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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
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Expert Contractor Accounting from Only from £75/mo
Dedicated 1-on-1 accounting support for contractors and consultants from £75/mo. Set up a new limited company or switch accountants, optimize your take home pay, get IR35 advice and all your company filing sorted.
Contractor resources
We explain which contractor segment you might fall into. We walk through IR35 and the implications for you and how you may fall inside or outside of IR35.
- What is a contractor
- Types of contractors
- Contractor business structures
- Contractor accounting
- Understanding IR35
- Contractor insurance
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Book a free 20 minute call with an accountant to talk though starting, registering or switching your company.
- Book a time online instantly
- Registering for VAT
- Self assessment
- Sole trader vs limited company
- Dividends and personal tax
- Registering your company
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