An Umbrella Company provides a number of benefits to a Contractor and is an alternative to managing a Ltd Company. 1: Offsetting Legitimate Business Expenses. The main financial benefit of using an Umbrella Company is the legitimate off-setting of business expenses. HMRC has strict guidelines about what expenses you can legitimately offset, and in what circumstances but in general terms, if you are at a temporary place of work, and expect to be there for less than 2 years, then the cost of … [Read more...]
Archives for June 2017
What VAT solution is best for your Limited Company?
If you’re considering starting your own Limited Company, there are quite a few things to think about. We can help with all of this. We can provide you with software to look after everything, which is in partnership with FreeAgent, incorporate your company and introduce you to some of our partners to help with items such as insurance protection and online business banking.We find that VAT is often left to just utilising the standard VAT scheme of quarterly submissions calculating VAT … [Read more...]
What is a cash flow forecast and why should I make one?
What is a cash flow forecast and why should I make one? Financial forecasts aren't just for large multinational corporations. They are valuable for any business and are perhaps even more important for small businesses, where a healthy cash flow is essential given they don’t always have as much cash available to draw on in case of an emergency.A cash flow forecast can help you:plan out how much you expect to make in sales this year plan how much you expect to spend in … [Read more...]
Moving back to a trusted umbrella service from an expensive PSC provider!
Following changes for off payroll working in the Public Sector, many contractors may have found themselves assessed as working inside IR35. Many end clients do not want the hassle of deciding each individual case and so have placed a blanket ban on all contractors. Many of these contractors cease operating through their own limited company, and opt instead for umbrella employment as their agency and end client have suggested. For a contractor working inside IR35 this is usually the better … [Read more...]