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Let's compare the advantages and drawbacks of setting up a limited company VS working through an umbrella company.
Why set up a limited company?
- Limited liability
- Tax efficiencies
- Increased credibility
Why not set up a limited company?
- Increased legal and administrative requirements
- Less privacy; details of the company are publicly available
Why work through an umbrella company?
- Ease of use
- Flexibility
- Entitled to statutory benefits
Why not work through an umbrella company?
- Costly way to operate
- Lack of control
Let’s compare the advantages and drawbacks of setting up a limited company VS working through an umbrella company.
Why set up a limited company?
- Limited liability
- Tax efficiencies
- Increased credibility
Why not set up a limited company?
- Increased legal and administrative requirements
- Less privacy; details of the company are publicly available
Why work through an umbrella company?
- Ease of use
- Flexibility
- Entitled to statutory benefits
Why not work through an umbrella company?
- Costly way to operate
- Lack of control
Limited company accountants
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