Once upon a time there was a choice when forming a limited company.
Either you paid through the nose with a 'pukka' agent who gave you a top-notch service and had the know-how and back-up to answer any questions you had on company law or you went to a cheap and nasty 'bucket shop' that piled them high and sold them cheap without much in the way of customer service or understanding of the law.
Formations Direct entered the ring in 1994 to provide a cheap service with proper back-up and a good customer experience. Since those heady days the market has moved on and most of the expensive companies have had to revise their prices downwards, while many of the cheap firms are offering ridiculously low prices or free formation if you open a bank bank account.
We've has once again stepped into the fray and are now offering free company formation with a bank account, but will continue to offer the high standard of customer service for which we have become legendary.
It is good practice to use a member of ACRA and to build a relationship with the formation agent so that you can access up-to-date knowledge when you need it and be assured that if anything goes wrong you’ll have the correct support to fix it quickly
So what’s the difference who you use to form a limited company? Like everything else in life you get what you pay for.
Most people are blissfully unaware that the company’s memorandum and articles of association can vary widely between formation agents. Formations Direct uses a special copyrighted set that have been prepared by one of the UK’s leading commercial law firms, whereas the majority of formation agents are using default Companies Act articles that in many case are not appropriate.
A further difference is whether the formation agent carries professional indemnity insurance, and perhaps most importantly — do the staff actually know what they are talking about when you ask them a question?
Formations Direct has an up-to-date technical library and offers its customer free advice and guidance on a range of company law matters. It also ensures that its staff are adequately trained so they know when to answer themselves and when to refer the question up to one of the three professionally qualified accountants on the payroll.
Forming a limited company has always been, and should continue to be, different from purchasing a loaf of bread. It is good practice to use a member of ACRA and to build a relationship with the formation agent so that you can access up-to-date knowledge when you need it and be assured that if anything goes wrong you’ll have the correct support to fix it quickly.
At www.formationsdirect.com you’re in good company!
