Viewing single post of blog a-n Bursary: Setting up as a Limited Company

In the last part of my blog, I include some considerations of becoming a limited company, as well as some resources I found useful.

Considerations of going Limited:

– It can appear more professional to some clients who will expect to deal with a limited company (this really depends on your type of artwork and who you sell to/work with)

– Depending on your annual turnover, it can be better for your taxes. Company directors often pay themselves a small salary up to the tax-free threshold and then take dividends from the profits of a company that aren’t subject to the same taxes and contributions.

– Setting up a pension is a legitimate business expense and tax advantage (if you’re turning over enough to pay yourself and set one up – this can be an aim for later in the business if it does well).

– Assets and involvement in tenders for work are totally separate from your personal life and assets.

– Your business name cannot be copied.

– If you ever need business finance it will be easier to apply for.

– There are much more administrative hoops to go through and your accounts are much more public than trading as a sole trader.

– Accountancy costs can be quite high in relation to a self assessment as a sole trader

– Being a director of a limited company means you still have to file a self assessment to HMRC.

– More tax effective if you get a large contract

Remember to consult a professional on what options are best for you; this is not formal financial advice.

Resources I found helpful:

Https:// plan-for-an-artist-business/



Role Models Podcast – this is an inspiring podcast that interviews women who work in many different sectors. One of my favourites as the presenter has a gentle style that manages to really get the best and most insightful responses from his interviewees

Creative Women International – website and great podcast series of tips and advice about running a creative business in a clear way, with an understanding and sympathy for the advantages and pitfalls of running a creative business

Art Biz Podcast with Alyson Stanfield – advice from an expert across the pond. Alyson gives tips and also insightful interviews with artists from a range of disciplines about how they run their art businesses and lives –


You can find out more about me, and what I do at my website