It depends on your income level, your plans for growth, and what you want to draw from the business. A limited company offers tax efficiency above a certain threshold but it brings more administrative obligations — statutory accounts, Corporation Tax returns, Confirmation Statements — that add cost and time. The discovery call covers this question specifically, and the honest answer is not always incorporation. If a limited company does not benefit you yet, that is what you will be told.

Fees are scoped to each client’s specific situation and discussed on the free discovery call — proposals are built around what the business actually needs, not a template tier. The proposal will cover formation itself alongside whichever ongoing services are appropriate — bookkeeping, VAT, payroll, management accounts and year-end accounts — so you can see the full cost of running the company properly, not just registering it.

Yes. A number of clients come to Next Level having handled the Companies House registration themselves and then quickly realising there are gaps — HMRC registrations not done, VAT threshold approaching without a plan, or Xero not set up properly. A review of what is in place, what is missing and what needs correcting is part of the onboarding process. Any backlog or catch-up work is scoped and costed clearly before it starts.

No long-term contract. If it is not working after three months, you leave with clean books and nothing owed. The relationship works because it is useful, not because leaving is difficult. Most clients stay because the work is done well and on time — not because the exit is buried in terms and conditions.

As a director you are legally required to maintain accurate financial records, file annual statutory accounts with Companies House, submit a Corporation Tax return to HMRC, and file a Confirmation Statement each year. If you register for VAT you will also need MTD-compliant records and quarterly returns. Xero handles the record-keeping side from day one, so the statutory obligations are met from clean, current data rather than reconstructed at year-end.

The most common approach for a sole director-shareholder is a low salary — typically around the Secondary Threshold — combined with dividends from post-tax profits. The salary gives you a National Insurance record and uses your personal allowance; dividends are drawn on top at a lower tax rate than PAYE income. The right combination depends on your total income, your pension position and any other income sources — salary and dividend planning is covered as part of the formation setup, not left for you to work out later.