Setup a single parent company structure for your own products and agency services - Done Once
Last updated: 23rd May 2025
This page covers PARENT COMPANY setup - done ONCE to create your business entity.
Company registration is only necessary in two specific scenarios:
or
For beginners learning to code, you can skip company setup while building practice projects with Titan. Focus on building products first, and only register a company when you have a working product that’s been tested and is ready to accept payments, or when you’re ready to start agency work.
After completing parent company setup, each individual product you build (whether for clients or yourself) will follow the MVP Development Process.
Your parent company serves as a single business entity that can handle:
Your Own Products
Agency Services
Key Principle: One parent company → Multiple products/projects. Each product gets its own domain, branding, and setup process, but operates under your single legal entity.
Here’s a comprehensive breakdown of all costs involved in setting up and maintaining a UK limited company:
| Expense Type | Standard Cost | DIY Method Cost | Payment Frequency | Notes |
|---|---|---|---|---|
| Company Registration | £69.99 (Companies Made Simple) | £50 (Register directly with Companies House) | One-off | Basic registration without privacy protection is just £50 |
| Confirmation Statement | £34 (online) / £62 (paper) | £34 (online) | Annual | Required filing to confirm company details |
| Business Bank Account | £0-£7.50/month | £0 (Tide, comes free with Companies Made Simple package) | Monthly | Free Tide account included with privacy package |
| Accountant | £800-£1,500/year | £0 (Self-filing) | Annual | DIY accounting software: £10-30/month |
| Corporation Tax | 19% on profits | 19% on profits | Annual | Only payable if your company makes profit |
| VAT Registration | £0 | £0 | N/A | Only required if turnover exceeds £89,000 |
| Voluntary Dissolution | £44 (paper) | £33 (online) | One-off | Cost to close your company if needed |
DIY Cost-Saving Tips:
Don’t worry! If you want to close your company later for whatever reason, for a one-person company, closing down is simple:
Online Application: Apply online at Companies House to strike off your company - costs just £33.
Quick Checklist:
Timeline: After application, Companies House publishes a notice. If nobody objects within 2 months, your company is dissolved.
That’s it! No complicated liquidation process needed for a simple one-person company with no debts.
This page was last updated on: 2nd May 2025
Setting up a single company that can function both as a product business and as an agency is the smartest approach. We’ll go through a comprehensive timeline for setting up such a structure, with specific guidance for UK-based founders (You will have to set up something similar for your own jurisdiction if you live outside the UK).
Buy Your Company Domain
Purchase a domain for your parent company (not individual products).
Examples:
Recommended registrars: Namecheap or Porkbun
This domain is for your company’s main website and email. Each product you build will get its own separate domain during the MVP Development Process.
Setup Company Email
Establish professional communication channels for your parent company operations:
Company Email Setup Setup with Google Workspace - Tutorial. It’s £6/email/month.
Required Company Email:
Additional Emails (create after company registration):
Important: This Google Workspace setup is for your parent company operations only. Each product you build will need its own email setup during the MVP Development Process, whether it’s for clients (agency work) or your own products.
Register Your Parent Company
Now that you have your company email setup, register a single parent company that will house both your own products and agency services.
This dual-purpose structure allows you to:
Use the Privacy Package from Companies Made Simple (GBP 69.99 one-off including GBP 50 Companies House fee) which provides:
Choose a company name that’s broad enough to accommodate both your product business and agency services. Avoid names that pigeonhole you into a specific niche. Examples: “TechCorp Solutions Ltd”, “Digital Innovations Ltd”, “CodeCraft Technologies Ltd”
Setup Business Banking
Establish a business bank account to keep your finances separate from personal funds. This will come with the above privacy package.
Tide’s free tier (Pay As You Go plan) is sufficient for startups:
Strictly separate business and personal expenses from day one - this simplifies accounting, tax compliance, and makes your business more credible to clients and investors.
Cost: £0 for now
Tax Registration and Compliance
If your company will be actively trading, register with HMRC within 3 months of starting business activity:
For very small businesses (e.g., less than GBP 100/year), DIY filing is straightforward and can save GBP 800 to 1,500/year on accountant fees. Consider hiring a professional accountant only when your revenue grows significantly.
Agency Contract Templates (Optional)
This is optional and can be skipped for now unless you’re starting agency work immediately. Focus on your own products first.
Set up professional contract templates for your agency/freelance services. These contracts are essential for:
Software Development Agreement (when working through your company)
Service Agreement (for ongoing relationships)
Use this contract as a template (tweak as you see fit): https://www.pandadoc.com/software-development-agreement-template-uk/
Always include intellectual property (IP) clauses that clearly transfer ownership of code and assets to the client upon final payment. For agency work, this ensures your client owns what they’ve paid for. For your own products, you retain all IP.
Always have your contracts double-checked by a legal professional to ensure they provide adequate protection for your specific situation and comply with local laws. The cost of proper contracts is minimal compared to the potential costs of disputes or intellectual property issues.
Setup Company Payment Processing
Establish payment systems for your parent company:
For Agency Services
For Your Own Products
Setup Stripe for your company - Tutorial
Essential Stripe configuration:
Your company Stripe account can handle payments for multiple products and client projects. Each will be tracked separately for accounting purposes.
If you plan to do agency work, understand these key principles:
What Clients Must Provide for Agency Projects:
Critical: For agency projects, clients should ideally own and control all third-party services. This ensures clean handover and avoids billing/ownership complications.
Client Must Setup & Own:
Client Must Provide to You:
Your Agency Provides:
For Agency Projects:
For Your Own Products:
Your parent company is now set up. Each product you build (whether for clients or yourself) will follow the MVP Development Process, which covers product-specific setup like domains, branding, and service configuration.
Remember: Parent company setup is done ONCE. Product development setup is done for EACH product you build.