Limited company formation for contractors

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

£49.99 +VAT

GOLD TRUSTED MERCHANT

What you’ll get:

Hassle free formation

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

Your personal address is protected

Use our London address as your Registered Office (worth £49.99) and Director's Service Address (worth £29.99), keeping your own address off the public register.

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.

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.

VAT registration with HMRC

Avoid delays or errors, our team will thoroughly check and approve your VAT registration form before submitting it to HMRC for you.

Business Start Up Toolkit including tax consultation

Includes a tax consultation with Brookson, specialist accountants for contractors, plus website domain name, Google AdWords voucher, business start up eBook and more.

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.

Over £100 Cash back

When you open a business bank account & accept payments with Worldpay

Get a Barclays Business Bank Account opened quickly with the help of a dedicated Barclays Local Business Manager guiding you through the process.
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Apply online for a TSB Business Bank Account, letting you choose the most convenient time and helping to get your business up and running faster.
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Start accepting payments from your customers with Worldpay, the UK's leading payments provider. Request a call from payments experts today.
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Every company needs a business bank account to start trading.

We’ve helped over 500,000 companies get started.

Our customers rate us with 97% positive service rating

Independent Service Rating provided by:

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“Company Formation MadeSimple removes all the uncertainty and worry about not understanding everything about setting up your own company. They make it 'simple' and are always available, friendly and helpful on the phone.”

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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.

How does the VAT registration process work?

The VAT application form will be included in your purchase confirmation email, along with some guidance notes on how to complete it. Simply provide the necessary details and email it back to us, our team will then thoroughly check and approve it before sending on to HMRC for you. Once submitted to HMRC, it can take around 4-6 weeks to be processed.

What will the tax consultation cover?

During the free, no obligation telephone consultation, our specialist Accounting partners Brookson will be able to discuss how to maximise your take-home pay, including an IR35 eligibility check and take-home pay comparison. They can also advise you of contractor insurance options and other legal services.

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 Brookson, specialist Accountants for contractors; they will be able to check if IR35 applies to you and provide further guidance on compliance.

Will I need to register for PAYE?

To pay yourself a salary, bonuses or expenses through your limited company, you will need to be registered with the Pay As You Earn (PAYE) scheme. As the director of the company, you will be registered as both the employer and employee. With our PAYE Registration Assistance service, you can complete a simple online form and have it reviewed by one of our experts.

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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Made Simple Group Ltd
www.madesimplegroup.com
Registered office:
20-22 Wenlock Road
London
N1 7GU
United Kingdom
Company number: 04214713
VAT number: GB820956327
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