If your income for the year is £30k or more and you intend to work on contracts for longer than three months then the positives will ordinarily far outweigh the negatives.
The positives
- There are significant tax savings to be made.
- You are in control of your own finances.
- The daily rates that you can command through a limited company generally exceed salaried options.
- You are your own boss when working through a limited company.
The negatives
- A small amount of admin and bookkeeping is required.
- With a limited company come various directors’ responsibilities, such as filing your accounts and company tax returns on time.
- Obtaining finance can be more difficult in the early days, but not impossible.
The positive aspects of a limited company are elements that you will benefit from personally whilst the negatives are something that a good accountant can help you with to the point where they do not take up much of your time at all. For more information on working through a limited company contact us.
Why choose Integro Accounting?
Integro Accounting provide a fixed fee accountancy service to contractors, freelancers and small business owners. Integro accounting was founded on the word integrity. Clients rate us 5/5 on Google and we pride ourselves on building a completely transparent and personal relationship with our clients. Our all inclusive packages include:
- Fixed-fee pricing – no hidden charges, one comprehensive package.
- Your own dedicated accountant – an expert accountant with you every step of the way.
- Unlimited face to face meetings – face to face and virtual meetings available across the UK.
- Award winning accountancy software – a FreeAgent licence provided to all clients.
Speak to one of our expert accountants today on 0207 0962659 for more information on how we can help you.