

GoLimited - UK Limited company formation £4.50, where's the catch? - Sword_Monkey
https://golimited.co/

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Sword_Monkey
Found the catch (though it's not really a catch, easily worth the discounted
price):

"Unlike other formation agents, GoLimited.co is not a money-making exercise –
we don’t offer any “premium” packages or add-ons, and only charge £4.50,
making your incorporation VAT-exempt. As more people incorporate our costs
will go down, and so will the price. Our service has proven so popular that
the price has already fallen from £14. We just want people to incorporate
quickly and easily – and if you decide you want to sign up with Crunch
afterwards, that’s great! If not, no sweat – we’re not going to pester you."

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kaolinite
I've been looking at these companies and would be interested in any advice as
to whether I should register a company myself or use such a service. I've
heard people say such things as "if you can't register a company yourself, you
won't be good at business" however I'm interested in developing the product,
not form-filling. Views?

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Sword_Monkey
There's two aspects of running a business in question here. One is the
bureaucracy of reporting your existence and finances to the Companies House
and HMRC, the other is managing yourself and any employees.

The former has become so complex and time consuming that I opt for using
services to do the job for me, whilst I concentrate on making a living. (or at
least I hope to when and if I decide to go Freelance 100% of the time) It's
much easier to have professional bureaucrats handle the bureaucracy than learn
how to do it myself.

That being said I'll never do something without a bit of research, and the
more transparent the service is the better. Communicating in simple terms
what's being done with my information is important.

~~~
tomgallard
This is great advice. You should understand what's going on, what your company
needs to file and to who. However, get your accountant to do it for you,
things such as Corporation Tax / VAT returns are complicated, and you will get
no sympathy from HMRC if you screw up.

Your accountant will also be able to advise you on company structure, and most
importantly some of the significant tax savings you can make when
incorporating:

[http://www.rossmartin.co.uk/index.php/incorporation/607-good...](http://www.rossmartin.co.uk/index.php/incorporation/607-goodwill-
a-incorproaton-tax-issues)

You can basically sell any assets (including 'goodwill' which is the valuation
of the business over and above its assets) from the sole trader to the Ltd Co.

This is a great way of removing money from the company at 10% (CGT
Entrepreneur's rate) rather than your income tax rate)

