Cost of register a Ltd

Discussion in 'Legal and HR' started by bull_y, Apr 14, 2011.

  1. bull_y

    bull_y
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    I am thinking to register a small company, but I donot have a lot of money now. Is there anybody knows the lowest cost for the first year?
     
  2. Fergal

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    Welcome to Business Advice Forum bull_y, thanks for joining and posting your business question. The answer will depend very much on what country you will be registering the limited company in. Can you please reply to let us know?
     
  3. bull_y

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    Hi Fergal, Thanks a lot for your reply. I would like to register a small company in West Midland, U.K..
     
  4. sigma

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  5. Fergal

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    I'm not based in the UK myself bull_y. But one way you could keep your costs down significantly is by registering as a sole trader. Would that be an option for you, or is there a specific reason why you want to register a company?
     
  6. bull_y

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    This is very helpful. Do I need to rent a place for the company and find an accountant for the first year?

    To be a sole trader is a very good point. I just want to reduce my risk in my bussiness. If registering a company will not cost me too much, that is probably O.K. for me.
    Thanks a lot for your reply
     
  7. Fergal

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    A lot will depend on the nature of your business, but there are many businesses that can be run from home, until the business reaches a certain size. As you say it is best to keep your initial costs as low as possible. An accountant can be helpful and a good one will save you more money than what they charge you in fees. Many of them will offer a first consultation free of charge, so it would certainly be worth having a chat with one to get a feel as to what they can offer to you.
     
  8. sigma

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    Yes, for the company ltd, you need to make proper account, you probably need to hire accountant to do the audit.
     

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