Company Formation Agency

Forming a limited company or a limited liability partnership (LLP) is relatively straightforward, but it’s easy to make errors in the registration process that cause delays. An accountant can act as your agent to register your businesses with Companies House and thereafter provide invaluable advisory and accounting services to help your UK company meet its statutory responsibilities head-on.

Welcome to Daniel Wolfson, company formation services

A company formation agent, Daniel Wolfson’s digital company formation package is designed to assist UK-based and overseas businesses in all industry sectors to register a limited company online or re-register a dormant company. We have advised existing sole traders and partnerships that are considering incorporation, helping many with their company incorporation application and the registration process. Many use our London-registered office as their UK-registered office address as well as our company secretarial services to update their company details and help them run their business compliantly.

Advantages of a UK limited company include protection of your personal assets, greater scope for tax planning, potentially paying less in personal (income) tax and national insurance contributions (NICs), and an added likelihood of successfully attracting contract tenders, loans, and investors.

Types of businesses we can help

Daniel Wolfson specialises in limited company formation packages and accounting for businesses of all legal entities and sizes and across a multitude of industries – from retail, IT, construction, finance, the arts, hospitality, and healthcare. We provide support to businesses with dormant company accounts, registered UK companies with overseas interests, and non-UK residents setting up a UK company.

While we are a digital company, our UK limited company formation services assign every new business client a named accountant solely focused on the mechanics of their client’s business and personal finances. Our company registration service will look after everything from advising on limited company structures to the Companies House filing fee and company formation documents, and from then on provide support with your accounts and yearly confirmation statement (annual return) while meeting the highest standards of compliance, no matter the industry sector, business type or entity, turnover, or size.

Sole trader to limited company

Many sole traders and contractors choose to register a company to benefit from the protection it offers, take advantage of the potential tax savings, and for reasons of legacy planning and enhanced corporate credibility.

Having incorporated your former sole trader business, you must notify HMRC by filing a final self-assessment tax return with the date trading ceased. If the sole trader business was VAT registered, again, inform HMRC about the change in your business structure (and new service address if applicable) regarding VAT.

You are legally required to transfer the liabilities (e.g., business loans, leases, or supplier contracts) and assets (e.g., equipment, vehicles, stock, intellectual property, goodwill) of your sole trader business once you register a company. Both transfer agreements must be filed with your company documents.

UK limited company

The benefits of incorporation in the UK include limited liability (you are personally liable for debt up to your initial investment). As a sole trader, you and your company are one legal entity, making you liable for any debt.

A limited company must have at least one director and will pay corporation tax on its profits (at 25% or 19% “small profits rate”), which tends to be lower than personal income tax rates. Many limited-company directors pay themselves a salary below the personal allowance threshold (£12,570) and then “top up” with dividends on which no NICs are due.

Daniel Wolfson would be pleased to advise and act as your company formation agent. The company formation application process is relatively straightforward but careful attention to detail is essential.

Partnerships

The process of registering an LLP not dissimilar to forming a company limited by shares or guarantee.
The main difference is how tax on the partnership’s profits is paid. The partners are treated as self-employed for tax purposes, with the LLP filing a partnership tax return each year, detailing each partner’s income and related information. Each partner then submits a personal tax return by 31 January each year and pays income tax and national insurance on their share of the income.

The process of registering an LLP is similar to forming a company limited by shares or guarantee. The main difference is how tax on the partnership’s profits is handled. The partners are treated as self-employed for tax purposes, with the LLP filing a partnership tax return each year, detailing each partner’s income and related information. Each partner then submits a personal tax return by 31 January each year and pays income tax and national insurance on their share of the income. As experienced accountants for partnerships, we can assist you in navigating this process, ensuring all tax obligations are met and providing valuable advice on partnership structures and profit distribution.

Can you help me choose the right business structure?

Daniel Wolfson’s company formation team can explain the benefits of each business entity and help you choose the right company structure. Most UK businesses are limited by shares, which means that the company is owned by its shareholders and makes profits, whereas limited by guarantee companies tend to be not-for-profit organisations. Law practices, accountancy firms, and healthcare providers often opt for an LLP.

What documents are required to form a company in the UK?

• Application (form IN01 or form LLIN01)
• Preferred company name;
• Business or partnership category;
• Preferred company type: e.g. private company limited by shares or a guaranteed limited company, community interest company, LLP);
• Place of business or partnership; company’s registered office address
• Personal and company (or partnership) details;
• Details of directors (or partners); details of people with significant control (PSC); service address and residential addresses;
• Shareholders and allocation of shares;
• Memorandum and articles of association;
• UK or London registered office address (ROA);
• Registered email address;
• Details of company secretary;
• Licence to trade if applicable; see gov.uk licence finder
• An LLP agreement (if incorporating a partnership).

What happens after my company is formed?

After your application has been submitted on the Companies House website, providing there are no discrepancies, Companies House will issue a Certificate of Incorporation, which means your new company can start trading immediately. You will need to arrange your first board meeting of your new company directors and company officer, and update your letterhead, website, and business bank account. You must ensure you are running your company in line with UK business law.

Build your business with Daniel Wolfson today

There are numerous formalities to navigate when forming a company and once it’s trading. Daniel Wolfson can assist you throughout your journey. Our registered office service includes a prestigious central London address, and our company secretarial services can assist with the administration of your company, such as updating the company documents, filing your confirmation statement, and settling the annual Companies House fee.

Our business accounting and advisory services will ensure you meet your statutory responsibilities and fully benefit from lower taxes, reliefs, and allowances, as well as funding, investment, or grant opportunities. We’ll ensure 100% compliance and help you achieve your goals for your personal and business finances.

Frequently asked questions about our company formation services