From Sole Trader to LTD

[wheels]

My partner works as a freelance consultant and is currently registered as a sole trader. She works for long periods of time on specific jobs (sometimes anywhere from 8 months to a year).

A lot of people in a similar situation have been telling her set up a LTD company instead of working as a sole trader as they say there are more benefits. From my limited research here I don't think there would be cost implications (she has no overheads and is essentially always on a weekly / monthly rate).

Any advice? Any suggestions or places you could direct us to in order to look into this in more detail. Most information I've found is either vague or difficult to relate to this sort of business.

 

[J.Ryan]

There are more costs and more compliance headaches (CRO etc), but, at times it can be better, especially with the current crackdown on contractors by the revenue (currently its locums etc being put onto PAYE, but how long before it becomes standard practice).