Positives and negatives of a limited company

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As is often the case, there are positives and negatives to running your own limited company. If your income for the year is £25k 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 Integro Accounting?

Integro Accounting is the UK’s only specialist provider of fixed fee, limited company accountancy services for contractors, consultants and freelancers that was established to an award winning standard – our Practice Manager, Maria Hickmott FCCA, won The British Accountancy Awards’ ‘Accountant of the Year’ in 2011.

We were set up with the vision of providing a service that is the ultimate for the dynamic, busy professional of today in a language you understand.

Integro Accounting have designed a bespoke service for the contractor who is always on the go; never forgetting that one size will never fit all.

The relationship you have with your accountant is the most important factor in our service which is why we will always offer unlimited contact with your own personal accountant; whether that contact is via the phone, email or face to face.

We have our 3 offices located in London, the South-West and on the Bedfordshire and Buckinghamshire border. There are also meeting locations in many of the major cities and towns across the Home counties, South-West and South Wales, all conveniently placed so that you never have to travel far to meet your accountant.

If you have any questions about contracting or would like to find out more about how Integro Accounting can help you and business please call Christian on 01525 303984, email christian@integroaccounting.com or request a callback.