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?
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
Limited company contractor basics – how to get started
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.
March 2024 Companies House changes contractors should know about
New rules to combat fraud and improve the integrity of the Companies House database come into effect in March 2024. New guide for limited company directors.
Keeping your limited company in a dormant state – a guide for contractors
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.
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.
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.
Why it is hard to secure contract work as a sole trader
Why recruitment agencies and end-clients are unlikely to hire contractors who do not work via either a limited or umbrella company structure.
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.
What is a company secretary, and do I need one?
Company secretaries are usually appointed to help directors complete their statutory duties and carry out other tasks relating to corporate governance.