Umbrella Company Services

Self-employment can be complicated by taxes and National Insurance payments.

Umbrella company

Umbrella companies can help you with many issues such as taxes

A self-employed contractor will find he is liable for paying income tax on his profits, VAT, business rates and Capital Gains Tax. He is liable for the payments of class1 National Insurance contributions for any staff, while his personal NI contributions only give him limited coverage. Book keeping has to accurate and all business receipts have to be kept for 5 years.

It’s not surprising that many self-employed contractors turn to umbrella companies as a solution to the continual paperwork and the problems of self-employed taxation. The price they have to pay for the service of one of these companies is well compensated for by the advantages. Working under an umbrella company removes the problem of all the self-employment taxes. The umbrella company accepts liability as the employer paying all the taxes and NI contributions. The contractor is free to continue working as his own boss and he has gained the advantage of better tax returns and health benefits.

The conditions and type of deal that can be arranged depends on the company chosen. Good deals can be made with most umbrella companies as they are looking for clients that are willing to work. A contract that is beneficial to both parties is of interest to everyone.

11 Feb 2013

What are Micro Loans?

The micro loans are sums borrowed to individuals or small companies, having the What are Micro Loanspurpose of starting small businesses or individual initiatives. Of course, a micro-loan can also be used for personal purposes, but usually, the financial institution would not approve such a loan in the lack of a solid business plan. The money can be used to initiate project, or to finish projects that are currently on hold because of lack of finances.

The micro loan is preferred by many because it is easily approved, fast, and companies that already have debts could think about getting this kind of loan. Moreover, if you are an individual that can’t pay his mortgage and current expenses, then you can also think about contacting such a company for a loan of this kind.

Lack of capital was the reason why so many companies went bankrupt in the years 2008-2010 of the financial recession, and this is exactly what current financial companies try to avoid. In some countries, people live with 1.3 $ per day, so offering such micro loans with small sums could be life savior for so many families. Micro-loans are not charity, and people benefiting of such loans would be stimulated to work. The micro-loans are a method to introduce some financial concepts in some poor countries, and this is why those loans are so encouraged today.

Of course, the microloans are also available in wealthy countries, and in the base of such contract, and individual could easily obtain sums of 40,000 dollars or more. for smaller sums, the client does not need justification for how he or she spends the money, but in the case of larger sums approved through a microloan, the financial institution would only approve the loan in case a solid business plan is stated, as in this case, the respective institution knows that the client would have the money to pay the respective loan back.

10 Jan 2013

Accountancy Firms to Improve Your Business

By signing a contract with an accountants London firm, you will have some accountants Londonadvantages, such as maintaining the control over the tasks that need to be done in this matter. Moreover, you will have a more efficient communication with all the departments.

The financial department is one of the most important in a company; therefore, you must leave it in the hands of professionals. Your secrets will be safe, as those professionals respect the privacy of clients. You will also cut some costs, allowing you to use the funds of your company more efficient. An in-house accountant will have to be trained, paid and instructed about the internal regulations of the firm. In the case of chartered accountants in London, you will eliminate those worries, and you will even benefit of services that are more professional.

If you don’t like this system, you can always hire an accountant directly at your company. However, you will have to consider all the advantages and disadvantages of using this method before applying it for your company.

09 Dec 2012

Payday Loans with Payment Plans

As most of us know unexpected expenses can cause a great deal of stress, and payday loans are often the ideal solution but usually lenders will expect repayment at the end of the month, or on payday and this may not be possible either. Thankfully there is now the possibility of payday loans with payment plans; meaning that the loan will be granted according to monthly salary, but a payment plan can be arranged to make repayments over a longer period of time.

Often payday loans don’t even require a credit search; most will only need to see a monthly wage. It is possible to apply for these loans online and once they are approved the money will appear in your bank account the following day, or in some cases the same day. Whether the loan is to pay off accumulated bills, or to purchase an item that is otherwise out of reach; or for whatever reason, the terms and conditions will be the same.

The advantages of payday loans with payment plans are many; mainly that instead of a fixed date when all monies must be repaid in full, the borrower can pay back the loan in installments; weekly or monthly depending upon how they are paid and the size of the loan. Of course paying in installments will mean that more interest is accumulated and a larger amount will be repaid in the end,  but this does give an easier solution to how to repay loans.

There are different ways to pay back payday loans: Full Payment, Half Payment, and Fee Payment.

Full Payment Plan is the one most commonly used; where the borrower agrees to pay back the full amount plus interest and fees, on a fixed date.

A Half Payment Plan can be arranged whereby 50% plus fees is paid back on the first payday and the remainder plus accumulated interest will be paid on the following payday, or on a prearranged date.

The Fee Payment Plan involves the borrower paying back only the financing fee on the arranged date and the rest over a period of time. However, remember that this will mean that accumulated interest will pile on and borrowers may find themselves in worst debt then when they began.

In the UK, applicants must be a UK citizen of a minimum 18 years old, with a fixed monthly income and a valid bank account. Beyond these criteria, no other personal details or credit checks will be required.

31 Aug 2012