A limited company is the most common form of business structure. It’s a legal structure whereby the shareholder is protected from any liabilities the company may incur. Meaning it’s a separate entity for income tax and legal purposes from its shareholder(s) and director(s).

Limited companies in the UK are governed by the rules and regulations contained in the Companies Act 2006, and all company registration and records are managed by Companies House.

If you’re looking to set up your own limited company, or are simply looking for a new limited company accountancy service, then UberPayroll can help.

Why go Limited?

Going into business for yourself provides for a much more tax efficient means of working.

More money in your pocket

If you don’t mind some additional paperwork, managing your company’s financial affairs and plan on contracting for the long term then forming and operating your own

Limited Company can make a significant difference to the amount of cash that ends up in your pocket each year.

Rather than being employed by an Umbrella Company you form your own company and become both a Director and a Shareholder of that company. You can then

pay yourself a Director’s wage, vote dividends and claim your legitimate expenses back from the company all according to the up to date financial information your accountant provides.

It may all sound complicated but we’ll guide you every step of the way and make sure you understand what it means to be a company director, what needs to be filed when and when to pay your company and personal taxes.

An important consideration before thinking about going down the Limited Company route is to think about if your contract falls inside IR35. If you’re unsure regarding what that means and how it affects you then pop over to our Legislation section for more information.