

Examples: WXYZ Technology WXYZ Technology Limited (but Limited will be added automatically)

• It must not be a criminal offence to use the name.
• It must not be the same as another company's name. Companies House ignores spaces, punctuation, the type of company, the endings "Company" and "and Company", and abbreviations. It also treats "&" the same as "and".

Examples:   Marks and Spencer Ltd.   Mark, Sand, Spencer plc.   Marks & Spencer Company plc.   Marks & Spencer & Co. plc.   Mark Spencer Consulting Ltd. but check first as M&S may object and force you to change the name later

• It must not be offensive.
• It cannot contain a number of sensitive words or expressions, unless you obtain special permission. If you want to use one of these words, we recommend that you initially form your company with a different name, and try to change it later.

Examples:   British Widget Company Ltd.   Widget Makers Insurance Co. Ltd.   Widgets International Limited   The Fine Widget Company (UK) Limited

Please note that even if your company is formed, you may be ordered to change the name later if it is "too like" an existing company's name. We recommend that you check a number of combinations to see if there is a company with a similar name.

Can I check to see if a name is taken?

Yes, by visiting our name check page. This opens up a link to the Companies House web site, where you can search for any name. We suggest you check a number of different possible spellings and other names.

If you choose a name which has already been taken, your company will be rejected by Companies House and it will slow down the process. There is a £10 charge (inclusive of VAT) for re-submission, unless the name was not on the register before you send your order.

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What are the legal requirements?

• You don't need to worry about paperwork, because we do all that for you. However, there are a few legal requirements which all companies have to meet.
• You must have at least one director. Undischarged bankrupts cannot be directors, nor can anyone who has been disqualified.
• There is no strict age limit for directors in England and Wales, but to ensure that incorporation goes smoothly, we will only accept directors who are over 18.
• You must have a company secretary, we provide the company secretary .
• For normal trading companies, there must be at least one shareholder. This can be the same person as a director. Directors run the company, but shareholders own it.
• You must have a registered office in the country of incorporation (England/Wales). We provide this service to companies registered in England

I have read that I need to keep printed records. Is this right?

No, it isn't. Unfortunately, there are some agents who insist on mis-stating the law, in order to charge you extra for printed copies.

What the law actually says is that you need to make your statutory registers available for inspection. The simplest way for most companies to do this might be to print it.

But with our Registered Office and Company Secretary Services, you don't need to worry about that. We keep and maintain your registers, and provide proper facilities for inspection. There is no need to pay for printed copies.

The one document which you are supposed to print the Certificate of Incorporation. You can either do this yourself, or if you do not have the right kind of ivory 160gsm card, we will be happy to do it for you and post it on for £4.99 + VAT (£5.86), after you have formed your company.

You are also obliged to provide a "printed copy" of the Memorandum and Articles of Association to a shareholder who asks for it. We supply these documents by e-mail, in standard PDF format. While most people are happy enough with this version, you are most welcome to purchase bound copies from us for £4.99 + VAT (£5.86) each.

Are there any limitations?

We have tried to make our services as widely available as possible. However, at this price, we have had to include a few rules.

• Our services are currently only available in England and Wales. Sorry if you are in Scotland or Northern Ireland, but at the moment we do not have the premises to support the Registered Office Service. You can of course buy a company registered in England, and trade throughout the UK in just the same way. All it means is that you will have to continue to use our service (which, of course, we recommend anyway), or find another address in England or Wales.
• The number of directors and shareholders at the time you form your company is limited to 5. In the unlikely event that you need more, you can add them later.
• All companies are formed with an authorised share capital of 1,000 shares of £1 each. You can increase this later free of charge, or change the share values at a discounted rate. (If, like most people, you do not know what we are talking about, don't worry. This simply relates to the number and "nominal value" of shares. These numbers will suit all but the most complicated new businesses).
• You may not form a comapny which has other companies as directors or shareholders.

What if I am not a UK resident?

We are happy to offer our services to non-UK residents.

Unlike other European countries, neither the directors nor the owners of a UK company have to be resident in the UK. But the company will need a registered office in England. We provide this service free of charge for 6 months.

Many non-residents are now choosing to incorporate in the UK to take advantage of its language, relatively low tax rates and sensible company law. It is the perfect base from which to sell your goods and services to the 480 million citizens of the EU. You should consult your lawyer for more details.

For people wishing to start a UK business from abroad, we strongly recommend the complete StartNewBusiness package.

Is director's indemnification included?

Yes. All our companies have this written into their Articles of Association (the rules which govern the way the company is set up). Most modern companies are formed in this way, and you do not need a separate Indemnification Agreement for directors. This can be important, and we recommend that you always check when forming your company that this is included.

Is a company seal included?

No - because you don't need one. Company seals have been unnecessary for nearly 20 years. Save your money!

Can I incorporate several companies?

Yes, but each is formed separately.