Registering a business

[trigger_andy]

Hey all,

 

I need to register a business to get finance for some equipment. How do I go about this and is it very time consuming?

 

Cheers,

 

 

[Khriss]

Registering a Ltd company cost abt 40 quid n takes half hour. K

( Vat register if you wish) 

[trigger_andy]

1 minute ago, Khriss said:

Registering a Ltd company cost abt 40 quid n takes half hour. K

( Vat register if you wish) 

Cheers,

 

where do I do this?  

[Steve Bullman]

You need to register as a limited company specifically?

[trigger_andy]

2 minutes ago, Steve Bullman said:

You need to register as a limited company specifically?

Im not sure really? Just that the finance company Davies Implements uses requires me to to be registered as a business to qualify for their rates.  I currently have any more details. 

 

Andy

[Mark J]

Go to Companies House, Set up a limited company. It's pretty straightforward. It may be worth engaging an accountant, if you don't already have one, as there are potential benefits to being a company director. Conversely, it is possible to stich yourself up, if you don't know what you're doing.

[Bunzena]

1 minute ago, Mark J said:

Go to Companies House, Set up a limited company. It's pretty straightforward. It may be worth engaging an accountant, if you don't already have one, as there are potential benefits to being a company director. Conversely, it is possible to stich yourself up, if you don't know what you're doing.

I'd echo Mark J.  It is easy to set up a company - but there are some pitfalls too.  Especially in terms of understanding your responsibilities for filing,  etc.

 

A good accountant will advise on your options - and will even set things up for you, if you want. 

 

It will cost a bit more - but it saves time and worry in the end.

 

Don't have or know a decent accountant?  Always go on recommendations.

[Mark J]

My ex-bitter half is still my accountant.

[Khriss]

The rules on yr accounts have changed quite a bit ( mine was a ' charity limited company by guarantee') hence no share holders etc. An they are more particular now. However it is still straightforward but I would engage an accountant to sign yr yearly returns off. K

[eggsarascal]

1 hour ago, Bunzena said:

I'd echo Mark J.  It is easy to set up a company - but there are some pitfalls too.  Especially in terms of understanding your responsibilities for filing,  etc.

 

A good accountant will advise on your options - and will even set things up for you, if you want. 

 

It will cost a bit more - but it saves time and worry in the end.

 

Don't have or know a decent accountant?  Always go on recommendations.

Yep recommendations every time. When I first started I asked every one man band that I know who they used, the same name cropped up time and again. I've used him from the beginning, he's saved me more than I've ever paid him.