How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
13113900
Type Your Law Question Here...
Alex J. is online now

Hi there, I want to set up my company in the uk (LLC) but

Resolved Question:

Hi there,
I want to set up my company in the uk (LLC) but unsure of the business model yet. Reason why I want to do this is to have a company name and business card and for the legal structure to be ready when I want to start trading/employing/selling shares etc. MY questions are: 1) where can I do it online 2)how do I check that the name I'm gonna chose doesn't exist 3) is there any legal/reporting liability I should be aware of if I set it up and haven't started trading yet?
Thx
Submitted: 4 years ago.
Category: Law
Expert:  Alex J. replied 4 years ago.
Hi,

Thank you for your question.

Do you want to set up a limited company?

Kind regards

AJ
Customer: replied 4 years ago.

yes indeed

Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

To answer your questions:

(a)In order to electronically form a company you need to buy special software. It is not really worth it, you are better off either filling in the form your self or asking an accountant or solicitor to form it for your. You will almost certainly need an accountant in England to administer the company if you are based abroad. There is a convenient webfiling service that allows you to administer the company when it is formed. The cost of formation to do it yourself is only the Fee of £100. If you get a professional to do it, it will be £300-£500. Note you will need a registered office in England to form it.
http://www.companieshouse.gov.uk/forms/generalForms/IN01_application_to_register_a_company.pdf - this is the incorporation form.

(b) to check the name is XXXXX XXXXX can search the Registrar of Companies - http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo

(c) If you set up the company and dont trade all you need to do its file an Annual Return each year and accounts (if the company does not own anything or doesnt trade these can be in a standardised). The fee for an Annual Return is £14.00 on line and accounts are £40. The cost of these obviously will be more if you get a professional (i.e and accountant to do it). If you want to employ an accountant to do all this administration for you it will cost anywhere from £300 per year upwards depending on if the company trades or not. The figure will be higher income and the complex the accounts are.

Kind regards

AJ
Alex J. and 3 other Law Specialists are ready to help you