Frequently Asked Questions
What happens if I make a mistake?
Don’t worry! All mistakes can be fixed after your company is formed, and most of the time it will not cost you anything to rectify matters.
To reduce the risk of errors, we recommend you purchase the pre-submission review service - available at a cost of £4.99 during the ordering process. This will ensure one of our experts reviews your company application and corrects any errors before it is submitted to Companies House.
Can I set up a dormant company?
A dormant company is not a type of company that can be registered at Companies House; however, you can make your new company dormant simply by informing HMRC that you have not started trading, and have no plans to do so in the immediate future.
Therefore, you would like them to classify your company as dormant. This can be done after you receive your company’s UTR (unique tax reference) number, which is sent to the registered office around two to three weeks after the date of company incorporation.
If I buy a service address, can I use it for more than one company?
No. If you purchase our service address, one director will be able to use it for one company only. Should you wish to use our address as your service address for another company, a separate purchase is required.
Can I buy a digital package now and upgrade later?
Yes, you can choose a digital package now, and this will provide you with a limited company. If, at a later date, you wish to buy any additional items that are included in more expensive packages, they can be purchased separately from your customer area. However, they will not be available at the discounted rates of the packages.
How long will it take to complete the whole process?
It will take approximately 5 to 10 minutes to complete our online company application form. We will then send the application to Companies House, which will usually take around 3 to 6 working hours to approve a company - although this time period is dependent on Companies House workload, and sometimes it can take longer.
VAT registration usually takes up to 30 days, but can take longer in some instances.
Do I need to sign anything?
Our company formation service is 100% online, and there is no need to supply any documentation or signatures. Just follow our simple 4 step company set up process, and your new company will usually be set up within 3 to 6 working hours (subject to Companies House workload).
Don't I need a solicitor or accountant to do this?
No. You can very easily form your limited company or LLP from as little as £12.99 +VAT by using our website, saving you £200 to £300 in solicitor or accountancy fees.
What information do I need to have at hand to form a company?
You will need a company name, a registered office address, and the details of the director and shareholder (which can be the same person) - name, date of birth, occupation, nationality and home address. You will also need a SIC code (business activity code) - but don't worry, we provide a list of codes for you to choose from.
See also: Information Required to Set Up a Company.
When do I get my authentication code?
If you register your company with 1st Formations, your company's authentication code and company documents will be sent to you by email as soon as your application is approved by Companies House. The authentication code will also be available to view in your online customer area on our website.
How do I keep my home address private ?
All new registered companies must supply 2 official addresses that are placed on the public record - a registered office address and a director's service address. Most people do not want to use their home address, as they would like to maintain their privacy.
The best way to do this is by choosing one of our packages that includes a registered office and service address at a discounted rate, for example: The Privacy, Professional, Prestige or All Inclusive.
Which type of company is best for me?
If you are forming a company with the objective of making a profit, then the standard company type for most commercial business activities is a private company limited by shares (or, in short, a 'limited' or 'ltd' company). You will find our range of limited company packages above.
For those wishing to form a non-profit company, co-operative, association, membership organisation, etc., the company type you should go for is a private company limited by guarantee. Please have a look at our Limited by Guarantee Package for further information.
1st Formations also provides limited liability partnership (LLP) company registration, which is similar to a traditional partnership, but enjoys the same limited liability as a limited company. This type of company is popular with professionals such as solicitors and accountants.
How much does it cost, and what do I receive?
You can set up a limited company that is ready to trade, from as little as £12.99 plus VAT, by choosing our Digital Package. This cost includes the Companies House filing fee, so there is nothing else to pay.
As soon as your new company is registered by Companies House (usually within 3 to 6 working hours), you will receive an email containing your certificate of incorporation, a memorandum and articles of association and a share certificate for each shareholder.
You can, of course, choose one of our more comprehensive packages - which will provide many useful services. For example, our Prestige Package provides high quality printed company documents delivered by post, all 3 address services that will protect your privacy and provide an excellent corporate image, VAT registration and much more.
