startup-costs, united-kingdomI’m am based in the UK and I’m looking to start a limited company.
I’ve been looking at the cost of registering, but it seems very cheap.
It costs £12 and can be paid by debit or credit card or Paypal account. Your company is usually registered within 24 hours. https://www.gov.uk/limited-company-formation/register-your-company
It just seems a lot cheaper than other countries.
The tiny fee rings correct, it’s notoriously cheap to start a business in the UK.
Pro tip, though: go through a company formation service if you can afford it. It’ll cost you a little bit more (you can find some that charge under 100 quids), but they’ll file the paperwork for you, cross t’s and dot i’s, and connect you with an accountant if they don’t have one in-house.
That last bit is the important one in practice: while you can deal with HMRC and Companies House yourself, it’s a bit tedious and mind numbing to not forget year after year and keep up with changing obligations. You definitely want an accountant for that. (Plus, they’ll interact with HMRC for you if your taxman ever enquires about your accounts.)
In most states in the US, it is $125 to start a LLC. If you are a veteran, the fee is waived upon submission of your DD214 or active service card.
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