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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.

For limited company formation and management, Executives Online recommends Competex Limited, a specialist accountancy firm focused solely on the very specific needs of interim managers and management consultants. Competex provides reasonably priced company formation, and once you begin trading, an annual fixed fee service for company secretarial, variable payroll, VAT, and accounts preparation.

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.



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