Buy a UK Business With History For £1
Companies For Sale
3 Easy Steps
For Only £1 Own Your UK Company in Minutes
01
Choose a company from our listings
We have dozens of companies for sale for the nominal sum of £1
02
Fill in the short form & sign your online agreement
Standard UK Companies House forms
03
The Company is now yours!
Now you can turnaround, trade, or even sell on your company
Why Buy a Company for £1?
Benefits to buying an existing UK company
Who Benefits from buying an existing UK company?
Frequently Asked Questions
Does Businessforapound.com own these companies?
No, Businessforapound.com is only a platform for owners of UK companies to sell to a new owner. We are simply a listings site providing this service.
Am I buying a company from Businessforapound.com or direct from the owner(s) of the company?
Businessforapound.com is simply a marketplace for buying/selling UK companies. We do not carry out due diligence on companies offered for sale on this site other than check the UK public records to ensure that the information provided by the seller is correct. Buyers are advised to carry out their own due diligence before purchasing a company.
Do I get any guarantee with the company when I buy it?
There are no guarantees with a company for sale for £1 which is why the very low price in return for some potential risk - see below.
However, we do guarantee that the seller is the registered owner according to the current UK Government register at Companies House at the time of listing. All companies for sale are vetted in so far as the ownership, co registration no, registered address and filing claims (accounts up to date etc) are correct according to the listing on Companies House.
To whom do I pay the £1?
The payment of £1 is a nominal sum for the transfer of shares. Payment can be made to the seller of the company, but never direct to BFAP. In practice most sellers do not require the actual payment of the £1 as it is merely a nominal figure.
What happens to the liabilities of the company when I buy it?
The company will still be liable for the debts accrued before the sale. However in many cases the seller will have a personal guarantee over some of the creditors debts. In this case the creditors will be able to pursue the previous owner for the outstanding liabilities.
Am I personally liable for the debts of the company?
No, the company is liable for the debts but not you personally (unless you specifically take on new liabilities once you are the owner. This is not something we would advise you do!
What kind of paperwork is involved in the purchase?
You will be using standard UK Government Companies House forms to transact the sale and purchase. All the ‘paperwork’ takes place via our platform and is online with digital signatures. The process takes about five minutes to complete.
Does the company really have a greater value than £1?
Most of the companies we market for owners have some kind of assets, often intangible and as such insolvency practitioners would not be able to value them for a sale. These can include elements like social media followers, IP, trading names, client and customer lists, contracts with existing suppliers that may be territory specific to the UK. International sellers on ebay and Amazon can also benefit from a UK registered entity.
The value of the business may also include the bank account(s) attached to the business. As it gets harder for business owners to open new account for newly registered companies, buying an existing business for £1 can be a surefire way to access the UK infrastructure.
What kind of filing requirements are there for a UK company?
All the information you need can be found at Companies House website. You will have the log in codes for your new company in order to make filing returns simple online. You can also employ the services of a chartered accountant but this is not compulsory.
Who benefits from buying a ‘used’ company like this?
We have many international buyers who want instant access to the UK infrastructure. For sellers on platforms like eBay and Amazon having a ‘seasoned’ company has a value far in excess of the £1 paid or the time taken to deal with the company’s creditors if there are issues.
Can the company’s creditors chase me for the debts of the company?
No, as long as the debt is historic (before you bought the company) and you do not agree to personally guarantee any new debts.
Can the seller chase me for money after I buy the company?
No. You have zero liability to the seller of the company. The seller will be agreeing to sell for £1 in order to remove their own personal liability and to allow the company to have a ‘second life’ with a new owner.
Can I a company be the owner of a £1 company?
Yes, you can buy a company using an existing company entity. You can be incorporated anywhere in the world. It does not have to be a British company. However, you will need to have a person as a Director of the target company alongside any corporate entity you choose.
How do I change all the information on the company’s register?
You will be given the company’s access codes to Companies House filing. You can create a free account with Companies House here in order to log in with your UK company’s access codes.
Our Services
We offer used UK corporations for sale. Buying a used corporation is fast and easy, and way cheaper than using a formation agent. All companies may come with some or all of the following:
• Seasoned trading history
• Most companies come w/ added value
• Customer lists
• Bank accounts already in place
• Existing clients
• Service agreements
• Software licenses
• Social Media Followers
• Existing website or online footprint
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