Let's compare the advantages and drawbacks of setting up a limited company VS working through an umbrella company.
Why set up a limited company?
- Limited liability
- Tax efficiencies
- Increased credibility
Why not set up a limited company?
- Increased legal and administrative requirements
- Less privacy; details of the company are publicly available
Why work through an umbrella company?
- Ease of use
- Flexibility
- Entitled to statutory benefits
Why not work through an umbrella company?
- Costly way to operate
- Lack of control
Let’s compare the advantages and drawbacks of setting up a limited company VS working through an umbrella company.
Why set up a limited company?
- Limited liability
- Tax efficiencies
- Increased credibility
Why not set up a limited company?
- Increased legal and administrative requirements
- Less privacy; details of the company are publicly available
Why work through an umbrella company?
- Ease of use
- Flexibility
- Entitled to statutory benefits
Why not work through an umbrella company?
- Costly way to operate
- Lack of control
![](https://cdn.prod.website-files.com/5d71eeb2a19ee09db630f4e3/62eb99ccf3f5ab4751ca7fc2_Mask%20Group%20(10)%20(2)%20(1).webp)
Expert Contractor Accounting from Only from £75/mo
Dedicated 1-on-1 accounting support for contractors and consultants from £75/mo. Set up a new limited company or switch accountants, optimize your take home pay, get IR35 advice and all your company filing sorted.