Many UK business owners prefer to use the services of a company formation agent such as Uniwide Formations to make the process of company formation both quick and easy. Rather than “going it alone” you can rely on a trusted company formation agent to guide and support you throughout your business journey.
Although you could, of course, form a new company directly through the registrar of companies, this cannot be done for all business types and the process can be complicated and time-consuming. In this article we will look at the role of company formation agents, the benefits of using one and why it does not always make sense to go directly to Companies House.
Main Points: Benefits of Using a Company Formation Agent
- Simplify Company Formation: A company formation agent makes setting up your business quick and easy, handling the process smoothly so you can focus on starting your own business.
- Save Time and Money: Agents reduce the time and costs involved by efficiently managing all the necessary paperwork and filings on your behalf.
- Expert Guidance and Error-Free Submissions: With professional expertise, agents ensure all forms are correctly completed, minimising the risk of mistakes or rejections.
- Comprehensive Services: They offer additional support like providing a registered office address, handling mandatory filings, and assisting with VAT and PAYE registration.
- Access to Professional Support: Company formation agents can introduce you to banks and accountants, offering ongoing help as your business grows.
- Tailored Solutions for Your Needs: They provide different packages and services that can be customised to suit your specific business requirements.
- Faster Incorporation with Same-Day Service: Benefit from fast-track services to have your company formed on the same day, giving you a head start in the market.
What is a company formation agent?
A company formation agent, such as Uniwide Formations, is an independent professional business service that assists UK-based and international entrepreneurs in forming and running a company in the UK. The main service offered by company formation agents is the formation (also known as registration or incorporation) of new companies in the UK.
Uniwide Formations provides a range of additional business and secretarial services, too, which make running a company in the UK as easy as possible. Company formation agents therefore work with companies not just at the time of their incorporation but also throughout their lifespan.
What services do company formation agents provide?
Company formation agents do far more than just register limited companies with Companies House. They offer also many other important services, such as providing a registered office address, assisting with mandatory filings, dealing with VAT and PAYE registration and providing introductions to banks and accountants.
The range of services provided can vary between company formation agencies. At Uniwide we provide the following comprehensive services:
Company formation
Uniwide Formations is a fully authorised company formation agent which is recognised by Companies House, the UK’s registrar of companies. Our software is securely integrated with Companies House, so you can trust us to register your company quickly and safely. We can handle your company formation needs, regardless of wherever in the world you may be.
If you are a new customer then we will simply ask for a few details about your company by e-mail. If you are an existing customer then we will send you a current company summary, which you will just need to confirm as correct or notify us of any changes. This will save you time and money if you decide to add more companies to your business portfolio.
Company address services
We provide a number of company address services, including:
- Registered Office address – with mail forwarding
- Director’s Service (i.e. Correspondence) address – with mail forwarding
- Business Postal address – with mail forwarding
Our headquarters are based in Kensington, London, providing you with a prestigious address for your business correspondence.
Other business services
We also offer a wide range of business and company secretarial services, such as:
- A secure company administration portal
- Company name-checking service
- Registration of persons with significant control (PSCs)
- Filing confirmation statements
- VAT registration
- PAYE registration
- Company dissolution
- Company name change
- Dormant company accounts
- Director appointment and resignation
- Certificates of good standing
- Transfer and issue of shares
- Referral to UK banks and
- Introduction to a UK accountant
What are the benefits of using a company formation agent?
There are several key benefits to using a company formation agent in the UK, as follows:
1. Streamlined process
One of the main reasons for using a company formation agent is the ease of company formation. Although one could apply directly to Companies House, their process and form can be complicated and time-consuming, especially for those who are unfamiliar with the legal requirements and jargon. A company formation agency provides a simplified, jargon-free online form and expert assistance throughout the process, ensuring that all necessary details are filled-in correctly.
2. Time and cost savings
Using a company formation agent can save you significant time and reduce your costs. The process of manually completing and submitting forms to Companies House can be lengthy and confusing. Company formation agents can expedite this process, often completing it within 24 hours. Furthermore, their fees are generally lower than those charged by external professionals in law and/or accountancy.
3. Error-Free submissions
A company formation agent will ensure that your company formation application is error-free. Mistakes in the application can lead to rejection or delays or even to legal problems later on. We will thoroughly review all of the information provided for accuracy, checking for spelling errors, missing data, and many other discrepancies before submission. This process minimises the risk of rejection and ensures a smoother incorporation.
4. Variety of Business Structures
Company formation agents can deal with the incorporation of various business structures, including private limited companies, limited liability partnerships (LLPs) and companies limited by guarantee. They can also facilitate the formation of bespoke company structures, which are not available through direct registration with Companies House.
5. Registered Office, Service Address, Business Postal Address
A physical registered office address is a legal requirement for all companies in the UK, so that central government departments can send official correspondence to them. All official government post sent to this address will be scanned and forwarded to you by e-mail at no extra cost.
A service address is a legal requirement for each officer or PSC (person of significant control) in a company, so that central government departments can send official correspondence to each of them, rather than to the company or to any of the other directors or PSCs. (In the details about the people in a company listed at Companies House this is called a Correspondence Address.) All official government post sent to this address will also be scanned and forwarded to you by e-mail at no extra cost.
Having both of the services above is particularly beneficial for any home-based business whose owner would prefer to keep their residential address private. Otherwise, without these services, their home address would need to be publicly displayed at Companies House as their Registered and Service/Correspondence address and could be found immediately by anyone who looks up their company online.
Some formation agents, such as Uniwide Formations, even provide a third address service: A professional business postal address service. This lets companies use the same address also for business correspondence with the company from all parties other than government departments – e.g. the company’s clients, suppliers, business partners, bank, accountants, solicitors etc. By choosing our business address service you can use our prestigious registered office address in Kensington, London, W8, not only for your official government letters but also for all business correspondence. All such business mail will normally be forwarded to you by first class post through the Royal Mail.
Company secretarial services
Some UK company formation agents, such as Uniwide Formations, offer company secretarial services, assisting with the preparation and filing of annual confirmation statements, maintenance of statutory registers and compliance with other legal requirements. This service ensures that all aspects of corporate governance are professionally managed, giving business owners peace of mind.
By using our confirmation statement filing service, for example, you can relax in the knowledge that your company is legal and compliant. We will ensure the completion and filing of the CS01 form and the reporting of any changes to your SIC codes, shareholder information and statement of capital.
Drafting your company’s memorandum and articles of association
A key aspect of forming a new company in the UK is the drafting of the Memorandum of Association (Memorandum) and Articles of Association (Articles). These must be prepared in accordance with the Companies Act (CA) 1996 and filed with Companies House.
A memorandum of association is a legal statement signed by all initial shareholders or guarantors agreeing to form the company. Articles of association, on the other hand, set out the rules for running the company which are agreed upon by the shareholders or guarantors, the directors and the company secretary. By using a company formation specialist in the UK, you can be assured that your memorandum and articles are correctly drafted in accordance with the law.
Same-day company formation
Another reason to use a company formation agent in the UK is the option to have your company formed on the same day. Uniwide Formations offers a guaranteed same-day service that can be used for the incorporation of a limited company, whether it is a company limited by shares, limited by guarantee or a limited liability partnership (LLP).
This service ensures that your application is received by Companies House in time for it to be processed on the same day. To make sure that your case is not rejected due to errors or missing information, you can request a “pre-submission review” of your application before it is sent to and processed by Companies House.
Digital identity checks
Business owners also use our services because we streamline the business incorporation process, removing much of the hassle and overheads of applying through Companies House. One of the ways we do this is by confirming your ID digitally when carrying out AML and due diligence checks. For most of our clients, no further checks are required.
If the electronic checks are unsuccessful, we will simply request further information and documentation so that we can conduct checks on your identity.
Services tailored to your needs
Using a company formation will allow you to “pick and choose” the services that you need. At Uniwide Formations, we offer a range of company formation packages catering to different needs, ranging from a basic package to our premium package. Our basic service includes your Companies House Filing Fee, a free business bank account from one of our banking partners, an introduction to an accountant, a free co.uk Domain, access to our online Client Portal, a digital certificate of incorporation, a digital set of Memorandum & Articles of Association, a digital company register, a digital share certificate, and digital incorporation minutes. Our premium package includes all of these services and also allows you to register a company for someone else. It also provides a registered office address in Kensington, a service address, a business postal address, printed company documents, and assistance with VAT registration.
Why not go directly to Companies House?
While it is possible to register a company directly through Companies House, doing so comes with several limitations and potential drawbacks:
| Challenges | Details |
|---|---|
| Limited business structures |
Companies House only allows the online registration of certain business types. Other structures require postal applications, which are slower and more prone to errors. |
| Higher costs | Postal registrations with Companies House are more expensive than using a formation agent. Additionally, direct registrations do not include the additional services that formation agents offer. |
|
No expert guidance |
Companies House do not provide expert guidance to those who need to register a company. Without the assistance of a formation agent, business owners are left on their own to navigate the complexities of the incorporation process. This can lead to mistakes and potential rejections. |
Frequently asked questions
A company formation agent is a professional service that helps entrepreneurs set up and run a company in the UK. They handle the process of registering a new company with Companies House and offer additional services to make running your business as straightforward as possible.
Using a company formation agent simplifies the company registration process. While you can register directly with Companies House, the process can be complex and time-consuming. Formation agents provide expert guidance, help you avoid errors, offer additional services like registered office addresses, and can often complete the registration more quickly.
Company formation agents offer a range of services beyond just registering your company. These services include providing a registered office address, assisting with mandatory filings, helping with VAT and PAYE registration, offering company secretarial services, and introducing you to banks and accountants.
Formation agents streamline the registration process, reducing the time it takes to set up your company. They help ensure all your documents are correctly completed, minimising the risk of delays or rejections. This efficiency can save you money compared to handling the process yourself or hiring separate professionals for each task.
Yes, many formation agents offer a registered office address service. This allows you to use their prestigious address for official correspondence, keeping your personal address private. They will handle the forwarding of official mail from government agencies to you.
A company formation agent can manage your company secretarial duties, such as preparing and filing annual confirmation statements, maintaining statutory registers, and ensuring compliance with legal requirements. This support helps you stay on top of corporate governance without the need to handle these tasks yourself.
Yes, many formation agents offer same-day company formation services. By ensuring your application is correctly completed and submitted promptly, they can help your company get registered with Companies House on the same day.
Yes, formation agents are knowledgeable about UK company law and regulations. They help ensure your company complies with all legal requirements during formation and beyond, providing peace of mind and reducing the risk of non-compliance issues.
Using a company formation agent offers several advantages over registering directly with Companies House. Agents provide expert guidance, reduce the chance of errors, offer additional services like registered office addresses and company secretarial support, and can often complete the process more quickly and cost-effectively.
Yes, UK company formation agents assist both UK-based and international entrepreneurs in setting up a company in the UK. They can handle the entire process remotely, making it easier for international business owners to establish a UK presence.
Final words
As we have outlined in this article, using a company formation agent offers a wide range of benefits to company directors and owners. In addition to simplifying the incorporation process and ensuring error-free submissions, we provide a range of additional services that are crucial for the smooth operation and legal compliance of a business. This makes us an indispensable partner for any new business venture.
For further information on setting up a company and the services provided by formation agents, please speak to a member of our team at Uniwide Formations.
