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Setting a Ltd Company

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  • # 117903

Hi - having recently qualified & I am now looking into setting-up my own business

I am considering doing this via a Ltd Company so a couple of questions:

1) Is this the best structure to go with from the start - appreciate this is all based on opinion!

2) Should I use the ICB Partner Jordans to do this and pay £55 +VAT, or is it as simple as going through the gov.uk website, paying the £12 registration fee

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  • 13 posts
  • # 117904

Woodgy71 said:

Hi - having recently qualified & I am now looking into setting-up my own business

I am considering doing this via a Ltd Company so a couple of questions:

1) Is this the best structure to go with from the start - appreciate this is all based on opinion!

2) Should I use the ICB Partner Jordans to do this and pay £55 +VAT, or is it as simple as going through the gov.uk website, paying the £12 registration fee


 

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  • # 117906

Congrats on qualifying.

 

As you say - all opinion. IMHO, it depends on how much you know about shares. Just you 100 Ordinary shares @ £1 - then £12 at Co house. More complicated - different share classes/voting rights - get some advice - accountants can be really good at that sort of thing.

 

Best structure - again opinion. IMHO - I've been Ltd for 15 years. If I were doing it again I'd probably start sole trader - see how things develop. Might want a business partner in future? - easy to start a partnership - bit more of a pain if Ltd already in place.

What sort of clients are you targeting - some feel more confident if there is a vat reg & Ltd in place and they can check you out at companies house. oooh - clients/competitiors can see how well i'm doing!!

Borrowing dosh -bit easier with Ltd in place.

Customer profile -  pulse & cheque book? - Then sole trader

All opinion - all depends and there's probably more involved  than outlined above.

 

Toodle Pip

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  • # 117907

AweltedSoul said:

“Many thanks

Congrats on qualifying.

 

As you say - all opinion. IMHO, it depends on how much you know about shares. Just you 100 Ordinary shares @ £1 - then £12 at Co house. More complicated - different share classes/voting rights - get some advice - accountants can be really good at that sort of thing.

 

Best structure - again opinion. IMHO - I've been Ltd for 15 years. If I were doing it again I'd probably start sole trader - see how things develop. Might want a business partner in future? - easy to start a partnership - bit more of a pain if Ltd already in place.

What sort of clients are you targeting - some feel more confident if there is a vat reg & Ltd in place and they can check you out at companies house. oooh - clients/competitiors can see how well i'm doing!!

Borrowing dosh -bit easier with Ltd in place.

Customer profile -  pulse & cheque book? - Then sole trader

All opinion - all depends and there's probably more involved  than outlined above.

 

Toodle Pip


 

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