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Yearly Archives: 2012

Limited Company Vs Sole Trader

The legal setup of the business that you are planning to start is a big aspect that you need to decide. It is better to seek the services of a qualified accountant, if you are not quite sure about such matters. Benefits Sole Trader vs. Limited Company Most businesses make losses in the initial stages. If you have left a ... Read More »

New Accounting Advice Site For IT Contractors

Contract Eye Limited, a publisher of business information, has launched a brand new microsite ITCA, specifically meant for IT contractors based in the United Kingdom. This is useful for those contractors who find it necessary to hire services of specialist accounting firms. Contract Eye Limited is a highly sought after business information provider in the United Kingdom for contractors and ... Read More »

New Recruitment Rules: How Do They Affect Umbrella Companies?

In the United Kingdom, new laws that have come into force from October 2012 last year require employers to enrol their employees automatically into a pension scheme. Additionally, it is also mandatory that the employers pay minimum pension contributions to the employee’s pension fund. The minimum contribution to be made by the employers starts initially at 1% and subsequently increases ... Read More »

News Alert: Tax Avoidance at the Top of Government’s Agenda?

In the New Year, the government seems to be giving top priority to tackle tax avoidance and evasion issues with global companies not paying UK corporation tax, celebrities having personal tax arrangements and actual owners of high-end properties that are held through overseas companies brought to light by the media. Most people agree that it is important to pay taxes ... Read More »

Objective Of Choosing Services Of An Umbrella Company

This article aims to help an individual understand how umbrella companies function and how to choose an umbrella company that is most suitable for his/her specific needs. Umbrella companies are preferred by many contractors who are new to the profession to avoid the hassles of invoice submissions for tax purposes and insurance contributions. Though umbrella companies help to share the ... Read More »

Should I Start A Limited Company

In the context of tax implications, it is very important to consider as to which business structure will give the best returns: sole trader, partnership between two individuals, limited company or a limited liability partnership.   The answer to the question, “should I form a limited company’, is a difficult one as every situation is different and is controlled by ... Read More »

The Future For Umbrella Companies

Short-lived Contractors thought that umbrella companies would be short-lived. It was conjectured that the IR35 may be abolished or the PCG might become successful, paving the way for contractors to get back into forming limited companies. The speculation was that the government would ban umbrella companies. Managed service companies had already been forced to close down with the fancy now ... Read More »

What Are The Real Benefits Of Being A LTD Company?

The last two or three years has seen an increase in the number of contractors who have come out of umbrella companies to set up their own limited companies. If a contractor is seriously thinking of setting up a limited company, it is good to try and understand the advantages and disadvantages of starting a limited company and the responsibilities ... Read More »