More money with an accountant doing the books for your company, thats the situation I am in. They used to be called company management services or something but the budget of 07 killed that off and the whole market changed. It should be easier now aswell as you no longer require a designated secretary.
Speaking to one of the specialists here would be one way to go, particularly if you can make you aware of pay rate and hours they can present several options. Brooksons made it very clear to me, as they do every week with their splendidly transparent pay slips/divident vouchers.
VAT registration on a flat rate scheme (cash counting) means you throw VAT on your hourly rate (17.5%) but HMRC only require 12% or so ( i think im still in the 11% area) in return, so essentially you keep the difference. Money for nothing.
Basically speaking as a ltd company director you pay yourself around £106 a week (no tax but keeps NI ticking over, 13p

) then claim any expenses. The amount left over after this total expenditure is subject to corporation tax of 21%, then you take the rest as a dividend. Obviously any expenses bypass the 21% as they count as an expense not profit.
Alternatively under PAYE your salary is deducted as per a permie and you take the net amount.
Registering and setting up a bank account was complete within 2 weeks for myself. Lots like HSBC as it can allow better transparency between your business account and the accountancy.