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Question about registering as limited company?
I'm going to start contracting in a few weeks and several sources - including freelance agencies - have advised to set up as limited company, they think this is slightly better option than sole trader. I agree as it may be the case I need to take on a freelancer myself to help with the work. The problem is the HMRC site seems to think I should be selling shares and that just seems weird and a bit of a faff, do I really need to do that? If I do, can I just sell myself the shares?
2 Answers
- !Lv 78 years agoFavourite answer
You can be the sole shareholder and sole director (makes meetings a lot of fun - you talk to yourself!!).
See https://www.gov.uk/limited-company-formation - you can do it online and it's easy.
- HsquaredLv 78 years ago
To set up a limited company you need to have the help of an accountant. There are generally shares which are nominally by you - the company owner, you don't have to sell them it is only a paper exercise, your accountant will do all the paperwork for you.
