SetupaCompany Review

SetupaCompany Review
Our Rating

UK-Based Company Formation Agents

SetUpACompany Logo
Overall
90%
90%

Pros

  • Free one month accountancy trial
  • Company bank account + cashback
  • Formations completed within 48 hours

Cons

  • Long wait to claim cashback
  • Too many packages to choose from

SetupaCompany is a company formation agent that has been around since 1994.

Offering one month of free accounting with every formation, SetupaCompany claim to be able to form your limited company within 48 hours.

One of the big plus points our SetupaCompany review has uncovered is that they are backed by a firm of accountants, giving you a very professional service.

Main Advantages of SetupaCompany

By far the best thing about SetupaCompany is the speed and ease at which you can form your company. They take care of all of the legal documents so that all you need are a few details about the company you wish to form:

  • Your desired company name
  • Address of your registered office
  • Details of the directors of the company
  • Details of the shareholders of the company

Providing you have these things then the application should only take a few minutes to complete, in fact the application can be completed in as little as 4 minutes.

This is mostly down to the intuition the form uses. For instance, if a person will have multiple roles in the company you still only need to enter them once and then assign them each role.

Your registered office address will need to be a UK physical address and will be shown on the public records. However, SetupaCompany do offer a registered office address service with mail forwarding should you need it although it does cost extra and is perhaps not the cheapest you can find. Still, for speed and ease you won’t find much better.

Main Disadvantages of SetupaCompany

The main negative our SetupaCompany review has found that the number of options avilable can be quite confusing. This isn’t unusual with company formation agents who tend to offer packages to cover all bases, but it’d not particularly helpful unless you are sure of exactly what you need.

The cashback offered on bank accounts is also a little tedious as it’s not automatic, you have to physically request it when it’s ready to be paid. We also found that we had to follow-up again when it hadn’t arrived after a few months which isn’t great customer service.

Another negative is that SetupaCompany only offer the basic company limited by shares formation. You cannot form other types of companies such as public limited or even limited by guarantee companies.

You also cannot issue anything other than standard shares (e.g. issuing A/B shares is not an option). Again though, this will not matter to vast majority of people and it does help to keep things very simple and easy to follow.

Value for Money

In terms of value for money, our SetupaCompany review has highlighted that in addition to your standard company formation, you also gain the following optional extras on all packages:

  • Free business telephone number
  • Free live call answering trial
  • 1 Months free accountancy service
  • Cashback on new company bank accounts

It should be noted that the free trials are optional and you are not automatically signed up to them so there is no worry about being charged for anything unexpectedly.

These extras make for excellent value for money when you consider the cheapest package is only £15.99 which is just £3.99 more than you would pay if you went directly to Companies House.

The Setup A Company Formation Process

As stated the application process for SetupaCompany is very straightforward and is probably the simplest you will find anywhere. The video below will take you through the entire process and is worth a watch if there is anything you are unsure about as it also explains what you should put in each field:

 SetupaCompany Formation Packages

There are six different company formation packages offered by SetupaCompany. Below we’ll focus on the three cheapest ones:

Digital – £15.99

This package is the cheapest and most basic formation designed for those that just want a company setup without any fuss.

It’s an entirely electronic package which means you do not receive any printed documents through the post.

You will however get PDF’s of the formation certificate and memorandum and articles of association.

Best for those who will have an accountant to do everything else for them.

Digital & Print – £24.99

This package contains the same as the Digital with the addition of share certificates and printed copies of all documents sent through the post.

This is the package we would recommend for most people as it makes your company seem more official and ensures you have all the documents you are likely to need when opening a business bank account.

Best for those who want to ensure all the basic requirements are covered.

Privacy – £39.99

This package includes everything from the Digital & Print package but also includes a registered office service, directors service address, and company statutory register (digital). In essence, this package is for those that do not want their address showing on public records.

Best for those who work from home and need extra privacy protection.

In addition to this, the SetupaCompany formation packages also include:

  • The £12 Companies House filing fee
  • Online portal to manage your formations
  • The web-authentication code

This means no matter which package you choose, you get a lot for your money.

SetupaCompany Review Summary

Overall then, our SetupaCompany review has shown that if you want to get your new limited company setup, registered with Companies House and fully trading in the shortest possible time – SetupaCompany offer a good level of service.

Designed to keep things as simple as possible, SetupaCompany does lack some of the advanced options offered by other formation agents but these will not be required by the vast majority of people anyway.

Every formation comes with a host of included bonuses that will save you both time and money.