Abdabz

I have decided its about time a became a millionaire.

Having tried for over ten years to achieve this result via the national lottery, it has become apparant I need a contingency plan...

So I have decided to set up my own company, exploiting the old and the vulnerable to knit giant scarves for a loaf of bread a day... Okay, that bits a fib!

I intend to set up my own business and want to buy an "off the shelf" Ltd company before I start doing anything...

Has anyone done this recently? Where is the cheapest yet most reliable place/website to do this through?

Once I have bought the Ltd company, declared it to companies house as not trading (as it wont be for a few months), designed my website, produced my plans, drawn up generic contracts etc I will be up and running - a couple of months from now. So Im savvy on everything except where to buy the Ltd company name from that wont "do me over"...

Any help welcomed

Scooby Soon!

First business tip, dont always go for cheapest

Fantom

download the forms from companies house yourself. It costs £20 to register a company. But you'll have to take them to a solicitors first to be sworn. That costs about £5 usually. It's kinda simple to do and I can email you an example memorandum & articles of association which all you'll have to do with is change the company name.

PM me if you need some help.

Steve
PS: However, if you're going to use an accountant to do your accounts etc then you may as well just buy the company from them and have less hassle. It's up to you. Otherwise I'll do your accounts for a small fee

Trout

iTrader: (1)

Don't know where you are but oop here in Yorkshire P20SPD sorted mine out.

Not mega cheap but it was set up properly and I chose my own company name so it was a new registration.

Good luck

PS Wht not trade for a few months - get stuck in now

Abdabz

The use of accountants depends on the nature of the contracts won... I may use an umbrella company for contracts I acquire through agency links, and will use my company for contracts I win myself locally, but I havent thought that through fully as yet...

I have contacts who can do my accounts should the need arise though - but thanks Fantom

What I really need is advice on where to go to buy an off the shelf company name, and then for now, not change the Ltd name, simply just set up as *** Ltd T/A Abdabz Love Lengths . Unless name changing is a doddle.

However I'm not actually selling love lengths , just expertise in Business Process Management and re-engineering and the likes to businesses in need of a bit of Abdabz magic

Abdabz

Thanks Rannoch, The Ltd company thing is a kind of back up right now...
I reckon I'll get via agencies into an umbrella company short term contracts at £300-£400 a day and if I do, my own company can wait...
If I dont I will start touting for business locally (into the SME market), but as I will be home based, and most of my skills are in my head, I dont need to invest in any equipment (except laptop, lightpro and some software), I can kick things off as and when...
First things first though, get a company and set things up in my free time... This time next year Rodders

GaryK

Abdabz

Well if you're gonna use an umbrella you wont even need to setup a limited company as you will simply be on PAYE + Dividends each week.

Gary

Hanley

Not exactly true, the umbrella company sets up the Ltd company on your behalf.

My umbrella company set up my Ltd company with myself as a director, I pay myself £105 per week which is subjec to NI which I think is about £1.69 and the rest you pay to yourself in company dividends, subject to 19% Corporation Tax.

Assuming of course you satisfy the rules associated with IR35

I'm no accountant but I think that's the basics of it.

KiwiGTI

Just use these people

http://www.sjdaccountancy.com/

Set it up online in minutes.

Abdabz

Excellent! Thanks guys, its becoming clearer...

This time next year Rodders....

Trout

iTrader: (1)

Why not set up a Ltd company? Most contractors I know use limited companies with themselves as directors. The source of work has no impact on whether there is merit in using a Ltd company or otherwise.

It may be my illusion but you are giving an impression that setting up a Ltd company is hard work in some way. I did the whole thing in 24 hours - and that was setting up a new company with a new name registered at Companies House. It took me two phone calls and a £150.

OK you can do it cheaper but I have a lot of flexibility and protection for a relatively low cost using someone who knew what they were doing.

I can see no advantage in using an 'off the shelf' company and you will be stuck with someone else's name. Indeed once you have transferred ownership you may have well as set up your own.

Also, given the subject matter expertise I can make a couple of comments. One is that if you are any good I would like a CV as I am associate of a top end agency with some excellent clients.

I would also respectfully suggest that if you have expertise in the areas you state and you are any good then you are massively underpricing yourself. I would have thought that £450 to £600 would be easily attainable - more if you have a modicum of programme management skills.

PM me if you want details about the agency.

Rannoch

Rabid

'Long firm' frauds are very difficult to pull off these days, although not impossible.

GaryK

Sorry what I meant was *he* wont have to set it up the umbrella outfit do it all for you but as posted it easy very easy to set one up, I used someone called sfs just did it all on the web took about 15 mins get all your forms electronically job done!

Gary