You’ve decided to become your own boss and work through a private limited company but where do you start?
Firstly, you’re going to need to form a limited company.
Here comes the hard part - choosing your company name! You can pick any name you like provided that it isn’t already being used and isn’t illegal. You can check the availability of your company name at: www.companieshouse.gov.uk/info
As the limited company is a separate entity from you, it will require a business account. The amount held in the business account will belong to the business, and only become yours once it has been paid into your personal account.
We have a partnership with Metro Bank and Cashplus who can offer a business bank account to ensure that you experience a streamlined, hassle free application process. To find out more, see our Business Accounts page or contact us on 0330 024 0406.
If you decide to set up a business account with your personal bankers instead, the Gorilla Accounting team will happily assist in providing any information required.
Newly formed companies may need to register for VAT. Many contractors have heard of VAT but don’t really understand the benefits it can bring to their own limited company. We have prepared a VAT guide to help make things clearer for all of our clients.
Gorilla Accounting offer a Company Formation service including Share Certificates, Statutory Books, VAT Registration and a Business Bank Account, all for just £50 + VAT. If you are ready to form your limited company, click here to complete the Formation Questionnaire.
We appreciate that moving into contracting can be daunting. For a no-obligation conversation to discuss your options, please don’t hesitate to contact us.