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UK company formations
As a chartered secretary in public practice, I regard company formations as a loss leader as a starting point. I would be looking for the ongoing secretarial work and to establish a relationship with potential clients. I've worked with legal and accounting practices both large and small, and it should be accepted that there is little or no money in bog standard private company formations. Furthermore, you generally get what you pay for. A basic formation may often do the trick, but too often it is a false economy when anything more particular is needed such as pre-emption rights. Some clients have gone the cheap route and later found themselves with a large bill for rectification work. So agreed - value over price. Get the detail right in the first place and it could save you a lot of aggro down the road.
I don't have a problem with company formations being offered by Companies House as I'm not looking to compete on price, but do be aware of the scope and limitations.
formations
we manage to make a great profit still from formations. if your client wants you to do it charge the time for it.
Company Formations
We have clients who wanted us to do it and are happy to pay a reasonable rate for doing so and others who came to us with a company already formed
Does not contribute much to the debate but that is how it is
We could have the same debate about what we all charge for doing Tax Returns and whether companies do it themselves or outsource
We will take them either way
Regards
Ryedaleman
You get what you pay for
Accountants know they can form a company for £18 at Companies House (CH) but they know the service is very limited. Limited advice, limited options, limited post formation advice and limited customer service. There are also alternatives to CH that are less than £18 but again these are typically limited in their offerings too. If you want a limited service go and get it.
It may be argued that the same applies to accounting firms. You often get what you pay for. There are many ‘online accountants’ offering cheap accounting, but it does not mean it is right for your business. I have often discussed that a good accountant should save you and your business money.