Companies House vs 1st Formations vs Rapid Formations UK 2026

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1st Formations vs Rapid Formations vs Companies House Direct UK 2026

Most guides compare only the two agents. This one starts earlier — with the question every UK founder should ask first: should I file direct at gov.uk, or use a formation agent? The answer changes your cost, your speed, your document quality, and your SEIS eligibility. Then it compares the two agents head-to-head across every dimension that matters.

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£50

Companies House direct fee — more expensive than 1st Formations’ £12.99 all-in package which includes the CH fee. Filing direct costs you more and gives you less.

~8%

Companies House direct rejection rate. 1st Formations pre-checks every filing before submission. Effective rejection rate: near zero.

3–6 hrs

Standard same-day electronic processing at both 1st Formations and Rapid Formations (submit before 3pm). Companies House direct: 24–72 hours.

£1,500–4k

Cost of restructuring incorrect formation documents for a SEIS investment round. SEIS-ready Articles at formation via 1st Formations Smart: £52.99.

1M+

UK companies incorporated via 1st Formations since 1994. Most-used independent UK formation agent. 4.9/5 Trustpilot, 8,500+ reviews.

❌ What Companies House direct gives you

• Cost: £50 — the statutory fee for electronic filing. No discount, no agent’s economies of scale.
• Processing: 24–72 hours — the public web portal does not use the same priority channel as registered formation agents filing via direct iXBRL software access.
• Documents: Model Articles only — unsuitable for SEIS/EIS investment without costly amendment.
• Rejection risk: ~8% — name conflicts, common word restrictions, formatting errors. A rejected application means a second £50 fee and another 24–72 hour wait.
• No registered office guidance — your home address appears permanently on the public Companies House register.
• No post-formation support — HMRC registrations, Confirmation Statements, and compliance calendar: entirely your responsibility.

✅ What 1st Formations gives you for £12.99

• Cost: £12.99 all-in — includes the £50 Companies House fee. The agent’s volume relationship with Companies House enables below-cost entry pricing.
• Processing: 3–6 hours — filed via direct iXBRL software channel, not the public web portal. Pre-submission error checking eliminates the rejection risk.
• Documents: Professionally drafted — Certificate of Incorporation, Memorandum, Articles, share certificates, statutory registers — all Companies House compliant.
• Rejection rate: near zero — 1st Formations pre-checks name availability, formatting, and filing completeness before every submission.
• Upgrade path to SEIS-ready Articles — Smart Package (£52.99) adds SEIS/EIS-optimised Articles. Saves £1,500–4,000 in solicitor fees when the first investor arrives.
• Post-formation guidance — knowledge base, HMRC registration assistance, banking referrals, compliance calendar.

Ready to incorporate? 1st Formations: UK Ltd from £12.99 — same-day, SEIS-ready.

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Package	Price	Key Inclusions
Simple ★	£12.99	CH fee included · Model Articles · Electronic Certificate · Digital document pack · Same-day processing
Privacy ★★	£34.99	Simple + 1yr London registered address · Director service address · SAIL address · Year 1 Confirmation Statement · Mail forwarding
Smart ★★★	£52.99	SEIS/EIS-optimised Articles · Enhanced share structure · Subscriber share allocation · Priority processing · Privacy inclusions + 4 document copies
Complete ★★★★	£84.99	Smart + VAT reg · PAYE reg · Corporation Tax reg · Business bank referral · 2yr Confirmation Statements · Bound statutory book

True entry cost vs. Companies House direct: 1st Formations Simple (£12.99) includes the £50 CH fee — you pay £37.01 less than filing direct. Privacy Package (£34.99) adds registered address + director service address + year-1 Confirmation Statement. Smart Package (£52.99): SEIS-ready Articles add £18 over Privacy — the most valuable £18 in this comparison for any startup that may raise investment. Registered address renewal from Year 2: £39.99/year. See our detailed breakdown: 1st Formations Review UK 2026 →

1. SEIS/EIS-Optimised Articles of Association

The Smart Package’s SEIS-ready Articles ensure your company qualifies for SEIS investor tax relief from day one. Model Articles allow preference shares — disqualifying companies from SEIS. Fixing this post-formation costs £1,500–4,000 with a corporate solicitor. At £52.99, the Smart Package is the cheapest SEIS-correct incorporation available anywhere. See: SEIS and EIS Guide 2026 →

2. Central London + Edinburgh Registered Address

Publicly visible on Companies House. London address = professional credibility for international founders. Keeps home address permanently off the public register. 1st Formations also offers an Edinburgh address for Scottish registrations — unique in this comparison.

3. Nominee Director and Nominee Shareholder

A 1st Formations staff member appears on the public Companies House record as director or shareholder. Beneficial ownership is retained via Declaration of Trust. Rapid Formations and Companies House direct offer no equivalent.

4. Non-UK Founder Support

Online identity verification (no embassy visit). Banking referral specifically including non-resident-compatible providers: Wise Business, Airwallex, Tide — all fully online, no in-person visit required. See: UK vs Singapore Company Formation 2026 →

5. Post-Formation Guidance Library

4.9/5 Trustpilot across 8,500+ reviews. Free compliance guides: first Confirmation Statement, when to register for VAT, UK company compliance calendar. Reduces dependence on paid professional advice for standard first-year questions.

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Package	Price	Key Inclusions
Electronic	£12.99	Filing only — no address, no physical docs
Web Inclusion	£29.99	Filing + 1yr registered address
Privacy Package	£49.99	Filing + registered address + service address
Full Privacy	£79.99	Privacy + mail scanning + director service address
Start-Up Package	£119.99	Full Privacy + Confirmation Statement + bank referral + HMRC reg

⚠️ Pricing note: The £12.99 Electronic package is filing only — no address, no documents, no ongoing services. Relevant entry price for a complete formation: £29.99 (Web Inclusion). At Privacy-level: Rapid Full Privacy (£79.99) vs. 1st Formations Privacy (£34.99) — 1st Formations is significantly cheaper at this level. The Start-Up Package at £119.99 vs. 1st Formations Complete (£84.99) — 1st Formations again cheaper.

✅ Choose 1st Formations when:

• You are forming a UK company only
• You may raise SEIS or EIS investment
• You want the lowest UK formation price (from £12.99)
• You need a nominee director
• You want the deepest UK compliance guidance library
• You are a UK-based or UK-first international founder

⚖️ Consider Sleek when:

• You need both a UK Ltd and a Singapore Pte Ltd
• Your primary operations are Singapore-based
• You want a single provider for SEA and UK corporate services
• No SEIS investment is planned

For UK-only formation, 1st Formations is cheaper, faster, has a longer UK track record, and is the only option that configures SEIS-ready Articles. Read the full Sleek review →

Four Structural Decisions

Four Administrative Decisions

⚖️ Scenario 1: UK-Resident Sole Founder, Simple Service Business

Profile: Graphic designer converting from sole trader to Ltd for tax efficiency. No employees, no investment plans, no complex structure.

✅ Scenario 2: Technical Founder Planning SEIS Investment Round

Profile: Technical founder building pre-revenue SaaS. Planning to raise £150,000 SEIS investment from 3–4 angel investors within 18 months.

✅ Scenario 3: Singapore Founder, UK Ltd for Market Entry

Profile: Singapore entrepreneur building a D2C brand or SaaS, wants a UK Ltd for UK/EU market credibility. Plans to raise angel investment within 2 years.

⚖️ Scenario 4: Two Co-Founders, 50/50 Structure, No Investment Plans

Profile: Two physiotherapists forming a joint UK Ltd practice. Both UK-resident, equal 50/50 ownership, want a London registered address. No SEIS plans.

Within 3 Months of Starting to Trade

☐ Register for Corporation Tax (HMRC): File CT41G within 3 months of starting to trade. Failure: £100 automatic penalty.

☐ Open a UK Business Bank Account: Airwallex, Wise Business, Tide — fully online, no in-person visit required for non-UK residents. Best UK Business Bank Accounts 2026 →

☐ Set up accounting software: Xero recommended — Making Tax Digital compliant, strong UK bank feeds. Best Accounting Software UK 2026 →

Within 6 Months of Incorporation

☐ Register for VAT (if applicable): Mandatory when taxable turnover exceeds £90,000 in any 12-month rolling period. Making Tax Digital 2026 →

☐ Register for PAYE (if paying salaries): Register with HMRC before paying the first salary (including director salary). Submit RTI Full Payment Submission on or before each payment date. UK PAYE RTI Guide 2026 →

☐ Appoint an accountant: Annual accounts and Corporation Tax return (CT600) require professional handling for most founders. Basic accountant package: £300–800/year.

Annual Recurring Obligations

☐ File Confirmation Statement: Due within 14 days of incorporation anniversary. Current fee: £34 (online). The most commonly missed UK compliance obligation. Set a calendar reminder from day one.

☐ File Annual Accounts: Due 9 months after financial year end. Requires an accountant for most companies.

☐ Pay Corporation Tax: Due 9 months and 1 day after accounting period end. Estimated total annual maintenance (simple company, no employees): £500–1,300/year including Confirmation Statement, registered address renewal, accountant, and accounting software.

✅ Fully online account opening — no UK visit required

Airwallex accepts non-UK directors and completes identity verification entirely online. No branch visit, no in-person meeting, no UK presence needed. A Singapore, Australian, or US-based director can open a UK Airwallex business account within 1–3 business days of receiving their 1st Formations Certificate of Incorporation.

✅ £0 monthly fees · 0.5% FX markup · 23+ currencies

Airwallex charges no monthly account fee for UK business accounts. FX conversion is charged at 0.5% above the interbank rate — versus 1.5–2% at traditional UK banks. For a company making £100,000 in annual international payments, that difference is £1,000–1,500 per year. Multi-currency accounts hold GBP, USD, EUR, SGD, AUD, and 18+ additional currencies natively.

✅ Xero integration — MTD-ready from day one

Airwallex connects directly to Xero via bank feed — automatically importing transactions for reconciliation. For a newly incorporated company setting up Xero alongside its Airwallex account, this means a fully MTD-compliant accounting setup from the first day of trading.

⚠️ What Airwallex does not offer

Airwallex is not a UK-regulated bank — it holds an FCA e-money licence, not a full banking licence. It does not offer FSCS deposit protection (up to £85,000 per person), overdrafts, or business loans. For companies that need credit facilities or FSCS protection, pair Airwallex with a Starling or Tide account for domestic GBP transactions.

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Growth members unlock the ThriveOnz360 Airwallex deal — £0 monthly fees, 0.5% FX markup. Free to join. See Airwallex deal details →

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Q: Is 1st Formations better than Rapid Formations?

Yes, for most founders. 1st Formations wins at every price level above entry filing: its Privacy Package (£34.99) covers more than Rapid’s equivalent for less. Its Smart Package (£52.99) offers SEIS-ready Articles unavailable from Rapid at any price. Its Complete Package (£84.99) is £35 cheaper than Rapid’s Start-Up Package (£119.99) for equivalent functionality. 1st Formations also has double the operating history (30 years vs 15), more reviews (8,500+ vs 3,500+), and a higher Trustpilot rating (4.9 vs 4.8). The only scenario where Rapid wins is the formation + address entry level (£29.99 vs £34.99 — a £5 difference). For any founder with investment plans, non-UK residency, or nominee requirements, 1st Formations is the clear choice.

Q: What are SEIS-ready Articles and why do I need them?

SEIS (Seed Enterprise Investment Scheme) lets investors claim 50% income tax relief on investments up to £200,000 — making SEIS-funded startups highly attractive to UK angels. To qualify, your Articles of Association must not permit preference shares. Companies House Model Articles — the default at Companies House direct and at Rapid Formations — allow preference shares, disqualifying companies from SEIS eligibility. 1st Formations Smart Package (£52.99) provides SEIS-optimised Articles configured to maintain SEIS eligibility. Fixing Model Articles post-formation costs £1,500–4,000 with a corporate solicitor. See SEIS Guide 2026 →

Q: Can a non-UK resident be the sole director of a UK Ltd?

Yes — UK company law places no nationality or residency requirement on directors or shareholders. A Singapore, US, or Australian national can be the sole director and shareholder. Practical requirements: a valid UK registered office address (both agents provide this), online identity verification (1st Formations handles this without UK travel), and a UK business bank account (digital-first banks — Wise Business, Airwallex, Tide — provide fully online opening without in-person visits). 1st Formations provides specific non-UK founder guidance and banking referrals including non-resident-compatible providers. Rapid Formations’ non-UK founder support is less comprehensive.

Q: What is the difference between a registered office address and a director service address?

Registered office address: The company’s official address for all statutory correspondence from Companies House and HMRC. Publicly visible on Companies House. Director service address: Each director’s address as recorded on Companies House — by default their home address, publicly visible. A service address replaces this with the agent’s address. Both addresses are separate and distinct — often confused. A sole director needs both: registered office for the company and service address for themselves as an individual. 1st Formations Privacy Package and above include both. Using Companies House direct means your home address is permanently public.

Q: Can I use Airwallex as my business bank account after incorporating via 1st Formations?

Yes — Airwallex is one of 1st Formations’ recommended banking partners specifically for non-UK residents and founders who make international payments. After receiving your Certificate of Incorporation, you can apply for an Airwallex UK business account entirely online — no UK visit required. You will need your Certificate of Incorporation, Company Number, director passport, and registered office address. Approval typically takes 1–3 business days. Airwallex provides GBP, USD, and EUR accounts at £0 monthly fees with 0.5% FX markup — significantly cheaper than traditional UK banks on international transfers. It connects directly to Xero via bank feed for MTD-compliant bookkeeping from day one. See our full Airwallex UK review →

Q: How long does UK company formation take?

Electronic filing via Companies House processes within 3–6 hours on a working day when submitted before 3pm. Both 1st Formations and Rapid Formations file electronically by default via direct iXBRL software access — achieving 3–6 hour processing consistently. Companies House direct: 24–72 hours for electronic submissions via the public web portal. Postal filing: 8–10 working days. The “Rapid” in Rapid Formations is historical positioning — there is no current processing speed advantage over 1st Formations. For urgent incorporations, submit before 2pm to give a buffer before the 3pm processing window.

Q: What is the true annual maintenance cost of a UK Ltd company?

Mandatory: Confirmation Statement £34/year + annual accounts preparation £300–800/year (accountant) + Corporation Tax return (often bundled with accounts). Common additional: Registered address renewal £39.99/year + accounting software £120–300/year (Xero, QuickBooks, FreeAgent). Total estimated for a simple company, no employees: £500–1,300/year. A straightforward UK Ltd can be maintained professionally for under £1,300/year. Best Accounting Software UK 2026 →

Q: Should I incorporate in the UK or Singapore?

The decision depends on where your primary markets, customers, and banking relationships are. UK incorporation gives access to UK and European markets, UK banking, and the SEIS/EIS tax incentive framework for raising investment from UK angels. Singapore incorporation gives access to Southeast Asian markets and a simpler compliance structure. Many international founders incorporate in both. For the UK formation side, 1st Formations is the recommended service. UK vs Singapore Company Formation 2026 →

Q: Is filing direct at Companies House ever the right choice?

For the vast majority of founders: no. Companies House direct costs £50 (vs. £12.99 at both agents), takes 24–72 hours (vs. 3–6 hours), provides only Model Articles with no SEIS configuration, carries an ~8% rejection risk, and offers zero post-formation guidance. The only scenario where direct filing makes sense: you are a qualified accountant or company secretary filing for a client with bespoke solicitor-drafted Articles that no formation agent can accommodate.

Q: Is 1st Formations or Sleek better for UK company formation?

For UK-only formation, 1st Formations is the stronger choice: cheaper entry price (from £12.99 all-in vs Sleek’s bundled pricing), 30 years of UK-specific track record versus Sleek’s Singapore-first focus, SEIS-ready Articles available at £52.99 which Sleek does not offer, and nominee director services unavailable through Sleek. Sleek becomes the better option if you need both a UK Ltd and a Singapore Pte Ltd incorporated through a single provider — Sleek’s Singapore formation capability is its genuine strength. For UK-focused founders or international founders forming a UK entity only, 1st Formations wins on price, SEIS capability, and depth of UK compliance guidance. Read the full Sleek review →

❌ Companies House Direct — Avoid for Almost Everyone

More expensive (£50 vs. £12.99), slower (24–72 hrs vs. 3–6 hrs), worse documents (Model Articles only), higher rejection risk (~8%), no registered address guidance, no post-formation support. Only suitable for qualified professionals filing with bespoke solicitor-drafted Articles.

✅ 1st Formations — Best for the Vast Majority of Founders

Wins on every dimension beyond entry price: SEIS-ready Articles, non-UK resident support, nominee services, investment-ready structures, deeper post-formation guidance. Cheaper than Rapid at every level above entry filing. Choose 1st Formations if: you plan SEIS/EIS investment, you are a non-UK resident, you may want nominee services, or you are at any Privacy package level.

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⚖️ Rapid Formations — For Simple Entry-Level Formations Only

Credible alternative when the formation is genuinely straightforward: UK-resident sole director, no SEIS plans in the next 3 years, no nominees needed, and you want the cheapest formation + address package (£29.99 — £5 less than 1st Formations). Do not use Rapid Formations if: you may raise SEIS investment, you are a non-UK resident, or you need nominee services.

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