Limited company formation for contractors

Quick and simple online company formation for freelancers, contractors and consultants.

£49.99 +VAT


What you’ll get:

Hassle free formation

Your limited company is formed online and ready to trade in as little as 3 working hours. There’s no paperwork and we’ll guide you through the simple incorporation process step by step.

Digital copies of important company documents

We’ll email you the Certificate of Incorporation, Share Certificates and Memorandum and Articles of Association, so there’s no waiting around for the postman.

Your personal address is protected

Use our London address as your Registered Office and Director's Service Address (together worth £79.99), keeping your own address off the public register.

Business Start Up Toolkit including tax consultation

Includes a tax consultation with Pearl Chartered Accountants, specialist accountants for contractors, plus website domain name, business start up eBook and more.

Business Bank Account with £50 cash back (optional)

All limited companies require a bank account to start trading. Fill out a quick form when completing your incorporation details and we’ll fast track the account opening process.

Fast Service

Almost all of the companies we form are registered within 3 working hours. Now that’s fast.

Great Value

The package includes the Companies House filing fee, plus our free company admin portal so you can keep your company details up to date.

You're in safe hands

We’re here for our customers; simply call, email, chat or tweet us and we’ll be happy to help.

Get up to £75 cash back paid straight into your bank account
(no cheques!)

When you open a business bank account

Open your Business Bank Account using our fast track service, our team of dedicated Business Managers will support you in getting your new venture up and running.

Find out more

Apply for a business account with Cashplus Bank without having to re-enter your details. No credit check to apply & decision within minutes.

Get a business current account in minutes (not weeks), straight from your phone. Smart business banking without any monthly or annual fees

Find out more

Every company needs a business bank account to start trading.

Proof of ID

Proof of ID

We have a legal obligation to check Proof of ID and Proof of Address. This is to ensure we comply with Anti-Money Laundering (AML) regulations and 'Know Your Customer' (KYC) requirements. Please check this article to see which documents we can accept.

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“I set up a business for the first time last night and it literally took 10 mins. Was very easy to do and I already have my documents through by email.”

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We only partner with the best

We’ve built relationships with some of the UK’s biggest brands to help get your company off to a great start. How about that for quality?

Limited company formation for contractors

£49.99 +VAT

Why register as a limited company?

Running as a limited company is the most common way for UK contractors to operate. By forming a company you can:

Take home more money

One of, if not the major reason for stepping away from ‘regular’ full time employment into the world of contracting is the potential to make more money. By setting up and running as a limited company, you can operate in a more tax efficient manner, which obviously increases the likelihood of you taking more money home.

Reduce tax liability

The Corporation Tax rate for company’s with profits of up to £300,000 per year is 20%, this is called the ‘small profits rate’. Luckily by taking advantage of every deduction and expense available to you, you’re able to get a better understanding of your company's profit and reduce its tax bill. By paying yourself a modest wage and taking most of your income in dividends, you can cut down on National Insurance Contributions (NICs). This is because NICs aren’t payable on company dividends.

Be your own boss

Of course you’ll still need to seek employment in the form of contracts but ultimately you are working for yourself, taking control of your own life, doing work that you want to do. As a contractor operating as a limited company, when it comes down to it, you are the boss and can pick and choose work that appeals to you.

Protect yourself from personal loss

As the name suggests, in a limited company your personal liability is limited. The company is its own legal entity so, as a shareholder, your personal assets are protected. In the unfortunate event of you running into problems, you are only liable to pay for the value of shares that you own but haven’t paid for, provided that you haven’t broken the law in any business dealings. In short, you are not personally responsible for debts the company can’t pay.

Look more credible to potential clients and suppliers

Limited companies give a better impression and a more professional image. This is due to the higher level of perceived responsibility running a limited company requires, including filing obligations and accounting requirements. Operating as a limited company can help you create a brand identity and build greater credibility, attracting new customers and suppliers.

Frequently Asked Questions

How much will I save if I set up a limited company as a contractor?

For all limited companies, corporation tax is 20%, compared to the 20-45% that an individual would pay. By setting up as a limited company, you could reduce your Income tax and National Insurance Contributions (NIC) resulting in higher take-home pay. Our tax saving calculator will help you compare the amount of tax payable on your estimated earnings and see which option is best for you.

What is IR35 legislation and how does it affect me as a contractor?

Also known as ‘intermediaries legislation’, IR35 is a set of tax rules that apply to those who are contracted through an intermediary and not deemed ‘self employed’ by HMRC. It is designed to prevent individuals from not paying the right amount of tax through ‘disguised employment’. With the Contractor package we offer a free consultation with Pearl, specialist Accountants for contractors; they will be able to check if IR35 applies to you and provide further guidance on compliance.

What if I no longer need the limited company?

If you no longer want to trade under a limited company, you can remove it from the Companies House register. With our company dissolution service, we’ll complete all the documentation to close (dissolve) your company for you.

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