At this time we are not charging any fees: neither for . GoSolo business bank account is free for its first 500 users. Also, you will not be charged for opening Limited Company. As a side note, if you plan on registering your Limited company using GoSolo service and you are one of the first 500 users, you will not be charged. You can find more information about pricing here.
There is detailed information about new Limited company registration in our blog How can I register my company with GoSolo?
GoSolo is authorised by the FCA and completed all the necessary compliance checks to be authorised as an e-money agent. Although we cannot offer FSCS deposit protection, your money is 100% safe in a ring-fenced account of a Tier 1 UK Bank. Ring-fenced means that we don't have access to it and cannot move or use it somewhere, you are always in total control.
If you register a company via GoSolo, the default share structure is 100 shares for the total value of £100.
All shares issued are non-redeemable and rank equally in terms of each of:
Sole traders have unlimited liability - meaning that they are personally liable when things go wrong. A sole trader may also be less tax-profitable than setting up a limited company. But still a sole trader is the most common legal structure for private entrepreneurs in the UK.
We recommend you read more about different factors that can help you to make a choice on our blog The Pros and Cons of Freelancer vs Limited Company