To set up the fundamentals of the business, and allocate shareholders, it can cost £12 to register your company name at Company House. This is for a 24 hours service online.
If you want to submit an application of registration by paper, this can cost around £40 or £100 for same-day incorporation. However, at the time of writing these services were not available due to COVID-19.
Should I use an Accountant to Set Up a Company?
Many accountant companies offer this service. However, they will simply perform the same actions and charge you their extra fee.
This is useful, however, if you wish to engage an accountant at the start of setting up your business as they will hold all of the Company House access codes to submit your accounts and statements.
What Else Do I Need to Set Up a Company?
In addition to the basic setting up, you will need of course need to buy stock and equipment. You will also need to advertise your business and build a website. There is also social media to consider, for your business to become a success.
Setting Up a Company in a Regulated Industry
If you wish to set up a business in a regulated industry, you will also need to ensure you are registered with the relevant accreditation body and fully compliant with their requirements. This must be done before you start trading.
You can find information on many regulation bodies on this website.
Please read our in-depth articles below for more information: