The owners of a limited company are its shareholders, of which there must be at least two. Directors and Secretary may also be shareholders. Very small' companies need not support their filed accounts at all. All companies must file an annual return giving details of its Directors, shareholders and certain other statutory information. All information on file at the Companies Registry is open to inspection by the public.
Limited companies pay corporation tax on their profits.
This usually has an overall beneficial financial effect, but involves addition paperwork and responsibilities. Earnings can be taken as any mix between salary and dividends for tax efficiency. Legitimate expenses can be offset against tax for tax efficiency. Legitimate spouse salary can be offset against tax for tax efficiency. Virtually all agencies will deal with limited company contractors.