How to set up your Limited Company
If you’re ready for a change in the way you work, today is a good day to get started. Maybe you’ve been in permanent employment all your life and want to get more for your skills; or perhaps you’re already contracting but aren’t getting the most through your current arrangement via an Umbrella or agent. Or are you a student approaching graduation and prefer the idea of being your own boss instead of getting stuck into the 9-5 daily grind?
As a contractor you can:
- keep more of your earnings
- be your own boss
- control how, when and where you work
- decide who you work for and how
There are already 4.7 million self-employed workers in the UK right now. Everyone will have different motivations for going into contracting and for those looking on with envy, quite often the only thing stopping them is…themselves.
Do some research into the level of demand for your skills and the day rate you can command and you may find the confidence you need to take the plunge.
It’s not what you make, it’s what you take
If you expect to earn at least £30,000 per annum and to be contracting for more than three months, working through your own Limited Company will mean you can enjoy more freedoms and maximise your take home pay. Our Ready, set, go…into contracting guide gives you more insight into what being a contractor entails.
The first step to setting up a Limited Company…
Know what you’re getting yourself into and understand the responsibilities you’ll have with your own Limited Company. But don’t be alarmed, just make sure you get to grips with what’s what.
We work with contractors every day, helping them run their Limited Company in the best way depending on their individual circumstances. We know exactly how to set up your Limited Company. We can help you incorporate your company within 24 hours and register you for VAT and PAYE. To fully appreciate your responsibilities as a Director, you can have a chat with our experts. You are ultimately responsible for your company throughout the year but we’ll help guide you through everything that needs doing.
Get yourself out there
With the freedom to work where you want, you are the master of your destiny so you need to be active in finding your next contract. Decide on a suitable company name and give yourself a visual identity that you are proud of. Check out our 10 tips to promoting brand: You, including tips for networking, and make sure you harness the power of social media, whether it’s a whole new world or you’re looking to get more out of it.
There’s lots to get your head around when you’re first setting up your company and working with a specialist contractor accountant from day one can help ensure you don’t miss anything. With Intouch, not only will you get help with everything you need to run your company throughout the year, we also have relationships in place so you can sort out your business insurance and banking without any fuss.
Whatever your motivation, there are so many great reasons to set up your Limited Company. Make the right choice for you.
Speak to our experts today about how to get started and they can set your Limited Company up for you within 24 hours…for FREE!