Contracting through your own Limited company is the most tax efficient way of working meaning that you can take home more of your hard earned money, any accountant or tax expert will tell you this. But isn’t it a lot of hassle managing your own Limited company?
Well we won’t lie, using an umbrella company is the simplest option.
However, you might be surprised at just how little extra work there actually is managing your own Limited company. Other than sending a few cheques
Contracting through your own Limited company stands out as the pinnacle of tax efficiency in the professional landscape. It’s a route that allows you to retain a larger portion of your earnings, a fact underscored by any reputable accountant or tax expert. But is the administrative burden of managing your own Limited company truly worth it?
Let’s dispel a common misconception: while opting for an umbrella company might seem like the easier path, the reality is that managing your own Limited company isn’t as daunting as it may initially appear. In fact, the additional responsibilities often amount to little more than a few routine tasks. With the guidance of your dedicated LDF Accountancy Services Ltd accountant, you’ll find that the process is streamlined and manageable. From handling periodic payments to HM Revenue and Customs to issuing invoices and maintaining basic financial records, the additional workload is often minimal. In fact, many of our contractor clients report spending as little as 15 minutes a month on these tasks.
So, how does one go about forming a Limited company? It’s simpler than you might think. Once you’ve made the decision to contract under your own Limited company, the next step is to initiate the formation process. With LDF Accountancy Services Ltd, this can be accomplished swiftly and seamlessly via email, taking only about 5 minutes of your time. From there, our team takes care of the rest, ensuring that your company is fully established within approximately 2 or 3 working days. All you need to provide is a desired company name, and we handle the rest, including necessary documentation and assistance with setting up your company bank account.
Moreover, we take care of the essential company PAYE and VAT registration processes, alleviating you of these administrative burdens. When it comes to structuring your company, we provide guidance on directorship details, shareholder allocations, and other pertinent matters. Additionally, for your convenience, we offer registered office services, managing your business mail so you can focus on what matters most—running your business.
Now, let’s address the financial aspect. Forming your company through LDF Accountancy Services Ltd comes with a transparent and competitive cost structure. Our all-inclusive fee of £150 plus VAT covers not only the formation process itself but also crucial elements like VAT and PAYE registration. While you may encounter cheaper alternatives online, they often lack comprehensive support and may tack on hidden fees down the line. Beware of enticing offers for free company formations, as they frequently come with long-term commitments that can ultimately prove costly.
Choosing LDF Accountancy Services Ltd for your company formation needs ensures peace of mind and accessibility. Our team is readily available to assist you every step of the way, providing personalized support tailored to your unique circumstances. However, it’s important to note that you’re not obligated to form your company through us; you have the freedom to do so anywhere. Our online formation service covers all legal requirements, allowing you to commence trading as a Limited company with confidence and clarity.
In summary, contracting through your own Limited company offers unparalleled tax efficiency and financial flexibility. With LDF Accountancy Services Ltd by your side, the process is straightforward, cost-effective, and supported by a team of experienced professionals dedicated to your success. Unlock the full potential of your professional endeavours—form your Limited company today.
