The simple and effective solution to increasing your take home pay
The perfect solution for setting up and running your own company
If, like thousands of others, you're thinking about a life of contracting you'll need to have a limited company of some description.
Why? Because you need a limited company for legal reasons. Since the introduction of the MSC (Managed Service Company) legislation in 2007, the only way a contractor can comply with this requirement is to set up their own limited company or to use an umbrella company.
Recruitment agencies and end-clients will only deal with those contractors who have limited company ‘status'.
In order to achieve limited company ‘status' some contractors decide to open their own limited company while other contractors prefer the services of an umbrella company.
An umbrella company is ideal for short-term contracts and for those who are happy to pay a little bit more tax in return for no paperwork at all.
That's right, no hassles whatsoever. An umbrella company is the simplest and most straightforward way to handle contract administration & paperwork.
A limited company is the best option for those contractors who have longer term assignments and for those who want to reduce their tax bill and maximise their net take home pay.
Running your own Limited Company is made simple with the services of Contractors Limited Company.
You will be a director, with obligations and responsibilities for the legal compliance of the limited company. Though there is an element of additional work, it can be just as rewarding to run your own limited company and financially you will be better off.