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​Going Limited - what is the time scale for the process?

Tuesday 16th June 2015

Going Limited - what is the time scale for the process?

Step 1: We set up your Limited Company by filing the incorporation application with Companies House (we do this for free).

It takes 1 day for your company to be incorporated at Companies House and as soon as you receive your incorporation pack from Companies House you can start trading.

Step 2: You set-up a Limited Company bank account with your favourite bank (we can advise you on how our clients have found each of the high street banks so you stay away from the bad ones).

This will generally take 1 to 2 weeks for the bank account to be fully set-up but that does not stop you from trading, you just can't be paid by your clients until your account is opened.

Step 3: We get all of the different HMRC registration forms filled out and sent off to the different departments at HMRC. Your company will be registered for Corporation tax, a PAYE payroll is set-up, VAT registration is in place if this is tax efficient for your company (we will advise) and you are registered for a personal tax return.

Step 4: You are all done with the set-up phase, now it's time to get freelance contracting (if you haven't started already - remember you can begin as soon as the company is incorporated which only takes 1 day).

Any questions do give us a call on 0845 834 0269 or email Christopher at chris@123contracting.co.uk

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