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Credit Card Fraud – Ways Businesses Can Avoid Them

The Commerce Department has released figures that indicate increased retail sales (1.1%) in the month of February 2013 totaling $421.4 billion. This has been the highest rise since the month of September 2012. This directly means that there has been an increase in credit card transactions and an increased risk of credit card frauds and unfair practices.   Recent reports ... Read More »

Umbrella Company – How Does It Work

When a contractor enters into an agreement with a client or an employment agency, the umbrella company becomes the contractor’s employer for tax purposes. This offers an alternative to establishing a Limited Company by the contractors themselves. Further, if the contractor’s agreement is outside the purview of IR35, it becomes a very cost effective operation. The umbrella company issues the ... Read More »

How To Set Up A Limited Company Correctly

One of the most preferred legal business structures in the United Kingdom, other than being a sole trader, is a limited liability company. This business structure, as the name implies, is one wherein the liability of the directors of the company is limited. The company’s finances are treated as separate from personal finances of the directors. This is not so ... Read More »

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 »

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 »

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 »