Many freelancers become sole traders when starting out in business, seeing this as the right option for them at the time. What happens if you want to form a company in the future?
Business Structures - Limited Company
Most professional contractors work via their own limited companies. It remains the most tax-efficient business structure, despite recent increases in dividend tax and Corporation Tax.
Company directors have more paperwork and legal obligations than umbrella company contractors, but 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
How much does it cost to set up a limited company in the UK?
You can form a company via Companies House, hire an accountant, or use a company formation agent. How muct does each option cost?
Does a limited company need a separate bank account?
If you incorporate a new limited company for contracting, do you have to set up a separate bank account?
Running a limited company – what is a confirmation statement? [2025 guide]
How to file a confirmation statement and what information you have to provide, including details about any “People with Significant Control” (PSCs).
Limited companies – what are SIC codes used for?
A Standard Industrial Classification (SIC) code is used to identify the business activity of your company, such as ‘Information technology consultancy activities.’
Limited or Umbrella Company – which is best for contractors?
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 in 2025 – 10 essential steps
If you want to set up a limited company in 2024, here are ten essential things you should know in advance.
Failing limited companies must be on guard for militant creditors
This year’s peak of PSCs going to the wall may have passed. But creditor patience and HMRC understanding are also now things of the past.
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 ‘service address’ concept affords privacy to individuals who wish to keep their residential address private.
Limited company shares and shareholders – what are your rights and responsibilities?
If you work through a limited company, you’re not the business, even if you’re the company’s sole owner. But how do shares work, who can be a shareholder, and what are your rights and responsibilities?
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