How to get a company formation with a free business account

Starting your own business can be exciting, but there’s a lot to get your head around before you can even make your first sale. From registering your business with Companies House to sorting out your business banking, those early days can feel overwhelming.

But some providers aim to simplify the process by offering both company formation and a business account in one place. Here’s what you need to know.

How bundled company registration and banking works

If you’re setting up a limited company, you’ll need to register it with Companies House before you can start trading. You’ll also need to open a business bank account.

Although you can arrange these tasks separately, some providers offer a free business account with company formation included, meaning that eligible businesses can get both jobs done through one provider.

If you register a limited company directly with Companies House, the standard digital incorporation fee is £100 (increased on 1 February 2026; postal paper filings cost £124 and same-day digital costs £156). On top of that, commercial formation agents typically charge £100 to £120+ for basic digital formation packages.

Bundled providers subsidise this statutory cost. If you register through Tide, for example, they submit your company registration to Companies House and open your starter business account for a one-off fee of £14.99 – saving you £85 compared to the direct government fee.

To get started, you’ll need to check if your proposed company name is available, provide details of your company and its directors and shareholders, and complete the relevant identity checks. Your formation application is then submitted to Companies House and your bank account application will be processed at the same time.

You could get your certificate of incorporation within as little as 1 day, with your business bank account set up too, so you can tick 2 important tasks off your to-do list.

What’s included with a business account?

A business bank account lets you manage your everyday business transactions, from receiving payments from customers to paying suppliers and business expenses.

Keeping your business and personal finances separate is important because a limited company is a separate legal entity from its owners. A dedicated business account helps you track cash flow, keep accurate tax records, and ensures your funds are properly protected.

If your provider holds a UK banking licence (such as Starling Bank, or Tide which is an FCA-authorised e-money institution, and its accounts are powered by ClearBank, which holds the licence), eligible business deposits are protected by the Financial Services Compensation Scheme (FSCS) up to the statutory £120,000 limit. Because a limited company is a separate legal entity in law, this £120,000 FSCS protection applies directly to your business, completely separate from any personal savings or current accounts you hold with the same banking group.

Most business bank accounts allow you to carry out transfers and set up direct debits and standing orders. You might also get a debit card for business expenses, and be able to make international transfers and cash deposits.

Some accounts come with additional features to help make setting up and managing your business that bit easier. Tide and Starling, for example, offer invoicing tools and accounting software integrations, which can help you issue and track invoices, and manage your tax bills, saving you time.

However, as some business accounts have different plans, it’s important to check exactly what’s included in the free plan, as some features may only be available with those that charge a monthly fee.

What’s included with company formation?

If you choose a business account that offers company formation as part of the package, you may also receive the documents needed to register your company.

Tide’s company formation package includes a certificate of incorporation, memorandum and articles of association, share certificates and company register documents. The service also includes PAYE registration with HMRC.

What’s more, if you’re feeling a little uninspired when it comes to choosing your business name, Tide offers a business name generator to help you find a name that suits your brand and hasn’t already been used. Tide’s service also features free co-director registration and a full fee refund if Companies House rejects your application.

How to choose a provider that offers both

Choosing a provider that offers company formation and business banking in one place can save you time and effort, allowing you to organise both as part of the same process. But it’s also worth comparing what else is on offer before deciding:

Business account fees

Keeping banking fees to a minimum is likely to be a priority when you’re just starting out. Business accounts such as Tide, Starling and Monzo, all offer plans with no monthly fee, but you should check whether fees apply for transactions such as bank transfers, cash withdrawals, and direct debits.

Company formation costs

Check exactly what’s included in the upfront company formation fee, such as registration with Companies House and the documents you receive.

Account features

Consider if you need tools such as expense management, invoicing, accounting integrations and international payments, and whether these are included in the free account.

Account management

If you’re choosing a digital business account, are you happy banking completely online or through an app? If you deal with physical money, check what deposit networks are supported. Tide’s free account, for example, supports cash deposits at both Post Office branches and PayPoints, as well as digital deposit of GBP cheques directly in the app.

How do you apply?

The quickest way to apply is usually online or via the provider’s app. If you’re using a service that offers company formation too, you may be able to complete the registration and account application through the same process.

Before you apply, gather your identification and the details you’ll need about your company and its directors to make the process easier.

Provide your personal and company details

Provide your personal and company details
This includes your proposed company name, registered office address, and the personal details (full name, nationality, date of birth, and home address) of every director and Person with Significant Control (PSC) – usually anyone holding more than 25% of the company’s shares or voting rights.

Under UK company law, your registered office must be an ‘appropriate address’ that can receive and acknowledge official post (a standard PO Box is not permitted). While Companies House keeps your residential address on a confidential register by default, your company’s registered office address and directors’ service addresses are publicly searchable on the Companies House register forever.

If you trade from home and don’t want your domestic address published online, some providers, including Tide, offer a paid virtual business address service. This allows you to use a professional address (such as Central London) on the public register for official statutory mail, keeping your home address completely private.

Complete identity checks

Under UK company law, company directors must have their identity verified before incorporation documents can be filed, with PSCs required to verify shortly after (if a PSC is also a director, they are verified upfront). While you can verify for free via the GOV.UK ID Check app, providers like Tide are Authorised Corporate Service Providers (ACSPs), meaning they can verify your identity directly on Companies House’s behalf during the application.

Providers will need you to verify your identity and may ask for documents or additional information. For proof of identity, you might need to provide a photo of your passport, national ID card or UK driving licence.

You might also need a photo of a mortgage statement, solicitor’s letter, UK driving licence, bank statement, council tax bill or utility bill for proof of address.

Submit your application

Once you’ve provided the required details, submit your company formation application and business account application. The provider will process this information and submit your formation application to Companies House.

Wait for confirmation

Once Companies House approves your application, your company will be incorporated and you’ll receive your certificate of incorporation. Your account provider will confirm when your business bank account is open and ready to use.

Keep all of your documents and account details safe as this will help you with company administration, including filing accounts.

Eligibility requirements

Eligibility criteria vary between providers, so check these before applying. Typically you’ll need to be at least 18 years old and a UK resident.

You should also check if your provider accepts your type of business and whether there are any turnover requirements. If you have overseas directors or a more complex ownership structure, check whether you can still apply.

Keep in mind that registering a company with Companies House and getting a business bank account are separate processes. Meeting the requirements for incorporation doesn’t guarantee a bank will approve your account application.

Frequently asked questions

How long does company registration take to get approved?

Companies House typically incorporates a UK limited company within 24 hours for digital applications, provided there are no naming conflicts or identity queries.

Can a non-UK resident or foreign national register a UK company?

Yes, a non-UK resident or foreign national can register a UK limited company in many cases. Directors of limited companies usually need to have a valid address in the UK or overseas.

Can a single individual serve as both the sole director and 100% shareholder?

Yes, a private limited company can have one person who acts as its sole director and owns 100% of its shares. You don’t need to appoint another director or bring in additional shareholders to set up a company limited by shares. However, you will still need to meet your legal responsibilities as a company director.

You can find out more on the gov.uk website.

Can I apply for and open a business bank account before the company is officially incorporated?

You may be able to start an application before your company is officially registered, depending on the provider. However, you will generally need your company to be incorporated before the account can be fully opened in its name.

Some providers, including Tide, offer company formation with a bank account, allowing you to begin both processes at the same time.