Originally written by Legal Zoom on Small Business
At LegalZoom, our aim to make the process of starting a limited company as easy as possible. Our formation packages to start your company range from the bare basics to everything you could possibly need. The online form takes roughly 20 minutes to complete, but you’re not alone while you’re doing it. Our support team can be on hand to help during office hours, 9am to 5:30pm Monday-Friday, either by phone or email to make your company formation as straightforward for you as possible.
Our Peace Of Mind package, priced at £99.99 + VAT, includes a whole range of services we have to offer, plus one-year free subscription to our Registered Agent service, saving you money to invest in your business. This package is for anyone who wants to ensure everything is covered.
>See also: The GOAT (greatest of all time) guide on how to start a home business
The Privacy package includes all but the confirmation statement service. It does include our RA service free of charge for three months and anti-fraud protection. At £59.99 + VAT, this package is for people who don’t want to have to worry about breach of privacy and get trading quickly.
With The Extras Package you get high-quality, watermarked documents, plus the full suite of business records. You also get fraud protection added free of charge for £19.99 + VAT.
The No Frills Package is perfect if you want to handle things like tax later, or just reserve your company name. We pay the Companies House fee, saving you £12 and priced at just £9.99.
We know it can be quite overwhelming looking at all the moving parts and terminology when you start your company, so let’s take a minute to go through what everything is so you can decide which formation package is best for you:
Certificate of Incorporation
Issued on the date of when your company was incorporated – kind of like a birth certificate
This is available in the following packages: No Frills, The Extras, Privacy, Peace of Mind
>See also: Escaping the nine to five: can I turn my passion into a business?
Memorandum and Articles of Association
Your company’s legal rule book. It says how things work when it comes to liability, directors, shares and decision-making.
This is available in the following packages: No Frills, The Extras, Privacy, Peace of Mind
Share certificates
Proves you own the business. These will be needed when opening a business bank account.
This is available in the following packages: No Frills, The Extras, Privacy, Peace of Mind
>See also: 7 start-up mistakes and how to avoid them
Business bank account
Legally you must have a separate business bank account for when you form a limited company. This keeps your personal finances separate from your business finances.
This is available in the following packages: No Frills, The Extras, Privacy, Peace of Mind
Printed Certificate of Incorporation
These are documents that are printed proof that you’re a legal company.
This is available in the following packages: The Extras, Privacy, Peace of Mind
Fraud protection
This prevents would be fraudsters taking ownership of your business by removing the option to make changes to your business via paper forms. Should you need to make changes to your company, you can only use your unique authentication code (that you receive upon your company’s incorporation).
This is available in the following packages: The Extras, Privacy, Peace of Mind
Company register and minutes
A company register is essentially a document that keeps all your company information in one folder. Minutes are a record of proceedings and decisions are made in a general meeting, of which some may need to be reported to Companies House.
This is available in the following packages: The Extras, Privacy, Peace of Mind
Online Person of Significant Control register
This is an online register which keeps track of all individuals or legal entities that own more than 25 per cent of shares, more than 25 per cent of voting rights in the company or have the right to appoint or remove the majority of the board of directors.
This is available in the following packages: The Extras, Privacy, Peace of Mind
Registered Agent Service
When you start your company, you’ll need an official registered business address. It will then be listed by Companies House, for anyone to see. If you run your business from home, this could become a privacy issue. A Registered Agent acts as the middleman – all your business post, be it letters from the government or from customers, is sent to us. We’ll sift out the junk mail, then send everything else to an address of your choice.
This is available in the following packages: Privacy (3 months free), Peace of Mind (1 year Free)
Confirmation statements
Your confirmation statement keeps Companies House up to date with what’s what and who’s who. It is a legal requirement for every company, including dormant and non-trading companies to file a confirmation at least once year, even if there are no changes made, you still need to file a confirmation statement. We will take care of this for you.
This is available in the following packages: Peace of Mind
Hopefully now you have a clear idea of what is included our formation packages and that we are here to help you and your new company at every stage, be it forming the company to your confirmation statements – we’ve got you covered.
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