Which type of business structure should you use? A basic overview of how limited and umbrella companies work, and some of the pros and cons of using each stucture.
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.
- 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 more in-depth guides to setting up and running a limited company, visit LimitedCompanyHelp.com.
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.
When you register a company in the UK, once your application has been processed and approved, Companies House will send you a formal certificate of incorporation.
If you decide to set up a limited company with other people – either for contracting purposes, or to run another type of business, how do you ensure that all of your shareholders (including yourselves) are protected in case something goes wrong? A well-drafted shareholders’ agreement might be the answer.
One of the main attractions of contracting via your own company is that the liability of its shareholders is limited. So, to what extent is the liability of company directors limited?
Why recruitment agencies and end-clients are unlikely to hire contractors who do not work via either a limited or umbrella company structure.
Many IT contractors work via their own limited companies. There are a number of benefits to incorporating; we look at how the formations process works, and what it means to be a limited company director.
If you decide to start trading via your own limited company, you may at first be put off by the perceived ‘hassle’ associated with being running the company, and becoming a director. However, if you hire a reputable accountant and undertake some basic administrative tasks, you should find that you can manage your company’s affairs […]
If you have decided to trade via your own limited company, you have to submit an application to Companies House, the registrar of companies. Here, we’ve listed 10 bits of information you need to collect in advance to ensure your formation can be processed correctly first time.
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.