Once you’ve established that you want to start a limited company, we need you to complete a simple form telling us what the name of the company should be and who the directors and shareholder will be.
Complete our company incorporation form here. If you are at all unsure about anything on the form, give your BroomeAffinity accountant or adviser a call.
We are then able to set the wheels in motion and the process normally happens pretty quickly from here. Typically, the following steps need to be taken:
|Corporation tax registration||BroomeAffinity|
|Arrange Insurance||The contractor|
|Arrange and sign contracts with agency||The contractor / BroomeAffinity|
|Register company for HMRC online services||BroomeAffinity|
|Open a company bank account||The contractor|
Once these steps have been completed, you can begin to trade. It is important to note that, while all other steps must be at least commenced before you start your contract, you will only need to have the bank account in place by the time your client or agency wants to the pay the first invoice, which can be as little as two weeks and as much as two months from the start of the contract.
The bank account can often be the time consuming part of this process. Because of anti-money laundering regulations, we are unable to assist in opening a bank account. We recommend either HSBC or Santander but sometimes you might be as well to use the bank you are with personally. You should be aware though that Lloyds TSB and HBOS are both famously slow at opening business accounts. When setting up the bank account remember to sign up for internet banking as this will make your life much, much easier.