Why should you set up as a Limited company contractor?

Contractors in the UK can work in one of two ways.

You can become an umbrella company contractor, which means you'll, become an employee of the umbrella company and receive your wages like an employee, after income tax and National Insurance contributions have already been deducted.

Alternatively, you can set up and work through your own limited company.  The main reason many contractors choose to work this way is because it's the most tax-efficient way to work however there are many other reasons as to why this way of working could suit you and this video explains just what they are.