How much to set up ltd company

M

meathman

Guest
I was quoted 740 by my accountant to set up a new ltd company, is this the norm price to pay, as i have seen that the some company formations company will do it for around 400 plus vat. What are peoples ideas on who to use
 
by all means do it yourself but you will need to put together shareholder registers and other statutory books etc. you will also need to get a company stamp, again it is cheap and strightforward.

All in you should get away with about €150.

If you are in a hurry use somone like CFI (formations.ie) they will set it up in a few days and it will cost you arounf €400.

Submit a paper A1 form to the CRO yourself and you should be waiting about 6 weeks. Give yourself another 3 weeks to get it registered for tax.

If you are in no rush do it yourself and save the money. Don't use your accountant, he will charge you €740 and then turn around a use CFI for €400 himself. There are otehr newer formation companies who do it for less than CFI if you look.
 
As has been said on other threads before whether the accountants fee is high or not depends on whether any advice is being given about setting up the company and whether it is even the best thing to do at all. For formation only with no advice yes it is high, but a few hundred euro to get the right advice at the start may be worthwhile.
 
Companies shop on Dame street are pretty good if you do decide to go down that route. A lot of accountants use the services of these agents and the average charge is approx 400
 
You shouldn't just presume that its a limited company you need. If your accountant has recommended that it is a limited company you need, some companies who provide incorporation services are:

[broken link removed] - €269+Vat
www.companysetup.ie - €252+Vat
www.businesscompanyformations.ie - €295
www.companyformations.ie - €380
- €419

Be sure your formation includes the following:

Certificate of Incorporation
Memorandum & Articles of Association
CRO Filing Fees
Company Seal
Company Register
Director/Secretary Duties Booklets
Copies of all documents filed.
 
Try Omnipro Ltd in Carlow. I would charge a client €660 plus vat for a company formation. This would include an initial meeting of maybe 1.5 hours. Formation and registration of the company for Corp tax, PAYE and VAT as well as helping client to open a bank account and the provision of basic spreadsheets for bookkeeping and/or advice on accounting packages as well as expense claim spreadsheets. I think this is good value. Oftentimes my job entails convincing clients that they do not need a limited company. I would buy the company from a formation agent and this would be ordered online. The key is in looking for a good accountant.
 
meathman,
GED's post is very good - read it carefully ! especially note whats included in the price !.
I used companysetup.ie last year and had no problems - you can claim back the VAT on the setup costs.
I do my own (basic - ie one employee) VAT and PAYE/PRSI returns , and use a local accountant for occasional advice and end of year returns etc (for a small fee)
 
I used companysetup.ie and was very happy with the service level. Generally I'm a fan of DIY but they (and other similar outfits) can get you set up in a much shorter space of time, about 2 weeks, than you can by doing it yourself if that's an issue.
 
Niall M said:
this must be new, they set one up for a friend of mine last year, who is neither an accountant or a solicitor!
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They actually have used this claim in their advertising for some years now. Maybe they have changed their policy although I doubt it, as their website http://www.kearneycurran.ie/ still states this on the first line of their home page

Kearney Curran & company provides a service for Solicitors , Accountants, Fiduciaries and Financial Advisors.
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Maybe your friend organised his company through an intermediary?
 
simplyjoe said:
I would charge a client €660 plus vat for a company formation. This would include an initial meeting of maybe 1.5 hours. Formation and registration of the company for Corp tax, PAYE and VAT as well as helping client to open a bank account and the provision of basic spreadsheets for bookkeeping and/or advice on accounting packages as well as expense claim spreadsheets. I think this is good value. Oftentimes my job entails convincing clients that they do not need a limited company. I would buy the company from a formation agent and this would be ordered online. The key is in looking for a good accountant.
Click to expand...

This post should be framed and cited whenever posters accuse accountants in general for ripping off customers by charging higher fees than company formation offices.
 
ubiquitous said:
This post should be framed and cited whenever posters accuse accountants in general for ripping off customers by charging higher fees than company formation offices.
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Surely it'll depend on the accountant?

Are you saying that there's none of them out there charging significantly more than the specialists and then just handing it over to them?

Don't get me wrong: I think the post you referred to is good value, and I'd recommend talking to an accountant in any case. In my own case, my accountant just referred me on to an agent (at no cost).

I'd say that it's wrong to suggest that accountants in general rip people off, but equally it's wrong to generalise that they don't. I'd say: some do and some don't.

Now, as for lawyers.....
 
ubiquitous said:
Kearney Curran do work only for accountants and solicitors. They do not deal with the general public.
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Never used them so can't pass any opinion but having looked on their website I won't be using them anytime soon as there are at least 2 spelling/grammatical mistakes in the first paragraph.

Doesn't inspire much initial confidence.
 
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