Ask HN: Should I make myself into a limited company?
I would like to appear professional and to get work making and changing websites as well as doing programming projects for people/companies. I have been programming for quite a few years and have helped some people in the past. I am currently making changes to a website for someone and I normally charge £10 ($15) per hour for my services.
I am interested in what I should do next and have started to try to brand myself as a company. I decided to call the company If Not Equal and have registered the domain name (no website yet). Now I am thinking about registering as a limited company. Is this a good idea? I would then be able to have a bank account and checks made in the company name and I will also have some business cards made. I am thinking of registering as a limited company and issuing 1000 shares for £0.01 each (of which I would own all). Does this seem reasonable and would this lead to complications with cash flow (by being a company)? Would I still be able to transfer any payments from the company account to my own in a timely manner or would I only be able to pay out once per year or the like? In short, is it worth becoming a company?
To freelancers out there I would be very interested to hear what you personally did and any advice you have for me. Also if you know of any guides that you could recommend for people in my position that that would be very helpful.
Thank you so much for reading.