Deciding whether to form your company yourself via Companies House or use a company formation agent is your decision. Forming it yourself online through the Companies House website is certainly the most cost-effective approach, as you only pay the standard registration fee. This involves filling out the application form, providing details of directors and shareholders, choosing a registered office address, and selecting your SIC codes (you can choose up to four). Payment is made online by debit or credit card, and the current fee is £50.

If you find the process daunting or lack confidence in completing it accurately, a company formation agent might be a worthwhile investment. These agents guide you through the process, ensuring all details are correct and compliant. While they charge a fee on top of the Companies House registration fee, (can be anywhere from £20 to several hundred pounds) the peace of mind and time saved can be more valuable. Reputable agents will offer various packages, often including services like registered office addresses, mail forwarding, and even business bank account setups. It's crucial to research agents thoroughly to ensure they are reliable and trustworthy, checking reviews and potentially confirming their regulatory status. These agents are regulated, and it offers an extra layer of security.

Regarding business bank accounts, it is true that some Fintech companies like Tide, Anna Money, and Wise often bundle company formation services with the offer of a free business bank account. These packages can be attractive, streamlining the initial setup process. However, it's essential to compare the long-term costs and features of these accounts against other options to ensure they meet your ongoing business needs. See «Bank Accounts» Chapter for a bit more details.

Last edited 20.04.2025