Umbrella PAYELimited CompanySole TraderFAQs

Limited Company

The Limited Company option is the most common option undertaken by skilled/qualified freelance contractors.

Owning and operating a Limited company allows contractors to be in complete control of their business affairs. It can provide the most tax efficient way of managing income and particularly suits individuals deeming themselves to be ‘career contractors’. The limited liability structure of the company also affords protection to the contractor against the company’s debts if it were ever to become insolvent.

This option, however, is not beneficial to all. Fencross is able to asses each individual and advise whether the limited option would be best for you.

Most Suitable for:

  • Individuals on high charge rates
  • Individuals planning to be contracting for long periods of time

To be considered by:

  • Individuals charging £15ph plus for their services
  • People with spouse working alongside them

Not suitable for:

  • Individuals on low hourly rates
  • Persons who would not be able to be a director or open a business bank account

For more information about the services Fencross Management Solutions provides to Personal Services Companies, please contact us via email at payroll@fencross.com or call one of our advisors on 03333660011