Reply With QuoteUnless you have a really good reason I wouldn't recommend it. Set up a new clean company with no history and no possible past issues to come back and bite you.
Just wondering if anyone has bought a dormant company (UK Registered) before? I'm looking at setting up a part time services company and was hoping to just buy a dormant company.
I've been on Google and my first guess was that I'd have to buy them off HMRC or some other public sector organisation, but it seems like there are lists and lists of websites selling them.
1. First things first - are these legit?
2. Has anyone done this and had any trouble? Or recommend the best place to buy them?
3. Any things to watch out for or be cautious of?
Cheers,
John
Unless you have a really good reason I wouldn't recommend it. Set up a new clean company with no history and no possible past issues to come back and bite you.
Thanks, I'll have a look into a new start-up but thought buying a previously set up company may be cheaper/quicker.
I guess trouble/risk-free is best!
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Thanks, I'll have a look into a new start-up but thought buying a previously set up company may be cheaper/quicker.
I guess trouble/risk-free is best!
It's not expensive to set up a new company. From memory, it cost me around £650 or so last time.
You can do it for £20 online.
My accountant did mine for £200, which included the paperwork required to transfer all the assets from my sole trader business into the new Ltd company.
Haven't done it myself but a mate of mine bought the name of a company that was still trading (but had left the name go dormant) and it's causing him all sorts of headaches.
The previous owner of the company is now chasing him for money for rental of land and a radio mast, even though he only bought the company name and not the company itself.
Ther are lots of companies that will do the admin for you, automated systems so very cheap.
This was the first result on Google:
https://www.companiesmadesimple.com
I just googled "start a new company".
I've used services like the above before and it's very simple.
Buying a company with previous history needs thorough due diligence as you will purchase all historic liabilities as well as current assets. Very much best avoided if possible. Start clean and fresh. Most law firms have companies ready set-up to purchase.
It's worth a little expenditure to make sure it's done right. A couple of hundred quid spent now could save you a headache in future.
You can do it yourself, it costs buttons and there is no come back from any past activity.
We use a company called Dudleymiles, although many others are available, they do the job quickly & effectivly.
Just start a new one on companies house website...
I used www.blueskyformations.co.uk, cost pennies and I had the company registration certificate in the same day.
Yes - just set up through the on line formations companies - cost around £15. Check that the domain name is available as well, so you can have emails come in, even if you do not set up the matching website. "co.uk" emails will cost £0.99p. So all in nothing. If you don't use it initially, then £15 to companies house for a dormant company. Of course your name and address will then go into the public domain though!
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