The basics
Limited company
A company that's a legal person in its own right, separate from its owners, whose shareholders are only liable for its debts up to what they invested. Most UK businesses are limited companies ("Ltd").
A plain-English explanation of how this usually works, not legal advice. Rules differ between countries and change over time, so check your own situation. Disclaimer.
You'll hear it as
I contract through my own limited company.
Also called Ltd.
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