Operating a Limited Company

Most interim managers and freelance executives choose to perform their work through a limited company they establish for that purpose. This enables them to develop a brand identity for themselves and their services, and to separate the financial operation of their business from the rest of their finances. At a minimum, this shows what most clients and recruiters consider to be a stronger professional presentation and commitment to the independent work style. There may also be certain tax advantages.

If you don't have a limited company, setting one up can be a simple matter. There are many firms who will quickly execute the necessary paperwork for a modest fee (under £50 in some cases). Here are some possible resources for fast company formation.

Additionally, if you are a first-time independent contractor, you may be interested in the services of an umbrella limited company. There are many companies which operate these. They allow you to work as self-employed and use a limited company to finalise contracts, invoice clients, collect and pay your money to you without any tax or NIC deductions.

The Professional Contractors Group also offers a wealth of advice for professionals newly considering a career as an independent, or for those seeking changes to their current freelance work structure, such as working through a limited company.