Hello,
We are developing a piece of software for accountants and one part of it has to do with company incorporation. Check out our company formation software
I would like to find out more about how you accountancy firm is involved in company formation.
- How many employees does your accountancy firm have?
- How many companies do you form per month?
- How much do you pay per formation?
- Do you get all electronic documents along with your purchase? Do you need them?
- What company formation service providers do you use? What do you like/dislike about them? What problems do you encounter?
Thank you so much!
Replies (14)
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well you would do well to develop software
that draws up the articles where there is more than one class of share , had to do it recently , the whole thing took ages and was a ruddy nuisance , we form about 10 a year and use CH site for them, its about £25 a go and god forbid there is any actual paper to deal with , all electronic isn't everybody these days
why do you need to know how may employees we have, whats that got to do with the price of eggs?
iam aware of the cost for direct filing and £25 is reqsonable
this is a competitive market place , look how the other suppliers add value, but accountanst typically go for cheap . its not a core activity for me so not in the market to make money from it . yes we receive dovcuments from companies hosue when we incorporate but they are dfairly sparse. yes you need some because for example banks are still pretty useless when it comes to newcos tho thye are getting better and can now actuallybe bothered to look up the co at CoHo .
LOOK AGAIN AT THE DIFFERENT LEVELS OF COST AND SERVICE PROVIDED BY OTHERS
Bit confused
£25 isn't exactly steep, i think company formation agents have reduced their margins so much that it's hard to believe that they can actually make a living. I pay about £20 via an agent and as Carnmores says I would happily pay more for a slightly tailored package. Do I need documents from Companies House? OF COURSE, it's absolutely essential, but preferred by email rather than paper.
I form about 8 companies a year. There have been numerous discussions about the fees we charge for this service, some people charge the client costs only, some charge £250. Personally I charge about £75-£100 which includes some of the other HMRC and registration paperwork.
I expect company formation within 24 hours, I have no employees.
I wouldn't consider pushing incorporations to clients purely because I wanted to make more profit/margin from it, that would be doing the client a dis-service.
Hope that helps!
Companies House
We form directly with Companies House. It doesn't take any longer than keying the same data into a formation agent's site, and you don't get endless upsells of unwanted goods and services. Not to mention completely unnecessary emails every year reminding us that the annual return or accounts are due.
The only time in the last year or two that we've used an agent is when there was a reserved word in the company name and we had to supply a letter of approval from the regulator. Companies House don't seem to do that directly.
It would be great to get more answers!
Choose a day when most accountancy offices aren't closed!
I don't think you understand the accounting profession!
That's a great answer, thank you!
How many incorporations do you do per month and what's the size of the firm, if i may ask?
Regarding the day: haha yes i should have waited until January :)
Christmas and January are not recommended if you want to deal with accountants.
I do about 10 to 15 per year.
If people are after no frills approach I just do it through companies house which charge £15 and you can also register the basic details with HMRC. If the company is likely to be a bit bigger ie with shareholders different to those running business and something a bit better is required I use Hanover company service who charge about £50 for a professional set of books including 3 copies of bound memorandums, share certificates etc. what I charge it on for depends on what else I have had to do as part if the start up but usually charge about £75 to £100 to include registration with HMRC and vat. I did speak to someone the other week who had always used a solicitor to do it who charges £400 just to register the company. He couldn't believe I would do it for £100, although these type of clients are few and far between these days.
10ish
Use CH incorporation service
Charge clients £175 plus vat.
Will charge more if they want to appoint additional directors, have more than one class of share or want a shareholders agreement.
Would I do more? - NO, only do them when its right for the client.
Oh - sole practitioner, one PT member of staff.