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Our team of expert advisors will be able to help you decide if you should operate as a sole trader, limited company or through an umbrella company. We can answer any questions you might have with a free, no obligation consultation.Book a free consultation
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Commonly asked questions
"Should I be a sole trader, limited company or umbrella contractor?"
"There are advantages and disadvantages to each approach, particularly when it comes to tax issues. Learn here what sets each option apart and which is right for you."
"How does tax work in a limited company?"
"You will pay Corporation Tax of around 20%. Most allowable business expenses will be deducted from your company's profit and will therefore not be taxed, saving your company money at the end of the tax year."
"How does VAT work?"
"There are currently three rates of VAT for goods and services. Standard (20%), Reduced (5%) and Zero. Some items may also be exempt from VAT. Learn more here."
"What's the most tax efficient way to pay myself?"
"Typically a combination of salary and dividends will be more tax efficient than using either of the methods separately. We recommend you pay yourself salary, if appropriate, and a dividend will be paid out of remaining profits after tax. It is important you pay dividends and salary separately."
"Should I include my partner as a director or shareholder?"
"This is only advisable if you are married, but even in this case it is best to speak with an accountant first, as circumstances can differ."
Expert accountancy advice
Our team of accredited experts are here to help. Get tailored accounting advice exactly when you need it from our qualified accountants. We're an ACCA and AAT accredited employer, so you know you're getting the very best support. Our accountants are right at home dealing with freelancers, contractors and small businesses.
What people are saying about Crunch
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. Credit where credit is due, @TeamCrunch. has the best customer support I have ever seen.— Marcelo Lazaroni (@Marcelolaza) March 16, 2017
. Honestly, I don’t think I could run my business half as well without @TeamCrunch. Amelia, my account manager, is an absolute hero!— Harry Roberts (@csswizardry) December 09, 2016
I know I've said this before, but I'm so impressed with @TeamCrunch. Their webapp dashboard makes sorting my company's accounts a breeze! :)— Dan Clarke (@dracan) January 29, 2016