Limited company myth buster

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After spending years learning the basics of contracting with an umbrella company, there may come a time when you feel ready to take your career to the next level.

If you decide to set up your business, you’ll be able to take more control of your career and become your own boss – now who doesn’t want that?

Unfortunately, there are still a few common myths doing the rounds that could put would-be company directors from making the leap to limited. To help, we’ve created this quick guide to separate fact from fiction.

It costs too much to set up a company

Not true! You can actually start up your business through Companies House from as little as £15! This online service takes just 24 hours to complete – so there’s no excuse.

Before you rush down that road, however, think about this... Although it seems a quick and easy way to set up your business, Companies House won’t provide you with any additional assistance – something we know you’ll appreciate as a new company director.

It’s therefore a good idea to speak to a specialist contractor accountant, such as ourselves, as they’ll be there for you every step of the way. The price of incorporation might vary, but if you do your research, you could find somebody who’ll do it for free!

I’ll have to do too much paperwork

OK, so there’s a grain of truth in this one. As a company director, you’ll need to take on additional responsibility in return for the greater rewards you’ll receive. The good news is that you won’t have to do this by yourself.

By joining a specialist contractor accountant, you’ll get expert guidance and support every step of the way. This leaves you free to get on with what you do best, safe in the knowledge that your obligations are taken care of.

I won’t have time to visit an accountant

That’s probably true! We understand that as a contractor, you’ll probably not have much time in your busy WorkStyle to go and see your accountant.

Thankfully, a specialist accountant will normally provide access to a secure online platform to manage your accounts. If you’re the traditional type, some providers also offer a telephony service to give you an added personal touch.

There are too many deadlines to remember

You’d be right in thinking that there are a lot of important dates to remember as a limited company director. Rather than needing the memory of elephant, however, joining a specialist accountant will help you keep track of what’s required of you and when.

Why ClearSky Contractor Accounting?

We hope we’ve managed to dispel some of the common rumours about running your own business and helped you see that becoming a limited company director is right for you. If you want more advice, then look no further.

At ClearSky Contractor Accounting, we pride ourselves on our ability to make the lives of contractors as hassle-free as possible. We’ll be with you all the way throughout your career, providing expert advice whenever needed.

We tailor our service to fit around your busy WorkStyle. Our online portal lets you manage your account day or night, while our dedicated team is on hand at a time to suit you, thanks to our extended opening hours.

For more information, or to join up, please call 0800 032 5326 or email enquiry@clearskyaccounting.co.uk.

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