Benefits of Hiring a Company Formation Agent

Although forming and running a business as a sole trader in the UK is easier, incorporating your business has a ton of benefits. Limited companies have a separate entity from their owners. This means they can sue, be sued, and enter into contracts as legal persons. The companies also have limited liability, and this protects the owners’ private properties. These forms of businesses also have other significant benefits.

However, forming a limited company is a complex process and involves lots of paperwork, which can be overwhelming for most people. Luckily, if you want to avoid all that work, you can hire a company formation agent to handle all the work of setting up a limited company.

Below are some of the advantages of working with a company formation agent to incorporate your business:

Saves Time

The process of forming a limited company is long and tedious and takes lots of time. Given that entrepreneurs have lots of other duties to attend to, they may not manage to handle the company formation well. Working with a company formation agent saves those entrepreneurs time and allows them to focus on their core businesses. It also helps the business persons with other things like financial planning.

Cuts Costs

Entrepreneurs stand to save on several expenses when they hire agents for the formation of their limited companies. The agents offer them much more than the incorporation services because they provide accounting services, cloud accounting software, compliance with various requirements, and so on. They even help to open corporate bank accounts and other crucial services.

If entrepreneurs choose to do the formation themselves, they have to hire accountants, lawyers, and other service providers, which will mean extra costs. In addition, the formation agents can assist in filing tax returns after the incorporation and other services, which help businesses save costs in the long run.

Offers Legal Advice

Company formation is a legal process and ensuring it maintains its limited status and enjoys the privileges of a limited liability entity needs it to comply with certain things. Business founders can benefit from the legal guidance of the agents because they have legal experts.

The legal specialists also guide the businesses after the incorporation and ensure compliance with all legal requirements. Some agents provide free or highly subsidized legal services to those companies they help to form, enabling such businesses to save so much.