Help needed,what advantages do you get?

Just a quick question here, what kind of advantages or disadvantages do you get when you incorporating your business into a company?

I konw like u pay less tax(corporation tax 12.5%), but is that it?

Thanks in advance for any help of information.

1) Please read Posting guideline and amend thread title.

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( PS it may be a quick question but it doesn't have a quick answer )