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?
Limited Company Guides
Explore our essential guides to setting up and running a limited company.
A limited company is one of the most popular ways to run a business in the UK. It offers a clear separation between the company and its owners, which can provide both tax advantages and legal protection.
Many professional contractors also use limited companies, but the structure is equally common among small business owners of all kinds.
While directors take on extra legal responsibilities compared with sole traders or umbrella company workers, most of the routine administration can be handled by a specialist accountant.
Start here
- If you only have 5 minutes, read 10 steps you need to take to set up a limited company + FAQs
- How much does it cost to set up a limited company?
- Limited vs umbrella – advantages and disadvantages of each business structure
- More detailed guides on LimitedCompanyHelp.com.
How to close or pause your limited company (including career breaks)
Thinking of taking a career break from contracting? Find out what to do with your limited company – strike off, MVL, or make it dormant until you are ready.
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.’
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 for company directors (and why it matters)
The ‘service address’ provides a way for individuals to keep their residential address private and separate from their Companies House record.
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.
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.