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Guide to Company formation UK
Business start up in the UK
By NOVIK Ltd
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NOVIK Ltd is highly reputable UK company which deals with company formation uk service, accountancy including VAT registration, mail forwarding and answering service. Starting up your own business is not something that you do to lower your stress levels. You may have no other income coming in and juggling your money or you may have a full time job and be juggling your time. Either way we know it is not easy – we have been there as well.
Because we focus on small businesses we have a special affinity for start ups. After all most small businesses in the UK were relatively recent start ups themselves. And we have dealt with a large number of them.
Are You Ready for the Paperwork?
One of the comments that we always hear from people starting up their first business is “I know my trade inside out, the idea is great and I have a whole load of potential customers; the problem is I don’t have much idea about all the paperwork.” Don’t worry, this is a far more common problem than you think – almost every new business has this issue.
The fact that it is a common problem does no mean that it is an easy problem. The paperwork is not that challenging mentally but it does take a long time, and you can not afford to make mistakes – and mistakes are easy on forms that you have never seen before.
We have a specialist team who are used to dealing with these issues. This team have seen the forms thousands of times before and they have dealt with your issues hundreds of times. You are in safe, experienced hands.
We know that this is not a time when either time or money is in great supply, and so you can’t really afford the high priced work of solicitors or accountants. For the amazingly low price we can offer you our start up business pack. This will get you off to the flying start that your business needs. The pack includesthe following services:
• Three months free use of our Accounting Service
• Use of our virtual address for mail forwarding also for three months
• Company registration
• Company registered office
• Certificate of Incorporation
• Articles of Association
• Memorandum
• Combined Members’ Register
• Resolutions for the First Minutes
• Share Certificates
How can we afford this incredibly low price?
This is an amazing bargain and we are quite often asked how we can afford this sort of service. After all you would be looking at the best part of £500 for this service if you went into an accountant’s practice or solicitor’s firm. How is it that we can afford to offer you the best prices in the market?
One reason is that we have so much experience in this work; unlike your local accountant this is our speciality, which means that we had the ability to keep a close eye on the process and weed all the unnecessary inefficiency. We also intelligently use outsourcing so as to get experienced and qualified staff at the fraction of UK wages. These both allow us to extract the maximum benefit and to then pass the savings on to you.
We want a continuing relationship
There is another reason. We specialise in providing accounting and tax services to UK businesses. We know that starting a business is a foot in the door. We think that if you are impressed with the service that we offer, and we are sure you will be, that you are very likely to keep your business with us. So in effect we believe that we can afford to subsidise your start up, because most of those start ups end up as long term customers of our reasonably priced, accessible and professional services.
Even though there is no obligation to use our services any more after you have had your three months of services in this package – we believe that you will not want to go anywhere else. We are a specialist in providing for the accounting needs of UK small businesses and offer the following services for the small but growing business:
• Online accounting and book-keeping services
• Payroll services
• Tax services including VAT and Corporate tax planning
• Audit services
• Strategic planning
As you can see we believe that we will be able to provide accounting services for your business for a few years yet.
Why Start a Limited Company?
One question we are often asked is why should you put a start up business into a limited company? After all the business is often still located in your spare room or garage, isn’t a limited company a bit grand?
As people who deal with small UK businesses every day, including a large number of start ups, we understand that worry. Sure, it is going to be big, but it is not big yet and a limited company seems a large step.
Almost every small business sooner or later goes into a UK company – and it is much easier to set up the limited company when you have less to transfer into the company. And you can see why so many UK small businesses decide to form a limited company:
• Limited liability essentially means that your company will only be liable to the extent of their assets, not your personal assets
• Employee liability. As an employer you are liable for the actions of your employees – even if you have directly warned them not to do the action. This liability will apply to the company assets and not you.
• Tax rates. Tax rates in most, but not all, cases are lower for small limited companies than for sole traders.
• Use of shares. You can use shares to find alternative ways of funding to bank loans and to attract, motivate and retain key staff.
• Recognition. Both suppliers and customers tend to view a limited company more favourably than a sole trader
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