Advice on quotation to open Ltd Co & Tax registration.

[gregbritton 0]

Hi all,

 

Seeking for advice.

 

I have been in touch with a professional tax manager to get some help to open a Ltd Co in the UK. 

 

They have quoted me for their services as below:

- Formation of the company: 420 pounds

- HMRC Tax registration: 240 pounds

- Annual company accounts & Company tax return:

    1 - 2 properties: 1,440 pounds

    up to 6 properties: 2,640 pounds

 

I would like to know if these prices are reasonable or not? Thanks

[sheryldene dunne 4]

Hi Greg, hard to say if they look reasonable without having more info on type of property you will be buying, and what else is included in the price. If you have a browse around the forum, you will see that a few members have posted prices for other accountants -

 

You're welcome to contact us at tax@thepropertyhub.net and we can have a  chat about the service that Property Hub Tax offers.

 

Sheryldene 

[chas n gina 0]

Don't pay an accountant to set up a Limited Company. You can do it yourself on the Companies House website for £12, very easy as long as it is a simple set-up. It is free to sign up with HMRC.

[DavidH82 21]

On 12/28/2018 at 9:51 PM, chas n gina said:

Don't pay an accountant to set up a Limited Company. You can do it yourself on the Companies House website for £12, very easy as long as it is a simple set-up. It is free to sign up with HMRC.

I realise this thread is slightly old, but just thought I would add that yes you can simply set up a property Ltd co yourself if you do your research and are well informed about the correct SIC codes to use etc, but an accountant would be able to advise you whether this is even the best thing for you to do or not depending on your future plans. Also, in all but the most basic of companies, decisions over the share structure can have an impact on your options in the future over how to get paid from your company (e.g. using alphabet shares instead of a single share class so that owners can take differing dividends which take account of their personal tax circumstances, or if the owners have other business interests whether they should have a holding company structure etc). 

So yes, you can set up a company yourself very cheaply but whether you should or not very much depends on the individual circumstances. 

[j lewis 5]

Property Hub Tax are able to do all this for you, starting from just £69 per month. If yo wish to contact us email is tax@propertyhub.net for a personalised quote

 

[markravece 0]

Generally, the Trust Registration Service is an initiative of HMRC in the United Kingdom, which requires attention from all trustees. According to it, all the trusts in the UK which declare tax to HMRC need to register using this service. In the previous system for trusts, the trustees were required to register under paper-based forms, but now they can register online. you can read this blog https://theangeltrust.com/trust-registration-service/ For know more about tax registration., 

[EvolutionBlogger 72]

On 10/2/2018 at 10:08 AM, gregbritton said:

Hi all,

 

Seeking for advice.

 

I have been in touch with a professional tax manager to get some help to open a Ltd Co in the UK. 

 

They have quoted me for their services as below:

- Formation of the company: 420 pounds

- HMRC Tax registration: 240 pounds

- Annual company accounts & Company tax return:

    1 - 2 properties: 1,440 pounds

    up to 6 properties: 2,640 pounds

 

I would like to know if these prices are reasonable or not? Thanks

If your accountant is based in London, then it probably is reasonable. Setting up a company yourself costs £20, and is very easy to do. So you can save money there

The most important question is, how good is your accountant? A good accountant will repay the cost of their fees many times over 

 

[johnxademik 0]

Generally, the Trust Registration Service is an initiative of HMRC in the United Kingdom, Thanks this information really helpful.