Originally Posted by I, Brian
However, with a limited company you will need an accountant to sign off your accounts which incurs a small cost.
With a small Ltd company you can do your own accounts. It is several years in the past now, and I have forgotten the exact tax details, but I was briefly director of my own Ltd Company. I was offered some urgent contract IT and admin said "you must form a limited company before we can pay you".
I bought a boiler plate Ltd company via the Internet (I think I paid about £40), and at the end of the year did my own accounts. I bought a book on Ltd Companies from Amazon to help. Basically there is an option somewhere (assume it still exists) to say "this is a small company with a turnover of less than x". You then have to supply far less information and you don't have to have an accountant sign off on the accounts you produce. The HMRC website for the company tax was pretty good.
You do also have to file an annual return with Companies House and pay an annual fee. Possibly £20.
It is possibly worth ringing up the HMRC helpline and seeing if one or more specialists can talk you through the options. They can be very helpful.