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MatthewM1117
MatthewM1117, Solicitor
Category: Property Law
Satisfied Customers: 1495
Experience:  Expert
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I am writing to request a quote to set up a company to

Customer Question

I am writing to request a quote to set up a company to manage a freehold. 10 yrs+, myself and a fellow leaseholder collectively enfranchised, purchasing the freehold from LB Islington. We had both previously exercised our right to buy. The property in question is a converted house with 3 flats. The third flat is leased back to the council in perpetuity. At the time of purchasing the freehold we did set up a company but dissolved it after a couple of years because of the hassle of filing accounts etc. As a consequence of this decision, we have subsequently been unable to bill LB Islington for their share of communal costs. They insist on dealing with a company. We would therefore like to set up a new company and would like a quote for this service. We would also like a quote for providing the necessary services to enable us to bill back LB Islington for their contribution of communal costs.
JA: Where are you? It matters because laws vary by location.
Customer: North London
JA: What steps have you taken so far?
Customer: None I need some guidance first
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No
Submitted: 5 days ago.
Category: Property Law
Customer: replied 5 days ago.
I am looking for guidance as to what type of company to set up, i.e. standard LTD or some other type, as well as a note of the likely costs to set it up and legal costs etc
Expert:  Virtual-mod replied 4 days ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Customer: replied 4 days ago.
Please continue
Customer: replied 4 days ago.
Perhaps it may help if I rephrase the question:
Customer: replied 4 days ago.
I am told that I should set up a company to manage my freehold. 10 Years ago both myself and a fellow leaseholder collectively enfranchised, purchasing the freehold from LB Islington. We had both previously exercised our right to buy. The property in question is a converted house with 3 flats. The third flat is leased back to the council in perpetuity. At the time of purchasing the freehold we did set up a company but dissolved it after a couple of years because of the hassle of filing accounts etc. As a consequence of this decision, we have subsequently been unable to bill LB Islington for their share of communal costs. They insist on dealing with a company. Is this correct and what type of company should we set up, a standard LTD or some other type? .
Customer: replied 4 days ago.
I am seeking guidance on the best route to take in my situation. Hopefully rephrasing my question will make it more welcome to your panel.
Customer: replied 4 days ago.
How much longer do you anicipate?
Expert:  MatthewM1117 replied 3 days ago.
Good morning thank you for contacting Just Answer my name is***** am a practising solicitor with several years experience and I will be assisting you today. Please note that this is a Q and A platform and no lawyer client relationship is created. The standard format would be to set up a limited company with each freeholder obtaining one share in the company. It costs £12 to set up a company using the following link:

https://www.gov.uk/limited-company-formation/register-your-company


Expert:  MatthewM1117 replied 3 days ago.

Do you have any follow up questions?

Customer: replied 3 days ago.
No, many thanks.
Expert:  MatthewM1117 replied 3 days ago.

Glad to be off assistance, we wish you all the best going forwards.