There may be good reasons why you want to set up a company, but not necessarily trade for the time being. You may decide to take a break from contracting, but keep your company ticking over. This is where the concept of a dormant company comes into play.
Business Structures - Limited Company
Most professional contractors work via their own limited companies. It remains the most tax-efficient business structure, despite the April 2016 dividend tax hike.
Company directors have more paperwork and legal obligations than umbrella company contractors, but in reality, a specialist accountant can take care of these administrative duties for you.
- If you only have 5 minutes, make sure you read 10 things you should know before setting up a limited company
- How much does it cost to set up a limited company?
- Limited company basics - how to set up a company, and the responsibilities you have as a director
- Limited vs. Umbrella - find out more about the advantages and disadvantages of each business structure
- For in-depth guides to setting up a company, try Limited Company Help
Register a limited company - from £10.95
For a wide section of incorporation pacakges, visit Clever Formations
PROOF scheme – extra protection for limited company owners
The PROOF scheme, aka the Protected Online Filing scheme, is a free service provided by Companies House to help protect limited companies from potential fraud.
Setting up a company – what are Model Articles of Association?
When incorporating a new UK private limited company, directors must register Articles of Association with Companies House. These Articles set out the company’s internal governance ‘rule book’. Here we explain what the Model Articles contain, and answer some common contractor FAQs.
Limited company basics for contractors
Many IT contractors work via their own companies. We look at how the formation process works, and what it means to be a limited company contractor.
How much ‘hassle’ is involved in running a limited company?
If you’ve chosen to set up as a limited company contractor, how much admin work will you have to undertake? In truth, there’s not as much ‘hassle’ as you might imagine, especially if you hire a good accountant.
Limited or Umbrella Company – which is best?
Limited or Umbrella Company? We look at the pros and cons of each type of business structure. Which is the best route for contractors?
Setting up a limited company – 10 essential steps to take
If you want to set up a limited company in 2023, here are ten essential things you should know in advance.
What is a service address if you’re a limited company director?
Companies House maintains data about all UK limited companies, including the home addresses of company directors. The concept of the ‘service address’ affords privacy to individuals who wish to keep their residential address private.
How much does it cost to set up a limited company?
There are several ways to set up your own limited company. Use an accountant, a company formations agent, or go direct via Companies House. Here are the typical costs associated with each option:
Choose a name for your limited company – the basics
How to choose a professional, unique name for your company. We look at the rules and regulations which govern company naming, and why contractors may benefit from securing a matching web address.
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