Limited companies are often a great way to start a new business – but the process of registering a Limited Company can be expensive. You may find that you’ll need to pay between £100 and £200 for legal advice, or even up to £500 from some solicitors.
Thankfully, there are ways that you can register a limited company for free that will save you money as you begin to grow your business.
Traditionally people may have used company formation agents or Companies House to register a company and paying fees to do so. Fees may range from £12 to £100s of pounds.
Most of the time you’re asked to buy extra services to register a company for free with formation agents so you may end up paying much more than you actually need.
If you’re still wondering how company registration works we have a great free company registration guide that should answer any lingering questions you have.
For example, you may need to figure out how many shares you want to create when registering a company. What should be the nominal value of those shares?
The great news is that MachFast apps create 100 shares by default (for each shareholder) at a standard nominal price of £0.01.
That is right, you don’t really need to think about all those nuances and get the basic company going in no time. If you need a more sophisticated set-up, MachFast apps can do that as well.
But, If you’re all set and ready to register your business here are the top 3 ways to do so.
Best Ways to Register A Company for Free
1. Use MachFast.com Free Company Registration
First and foremost, you can register your company entirely for free using MachFast’s web app. MachFast is the UK’s first app that allows users to register their limited company whilst gaining access to a free business bank account at the same time.
We are companies house registered, a recognised company formation agent and an authorised Companies House eFiling agent. Our quick and easy to use web app offers free online incorporation and ensures the best, and quickest, service possible. The majority of company registration applications through our app are processed within just 3-6 hours, depending on the workload of Companies House.
We remove all the hassle of filling out endless paperwork allowing you to register a company online in minutes.
2. Buy Additional Services that you may or may not need
Some company formation agents and other companies may offer you a free company registration service. That means that you may have to buy specific services (for example a registered office service for one year) to qualify for a discounted company registration.
Sometimes these deals may be great (if you are looking for a specific service). Other times you may not need the service immediately, but you may need to commit and buy the service upfront.
You’ll need to consider whether you actually need these additional services or not, as they may seem like value for money, but in the long run it may cost you way more than it needs to.
3. Become a Sole Trader, rather than a Company
One way to set up a business and begin trading for free is not to register a company at all. Instead, you can set up as a sole trader.
Starting and registering a company is an important decision. To help you think through whether you should be a Sole Trader or a Limited company, we have put together a fantastic Sole Trader vs. Limited Company Decision Guide for you.
Ready to register your business?
At MachFast, we believe that every entrepreneur should be able to register their business for free. That’s why our app allows you to do just that in under 3 minutes!