Re: Anonymous Contractor
"When I went contracting I didn't want to setup a LTD company, it's a pain in the butt, the only benefit was the ability for me to employ my wife when the kids were very young and charge certain expenses through the business"
This is where you missed the main point (and many contractors do).
As a contractor, you are liable for your work. If you are a dev and introduced a bug which cost the client sales, they have the right to sue you to recover those lost sales (and other damages). Even with professional indemnity insurance covering millions, a claim could well exceed this.
If you were taken on directly as a sole trader, a claim could cost you your house and make you bankrupt. The claim (over any insurance payout) would fall on your shoulders and could cost you everything.
An Ltd is a Limited Liability Company: The client could not sue you, but could sue your company, and only assets of the company could be touched. They could not take your house, your TV, your personal savings.
This is the main reason for running a Ltd company. Tax and other benefits are secondary at best.
Biting the hand that feeds IT
