1st Formations Review
Billed as one of the leading online formation companies in the UK, 1st Formations register new limited companies online for clients from the UK and overseas.
They proclaim to offer a quick and easy service, so let’s use our 1st Formations review to find out if they live up to the hype.
At a Glance
A companies House registered eFilling agent and member of the Association of Company Registration Agents (ACRA), 1st Formations offer various packages depending on the type of limited company you want to set up.
The company offers a simple online application form and claim the majority of registration applications are processed within three hours. 1st Formations also boast transparent fees which cover the cost of registering your business in England, Wales, Scotland or Northern Island. There are lots of optional extras too, such as address services.
How Does the 1st Formation Process Work?
Our 1st Formations review suggests the process is relatively straight forward. If you’re not sure where to start you can have an informal chat with one of the many agents, they can talk you through the company formation process, your options, and how to complete the online form. As a brief overview you will need to:
Choose a Company Name
First impressions count, choose a company name that resonates with your company image and then search to see if it’s available for registration.
Select a Suitable Registration Package
We discovered that there are eight packages to choose from in total (lots of info to digest so prepare yourself)!
If you’re looking to register a Private Limited Company there are five packages to choose from. You get a set of digital documents (with some packages you also get hardcopy documents). A couple of the packages also offer address services such as registered office address, and the all-inclusive package offers added extras.
There’s also a package aimed at those looking to register a Limited by Guarantee Company, a package for those wanting to register a Limited Liability Partnership (LLP), and a Non-Residents package for overseas residents keen to set up a UK company.
Check Out the Optional Extras and Head to The Checkout
From conducting our 1st Formations review, we were able to look over the optional extras offered. There’s are quite a few to choose from! The business address services could prove useful, as could the business telephone number and call answering service.
Input Your Details
Finally, you need to input the details of your company. We’ve given the application form a quick once over and it seems relatively quick and painless.
You’ll need to enter your registered company address, and Standard Industrial Classification (SIC) code (relating to the activities of your business).
You can find your SIC code on the website so don’t worry if you don’t know it! You will also need to include personal details of your company directors and shareholders.
1st Formations profess to keep their fees low and offer full transparency, which means there are no hidden costs to worry about. The fees certainly seem competitive and we have to agree that using a formation agent can be a cost-effective solution.
Prices range from a very reasonable £9.99 to £124.99 depending on the package that best suits your needs. VAT is excluded from the price, so you will need to take this into account too.
It’s worth keeping in mind that the fees do vary based upon the type of package you are interested in. Check to see what you get for your money – address services are not included in all of the packages.
There’s also a whole host of other optional extras, so be aware that the package price could increase quite significantly once you’ve finished loading your shopping basket!
Value for Money
Our 1st Formations review indicates that you do get markedly good value for money. We do like the clear pricing structure and a there are a few sweeteners thrown in for good measure, such as access to the free Online Company Manager which will enable you to easily maintain your company.
Certain packages also have added bonuses, these include a Free .com or .co.uk Domain Name, an Amazon Business account 25% Discount Voucher and VAT registration, to name but a handful of freebie features.
1st Formations Reviews From Customers:
1st Formations was the easiest way to register my company online – hassle free, and worry free. The customer support is fast to respond and very helpful.5-Star review from Robert Pop via Google Reviews
I found 1st Formations very easy and straight forward to deal with. I needed a quick no fuss company registration process and that’s exactly what I received. Excellent service at a very reasonable price.5-Star review from Martin Chenery via Google Reviews
Despite over-strict KYC (Know your customer) requirements, I would recommend and support 1st Formations Limited when it comes to anything in regards to the Companies House of the United Kingdom of Great Britain and Northern Ireland.5-Star review from Adib via Trustpilot
1st Formations Advert
Good customer service
1st Formations state that 99% of customer calls answered within 7 seconds by senior and experienced team members. Aftercare is considered important too, and you continue to receive support throughout the life of your company.
Lots of packages and benefits
There are plenty of packages and features. Some benefits are included within the package price e.g. the online company manager feature that allows you to update company records etc. Others can be added on for a fee.
Full compliance and world-class partners
Our review reassures us that 1st Formations ensure all documentation is up-to-date, top-quality and fully compliant with all appropriate legislation and regulations. The company also has world class partners (including Lloyds Bank, Tide, Barclays Bank and Amazon Business).
Apply easily and start trading on the same day!
You can trade as a limited company within a matter of hours (the majority of requests are processed within three hours). The online process is straightforward and there’s plenty of support should you need it.
Let’s check out the disadvantages our 1st Formations review spotted:
Lots of information to process
There’s lots of information to digest regarding the packages available and the additional services. Everything is outlined on the website, but you will need to spend time reading through it all!
Some additional fees and VAT isn’t included
The package prices are competitive, but the cost of additional services can add up – so take that into account if you have a budget in mind. Note that VAT isn’t included so you will have to take that into account too.
We like the transparency regarding fees (no-one likes to get caught out regarding hidden charges), but adding VAT and the optional extras can make the total cost mount up. However, we still feel 1st Formations offers value for money.
We would also like to point out that the company has a good reputation and offers a comprehensive service to its customers. We can certainly see why so many customers opt to use this agent when setting up their own limited company.
Top-Rated Company Formation Agents
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|£12.99||Excellent||Read Review||Visit Website|
|£12.99||Excellent||Read Review||Visit Website|
|£11.99||Excellent||Read Review||Visit Website|