Setting up a company

Complete company formation and accounting services

What the service includes

  • Your limited company formed with Companies House in 24 hours
  • Certificate of Incorporation, Memorandum & Articles of Association, Share Certificates and Statutory books
  • Company secretarial services including provision of registered office, service of a company secretary and all communication with HMRC and Companies House
  • VAT, PAYE and Corporation Tax registration
  • Full payroll administration, monthly variable payroll and preparation of end-of-year PAYE submissions
  • Month-by-month IR35 compliance check if applicable
  • Client Liaison Manager and dedicated Accountant
  • Annual accounts, preparation of corporation tax returns, full paperwork for two dividends and preparation of form P11D
  • Provision of FreeAgent bookkeeping software
  • Free, unlimited telephone and email support

We can also help with the completion of your personal tax return at a small additional cost, as well as providing bookkeeping support.

What the service costs

There is a one-off company formation fee of £65 (+VAT).

We charge a basic annual fee of £1,200 (+VAT). This is payable in quarterly instalments of £300 (+VAT).  Dormant companies will be charged £75 (+ VAT) per quarter until commencement of trading.

Bespoke services, outside of our standard package, may incur an additional fee. Please click here for full details of our fee structure.

Company formation

Through our incorporation service we handle all the necessary formalities on your behalf. Completing our formation forms is a simple process. You can download them here and submit them electronically. All documents are scanned on receipt and held electronically on our secure servers.

As the process is done online, we’re usually able to send your Certificate of Incorporation and associated documentation to you on the same day we receive your forms.

All of our companies are registered with Companies House on the Proof scheme to further help prevent any fraudulent access to company records.

Company Secretarial Services

The principal director of Competex acts as company secretary for all our clients. We prepare minutes of all statutory meetings and file all relevant documents at Companies House, as part of our fixed-fee package. We also deal with any secretarial changes, such as change of director, registered office, shareholding and company cessations.

Your registered office is co-located at our office, where your statutory books are kept on computer. This means that all correspondence from Companies House and HM Revenue & Customs (HMRC) is sent to our office and is dealt with routinely by us.

Should you wish to appoint someone else as your company secretary, please notify us upon application.



Payroll

Our dedicated payroll team are available to every client to guide you through the process and give advice on salary levels, tax codes, and calculations.

Every organisation is unique, and our team works closely with you to truly understand the nature and needs of your business. We will calculate your salary for you, ensuring your tax and NI obligations are paid to HMRC on time and in the correct format under the Real Time Information (RTI) legislation. We will also keep you updated on any new legislation that might affect your payroll, such as the Employment Allowance and Auto Enrolment.

Being specialists in IR35, we also ensure you’re fully compliant with current IR35 legislation.

Accounts Preparation & Corporation Tax

As a client you are assigned a dedicated accountant to administer your accounts and to be your primary point of contact once you start your first assignment. Your accountant will give specific guidance on record-keeping and on what are and what are not considered to be allowable company expenses for Corporation Tax purposes.

As part of our package we provide you with FreeAgent bookkeeping software, a user-friendly web-based system that enables you to bring all your finances together in one place.

From your bookkeeping  records, we prepare and file your annual accounts with HMRC and Companies House.  We also prepare your Corporation Tax computation.

And, of course, our knowledgeable accounts team are always on hand to discuss any issues you may have.



VAT

When your annual taxable turnover reaches a certain annual level, you are obliged to register for VAT.

However you may also register on a voluntary basis even if your turnover is not that high. We will apply to HMRC for your company to be registered for VAT and also register you for online quarterly VAT submissions. We would normally register you on the VAT flat rate scheme (FRS) unless it is inappropriate for your circumstances, but our staff will advise you on the best option.

Our standard bookkeeping software can calculate the tax due each quarter, making it quick and easy to complete and file your VAT returns electronically.

Guidance and assistance is always available from our VAT specialists.

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