Lawyers for Incorporation of Companies

Ian McKenna

Commercial Senior Support
Heald Green, 0161 283 6573
Get in Touch
Dan Chadwick
Dan Chadwick
1748941505
We recently sold and bought a new property, Anna B was our solicitor (both sale and purchase). Our chain was very long and there were several factors causing issues and delays. Anna and the team at the Cheadle branch, worked very hard to ensure the success of the chain. My husband and I are extremely grateful for all their hard work and support throughout the process - which at times was stressful! We would highly recommend.
Laura Anderson
Laura Anderson
1748536946
I can not speak highly enough of Anna Beavers at Mounteney, she helped us with our recent house sale and purchase, when I say helped, she guided us through it expertly, explaining things as went along, Anna was very professional but also down to earth and kept us up to date with progress. One thing that stood out for us was how responsive Anna was, ALWAYS getting in touch when she said she would, emailing back very promptly to enquiries, chased other conveyancers when needed, this was a huge positive for us and made the whole experience so much better than we thought. Thank you so much Anna!
radu muntean
radu muntean
1747855457
I have dealt with a number of solicitors during the last few years and I think that Mr. Ian McKenna is by far the best solicitor I've ever worked with.He is very efficient, he has an outstanding expertise, and he has a very high level of professionalism. All these qualities make him a great person to deal with.I really appreciate how he handled my property purchase from start to finish and I will definitely use his services again.
Hetal Knowlson
Hetal Knowlson
1747835491
Anna Beavers was our solicitor and she was excellent. Very responsive via email/call, gave good advice, navigated the challenges of sale/purchase well and managed to complete a purchase in 6 weeks! She went the extra mile to make sure we could complete so quickly. We were so glad we went with her, service was top class. Thank you Anna!
Eleanor Bowkis
Eleanor Bowkis
1747249570
Anna Beavers was our solicitor for sale and purchase. We cannot praise her enough. She was amazing throughout, extremely quick at responding to emails and kept us updated as much as possible.She ensured all funds were ready for our completion date and made everything effortless. We were completed and in our new home by 1pm! Incredible service from Mounteney and we will use them again in the future for sure.
Lucy Wiggins
Lucy Wiggins
1746529958
Very good communication- friendly, approachable staff- made the whole experience less stressful!
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£240

Description

A company is an independent legal entity that is owned by “members”, and controlled by “directors”. There is a long history of people using companies as the entity through which they trade, i.e. instead of trading as individuals (“sole traders”), or in conjunction with other people (“partnerships”).

One of the main benefits of using companies as trading entities is that any trading liabilities which a company may incur can be limited to the amount of money that the members of the company state as their backing to the company (its capital). If the company should incur greater liabilities than its capital then the directors and/or members would not normally be liable to make up any shortfall.

The overwhelmingly “normal” method of limiting liability for ordinary trading is for members to inject their capital into the company by the company issuing Shares in exchange for money. For a company whose liability is limited by shares, the ownership of the company directly relates to ownership of shares in the company. Trading surpluses can be paid to the owners of shares by dividend and if the company is wound up, any accumulated reserve will also be paid to shareholders.

A much less common alternative method of limiting liability for a company is by guarantee. This is usually when a company is not trading in the normal sense e.g. a charity or social enterprise. In this structure the members do not actually introduce capital into the company, but they pledge to do so if the company needs that capital in order to meet its liabilities. There is no equivalent concept of ownership by members (Guarantors) of a company whose liability is limited by guarantee.

The members of a company limited by guarantee are not normally eligible to benefit from any surplus such a company may generate. The company’s constitution will specify what should occur to any such surplus – this is often payable to a charity.

Whichever method of limitation is adopted, a limited liability company is normally the best way to trade because the structure separates your business affairs from your personal affairs. In particular, it protects your business in future from personal liability you may have undertaken in the past. This structure also protects you personally from liabilities your business might undertake in the future and ensures that your personal and company tax and accounting are separated.

Companies are the more common and convenient business structure for trade of any reasonable size and have the following advantages:

  • A company lends itself to participation by others – including employees, supporters and investors
  • It makes a business saleable/transferable (e.g. on death of its controllers)
  • It enables a business to be ended cleanly if needed
  • Companies may find it relatively easier to get credit, win customers, obtain favourable suppler terms and undertake leases as the are the normal form.

Mounteney Legal Services has established hundreds of companies; our Formation service (that can be bought on the internet) is intended to be an economical method of establishing a new company. Mounteney Legal Services’ Formation Schemes are particularly suited to the many ministries and groups who wish to establish new Company Limited by Guarantee on a low budget. The Christian ethos of our firm often resonates with such groups.

When deciding to use our Formation service, you should bear in mind that:

  • Companies need an ongoing administration
  • Annual accounts have to be prepared and files with Companies House
  • Companies House have to be informed of changed to the make-up of a company
  • Companies House’s records have to be confirmed each year with a Confirmation Statement
  • Companies are separately taxed – normally by Corporation Tax
  • There is some loss of privacy as documents filed with Companies House are public.

Included in our incorporation service is the first year’s Company Secretarial service (if required). You may also wish to consider our Charity Formation and Community Interest Company products and our guide Charity and Social Enterprise.

How long will it take?

The time taken for our work to conclude depends on precisely what it is we are asked to do.

  • A Company Limited by Shares usually takes about 1 day to incorporate
  • A Company Limited by Guarantee usually takes about 2 working days to incorporate

Our Formation product comprises; taking your instructions, establishing the company, first year’s Company Secretarial Service, if required and a Guidance service.

Money Matters

Your supplier is unregulated Mounteney Legal Services Limited, that does not charge VAT. Our work will be charged as follows:

We will charge £240

There is more about our fees on our website here

If you have any questions or require any further information, please don’t hesitate to Contact Us.