Question: what are the advantages and disadvantages of being a limited company?
Answer: Tax efficient. It's well known that a limited company is more likely to be tax efficient compared to a sole trader, and that is one of the many reasons it's a popular business model. ... 
Limited liability. ... 
Separate entity. ... 
Professional status. ... 
Company pension. ... 
Maximising tax-free income. ... 
Complicated to set up. ... 
Complex accounts.