being a limited company has it pros and cons same as everything in life i recently went ltd to safeguard my assets.
yes you do pay company tax on a ltd company but only if your profit is over 10k a year (so spend it before the tax man has it)i.e year end get your new truck or your light bars or your alloy wheels or company computer or anything as long as it goes back in the business i.e not profit at year end.
you will pay less personal tax as you no longer pay tax on your profits ( the company does )
you will need to re-apply for an o license (ltd companies need their own) you will be the TM
you will need a new bank account (ltd companies have to have their own account)
same with the v.a.t
if you think of a limited company being another person that you work for you wont go far wrong…
but if things go wrong as a employee of the company you just walk away 
