What is involved in the company formation process?

There are certain tasks to be completed when you first incorporate your company, and others when you are about to start working through your company.

• Company incorporation with Companies House
• Corporation Tax registration with HMRC
• Value Added Tax (VAT) registration with HMRC. This cannot be done until you are about to start your first assignment, so it is important that you notify us when this happens
• PAYE registration with HMRC. This cannot be done until you are about to pay yourself

You:

• Setting up the company bank account
• Arranging professional indemnity insurance
• Signing the contract with your provider or client
• Opting-out of the Employment Agency Regulations. This is relevant only if you are working through an agency, and we confirm that it is acceptable for you to opt out.

The infographic below gives a step-by-step guide to the company formation process with Competex.