What are the costs of setting up a limited company?

Last update: 18 August 2020 2-minute read
What are the costs of setting up a limited company?

The price you will pay when registering a limited company depends on how and where you form the company.

Companies House

The UK’s registrar of companies charge £12 for an online incorporation and £40 for a paper incorporation.

Company Formation Agents

Companies Made Simple prices start at £14.99 and go up to £99.99 (online incorporations). Other formation agent prices will vary, however, they will generally start around £14.99.

Accountants

Prices depend on the accountant but typically an accountant will charge more than Companies House or a Company Formation Agent.

The quoted prices are for a private limited company by shares, the most popular limited company structure in the UK

Why should I use a Company Formations Agent to register a limited company?

A Company Formation Agent can provide a number of services before, during and after the company setup. Services that Companies House can’t provide.

Here are a number of services that Companies Made Simple offer:

  • Assistance with choosing the right company structure for you and your business
  • Advice on picking an appropriate name for your company, including help with ‘same as’ and ‘reserved’ phrases - normally offered during the company name check process
  • An introduction to relevant partners such as banks, accountants, website builders, business loan providers and domain name registrars - often with a cash back reward that exceeds the cost of the company formation
  • Registered office service that enables you to use the company formation agent’s address as your company’s official address - protecting your own address from being listed on the public record
  • Help with post-incorporation filing obligations such as the confirmation statement (formerly known as the annual return) and annual accounts
  • Login portal for managing your company, including the facility to update company information and view important dates (such as due dates and and the accounting reference date)
  • Mail forwarding service that allows you to have all your company mail sent to a safe, secure and professional address

What other costs are associated with running a limited company?

The cost of running your new UK limited company is cheaper than you probably think. In fact, once you open a limited company, the only official ongoing cost is £13 for filing the confirmation statement (£40 if you’d rather do this via paper) on an annual basis. The other instances where you would need to pay Companies House are scenarios such as changing a company name (£8) or voluntarily striking off the company (£10).

The only other costs to consider are those overheads typically associated with running a business - regardless of the structure you choose - such as buying supplies and equipment and paying an accountant, wages, rent, tax etc.

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