Providing service through your limited company

[Maggiethecat]

Thinking of offering professional services via limited company, as one option, rather than being paid a salary.

Does anyone do this and is it quite involved? I expect to pay corporation tax and NI? What else can I expect to pay?

I'll try to get an accountant's advice but in the meantime trying to work out if better to go via the self employed/company route or opt for paid salary route.

It might be helpful to know that you can take out IR35 insurance - both to cover any costs you'd incur from an investigation but also to cover any fines / clawback. Its super reasonable. I recently used Qdos for an independent IR35 determination (its a small business exempt client so the determination exposure is with me as the contractor). They also provided the insurance for about £200 for the year.

Thanks for this feedback - really insightful.

I've opted for the employed model for now as there's too much else going on for me to be stressed about IR35 determination.