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Why work through a limited company?
Very simply, you work through your own limited company to save yourself money.
If you are a contractor and have the option of working though your own limited company as opposed to PAYE, your savings will range from a few pounds to several hundred pounds per week. Check our PAYE verses Limited Company calculator.
If you would like to further discuss the merits of working through your own limited company, please contact us. We will be only too happy to chat to you over the phone or see you in person for a free consultation at our West London office.
Once you have decided to contract through your own limited company, you will firstly need to choose a company name. You may wish to check the Companies House website to see if your chosen name is available.
Next, please complete our simple online questionnaire and return. Upon receiving the questionnaire we will respond to you with our bank account details so you can pay for the company directly over the Internet.
The incorporation of your company will cost £117.50 including VAT and will take approximately 24 hours once we receive your completed questionnaire and payment. When your company is ready, we can either post it to you first class or you can pick it up from our West London office.
You will then need to contact your bank to open up a ‘small company bank account’. This is usually a straightforward process, however, some banks will make it harder for you than others. If your local bank places too many requirements on the opening of a small company account, All Tax UK will put you in touch with a High Street Bank that will open an account for you, provided you meet their minimum criteria. This includes being able to show a valid passport, proof of address and the relevant company documents. It is very rare that a client cannot open a small company bank account with the assistance of All Tax UK.
After you have opened a small company bank account, simply invoice your employer for your weekly hours worked and they will make payment into your limited company bank account.
Please contact one of our qualified consultants if you would like to discuss further the merits of working through your own limited company.
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"Considering the advice and level of service I’ve had from your company I would have been a fool to go anywhere else!"
-Gary 2008
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