4 ms·
Ask HN: Any suggestions for incorporating in the UK?
Could you recommend a service for company formation in the UK? Could you recommend a company offering a registered office service in the UK? Do you have any suggestions regarding hiring an accountant for a web application UK startup? The company will be incorporated in the UK, but I am not a UK resident and the development will also be done offshore.
- jcr 15y agoIf you intend to seek investment (seed, angel, vc, ...), either through Y Combinator or otherwise, you should read the following: http://ycombinator.com/atyc.html http://ycombinator.com/atyc.html Getting your incorporation wrong can be a deal killer.
- ig1 15y agoThe UK doesn't have a huge mess of incorporation law like the US. For pretty much any startup the correct company type is a limited company.
- cynusx 15y agoI use companiesmadesimple.com They handle registered office service as well. I'm in a similar situation (just incorporated). The next step should be to open a bank account or make it dormant. I haven't figured out this step though, mind to keep in touch?
- kandu 15y agocompaniesmadesimple.com was one of the options I was looking into. Let's keep in touch.
- cynusx 15y agoI don't have your email address :) (mine is in my profile) I've figured out that you can get a bank account as non-resident as long as you have a credit card/bank statement and a valid ID. You still need to go to the UK though.
- PawelDecowski 15y agoI've used http://www.companyformations247.co.uk/ http://www.companyformations247.co.uk/ to open the company. They offer cashback if you later open a business bank account with Barclays, so the company formation is actually free (you can even get back ~£30 back on top if you pick the cheapest formation plan). As for accountants I've been using http://www.crunch.co.uk/ http://www.crunch.co.uk/ For £70 a month they give you: * web-based accounting software * dedicated account manager * dedicated accountant * sort out your taxes at end of tax year * registered office service * extras like help you with personal taxes for extra fee Highly recommend both companies.
- ig1 15y agoI've used Crunch before and while I'm happy with their service, they don't have an api so you'll need to record sales manually. Depending on the nature and pricing of your webapp this might not be do-able.
- PawelDecowski 15y agoThey recently added a bank reconciliation feature. You can upload a CSV statement from your bank which, sort of, automates it (still needs some manual input). Unfortunately CSV statements from my bank (Barclays) aren't compatible with their importer. Hopefully they'll add support for more statement formats.
- jwh 15y agoWhy spend money when you don't have to? Go direct to the relevant UK authority at http://www.companieshouse.gov.uk/ http://www.companieshouse.gov.uk/, read the guidance notes carefully and incorporate away. Pay special attention to your articles of association as they're akin to a constitution for your business. Also, you'll need a registered office in the UK that documents can be delivered to. Experience: UK resident who set his own Limited company up
- jdietrich 15y agoTo be honest with you it's a doddle and you can't really go wrong. There's only one relevant kind of company - a private limited company. Forming the company takes about ten minutes and the formation should be confirmed by Companies House within four hours. You don't necessarily need an accountant. You can do all of your tax returns online and you can use your annual CT600 tax return as your return for Companies House. The annual return is just a few pages and can be completed by anyone who can read the explanatory notes. Hiring staff is only marginally more complex and HMRC provide a suite of software to help you manage payroll, income tax and national insurance. The only real gotcha is remembering to register for VAT if your sales within the EU exceed £73,000 in any 12-month period - at that point you may wish to consult an accountant to get your VAT accounting straight, as mistakes with VAT can get expensive quickly. As a web app startup your tax affairs are likely to be as simple as they get and I'd suggest contacting your local HMRC office for advice - I think you'll be pleasantly surprised at how helpful they are and how straightforward tax is for small companies. They run regular training days at local tax offices for new companies and employers which are well worth attending even if you plan on using an accountant.
- ig1 15y agoAccountants do other things beyond filing paperwork for example they can tell you from experience what HMRC allows to filed in terms of expenses, tax optimizations such as using Flat Rate VAT, etc. They can also provide references which can expedite things like opening bank accounts or getting travel visas. IMO Unless you really can't afford it, paying the £1000/year for an accountant so you have one less set of things to worry about as a startup founder is really worth it.
- x03 15y agoSince April 6th you've been able to incorporate directly online with Companies House at: https://ewf.companieshouse.gov.uk/9e98c6d412c60b928876bc14d4bbee2f/runpage?page=welcome https://ewf.companieshouse.gov.uk/9e98c6d412c60b928876bc14d4...
- samwillis 15y agoThat link doesn't work, this the right right one: https://ewf.companieshouse.gov.uk/govlink?xgovk3w=bl1000&xgovf0p=|xgovs9k=coho|xgovr3h=winc|xgovc8h=1000|xgovk3w=bl1000|&xgovd2v=en&xgovj6d=452734a110d6d1a1d0893be4ee96cab3ffde1a4c https://ewf.companieshouse.gov.uk/govlink?xgovk3w=bl1000&...
- kandu 15y agoThank you very much for the answers.