Expat mortgage case study: Richard

A returning UK expat, after 12 years abroad

Expat mortgage case study: Gary

An Irish National who moved to the UK in November 2016, having lived and worked in Dublin before spending 3 years in Australia. 

Expat mortgage case study: Jane

Jane is a Client Director with an Insurance company, who recently moved back to the UK after 7 years living and working abroad. 

Mortgages for returning expats and foreign nationals

Mortgages for returning expats and foreign nationals

Contractors' Questions: Should I agree to give a client progress reports?

A monthly round-up is better for your stress (and status) than a ‘tracking log.’

Spring Statement 2018: how contractors will fare

What contractors want in 13 days’ time, and what (if anything) they’ll get.

A guide to contracting direct with the end client – advantages and disadvantages

How your personality can determine whether contracting direct with the end client is for you, or not. 

Top tips for end of tax year allowances 2018

FAQs to think over before the tax year ends on 5th April. 

IR35 reform ‘behind 38% drop in active IT contractors’

A slump in live IT contractor assignments just got deeper for the third month in a row.

How To Start And Run A Small Home Business

When you start any kind of business, you need to plan out the details of your business, make a few challenging financial decisions, and make sure you understand all the legal requirements you need to fulfill. Once you have set up your business, you will then need to use B2B (business-to-business) services to help you run your business.

Let’s take a look at how to set up a business and what services you will need to run it.

3 Steps to Set Up Your Business

Here are some of the basic steps you will need to take to get your business off the ground:

First, you will begin by conducting thorough market research to see if your business idea is sound. If it isn’t, then come up with a few more ideas and research them. Don’t start your business until you find a product or service that will sell well.  Based on what you’ve discovered, you can now flesh out your business plan. This will then be used to persuade lenders or investors to help you fund the business.

Next, you need to pick your business location, choose your business structure, and decide on a business name. If your business location is your home, you will need to get a business address. It is important to keep your business and home addresses separate to protect your privacy as well as make your business look more professional. Fortunately, you can solve this problem easily by using a digital mailing service, like iPostal1.com, that will provide you with a real street address as your business address.

Finally, you will need to register your business and obtain federal and state tax ids, apply for licenses, get permits, and open a business bank account.

4 Essential Services to Run your Business

1. Services to create an online presence.

You will need a website design business or learn how to build your own website using a website builder. You will need a website and a blog to begin marketing your business online. You will also benefit from hiring a blogger to create a regular stream of content and a social media manager to help build up relationships with customers on popular social media platforms. However, if you have the time, you can blog your own articles and take care of your own social media accounts.

2. Services to accept payments.

You will need a payment service provider (PSP) to accept electronic payments from customers buying from your website. Choose a PSP that allows you to accept a large variety of payment methods like credit cards, debit cards, and bank transfers.  You will not need to establish connections with financial institutions or figure out how to deal with international financial transactions because the PSP will take care of all this for you. They have developed relationships with financial institutions, payment networks, and other external networks.

Besides these essential payment collection and processing services, if you choose a full-service PSP, you can also get the following services:

• A risk-management service for credit cards and bank-based payments.
• A transaction payment matching service.
• A remittance service.
• A fraud protection service.
• A multi-currency service.

There are also next-generation transactions that a PSP can help you with like e-check processing, prepaid cards, and e-wallets.

3. Services to manage your money.

You will need an accounting, bookkeeping, and tax preparation services to help you manage cash flow and keep track of your financial health. While you could do these yourself or get some high-quality software that will make it easier to do, it’s best to outsource these services as you need to focus on marketing and sales. You can’t afford to fall behind on keeping up with your books.

4. Service to help you with business legalities.

You will need to use business legal services to set up your business for success. You will need these services for your business formation. They are also useful for corporate compliance issues and will help you with other business services down the line when you no longer work from home because your business has grown into a full-scale, multiple-employee enterprise. At that time, you may need to deal with trademark registration, articles of amendment, and articles of dissolution.

Although starting your own business can be overwhelming, you just need to break everything down into manageable chunks. So, after you set up your business, decide what services you need. Naturally, your list of services will increase as your business grows.

24-hour protest against IR35 proposed

Contractor to mount a day of action against a 2019, or 2020 extension.

Company directors await address waiver

Details of where you live soon to be omitted in Companies House filings.

Compare umbrella companies – a contractor's guide

How comparing umbrella companies can fetch you the best deal, and what to look out for. 

Contractors’ Questions: What other IT skills are sought-after in London?

Rundown of what end-users in the capital want, outside of development and security.

Contractors’ Questions: What other IT skills are sought-after in London?

Rundown of what end-users in the capital want, outside of development and security.

Why You Must Choose Your Career as if Your Life Depended on It

Deciding on your career can be one of the most important decisions that you make in your life. It’s one of those pivotal decisions that can make all the difference in the world to you, your family, and even society as a whole. It’s up there with major life decisions, like deciding where you want to live and whom to marry.

Lamentably, many people don’t even get to the point where they consciously decide on a career. Instead, they stumble from one job to another, learning a considerable number of skills but never mastering anything in particular.

While you are always free to change careers, it is not easy to do. Since it often requires such a huge commitment to build a career, changing to a new one is unsimple. In fact, it’s rather like getting an ocean liner to change direction. It can be done, but it’s often a slow, prolonged process. 

Consequently, the sooner you find a career path that works for you, the more likely you are to have a more secure and joyful life. This career path can be anything from being a fashion merchandiser to a being a writer to being a surgeon.

Let’s use these three examples to get a better idea of some of the things you should be thinking about when you choosing a (possibly new)career.

A Career in Fashion Merchandising

What is fashion merchandising? When people think of a career in fashion, they often think in terms of design. While that’s a vital part of the fashion industry, there are many other equally important paths you could take. Fashion merchandising involves promoting the sale of fashionable clothes and incorporates almost every aspect of business necessary to get the artistic work of designers to consumers. It might involve playing a role in the supply chain, like organizing manufacturing and distributing apparel. You might develop marketing campaigns, or direct a retail sales strategy. You might be in charge of creating enticing product displays in a retail environment. Since it’s a rather broad discipline, it’s crucial to find the right school. In addition, you should get plenty of real-world working experience, like participating in an apprenticeship program.

A Career As A Writer

There is no particular path to becoming a professional writer. While you can go to school for journalism or get a Masters of Fine Arts degree, these don’t automatically qualify you to become a journalist or a novelist.

Many acclaimed authors throughout history learned how to write well by simply stumbling through the rules of grammar and spelling until they developed fluency with the written word. Even then, they still needed good editors to help them polish their words and even rethink their best writings. It’s hard to imagine the works of Ernest Hemingway or Scott F Fitzgerald or Thomas Wolfe without the invaluable guidance of William Maxwell Evarts (who was better known as Max Perkins), the famous book editor at Scribers. He was something of a genius when it came to recognizing artistic talent and encouraging it.

Since writing is a skill rather than a profession, you can start anywhere. What really matters is the passion. Writing well is all about getting plenty of (formal and informal) education and consistent practice.

A Career as A Surgeon

Establishing a career as a surgeon is almost exactly the opposite of building a career as a writer. Surgeons need plenty of structure throughout their careers. It starts with four years of undergraduate schooling, then four years of medical school, then as many as ten years of residency and fellowship. Even when you’re working as a surgeon, you will need to maintain your license and stay well-informed about the latest advances in medicine.

What can we learn from these widely different career tracks? They all involve three things: doing work that you love, a commitment to education, and plenty of work experience. Without these three qualities or disciplines, it’s impossible to achieve excellence.

Contractors’ Questions: Will the Blakely case affect umbrella companies?

'Writing is on the wall for brollies -- HMRC holds the paintbrush and BEIS the ladder.'

Pipefitter 'only a worker due to parasitical brolly'

A real umbrella would have thwarted a first of its kind bogus self-employment case.

IR35: what private PSCs could see in April 2019

Seven near certainties of IR35 reform in the private sector.

Optionis tipped for £300m sale

No denials that ‘strategic options’ for SJD Accountancy’s parent are being looked at.

Comparing contractor accountants

How comparing contractor accountants can help you choose the right one for you and your business. 

BBC ‘profited from Ackroyd’s PSC set-up’

Second legal expert finds fault with the broadcaster since IR35 stung one of its presenters.

Contractor body warns of two-year rate freeze

 Profits squeeze predicted -- except for a small band of associate professionals.

Why BBC presenter Christa Ackroyd’s inside-IR35 status stood

Expert analysis of how a PSC at BBC News made headlines that neither party will have wanted.

Online tax appeals show higher success rate

Contesting the taxman’s claims digitally has the edge over doing it manually.

Need to Relocate for Business? Learn How to Make the Move as Easy as It Can Be

When you have to relocate for business, it is important to properly prepare to make the transition as easy as it can be. There are many people who do not realize that there are many things they can take care of before they even move to the new location. Use the guide below to learn a few tips to use to ensure your move to a new city goes smoothly.

Do Research About the Area

Before you relocate, it is important to do ample research about the area. You need to be sure that you move to an area that is safe and knowing the traffic patterns for the area will ensure that you do not have to spend hours out of your day commuting, once you move.

Find a Place to Live

Before you pack up your items and have Allied Van Lines haul your belongings to a new location, be sure that you have a great place to live. There are many people who have to travel to the destination where their new job is located to look at multiple dwellings in person. You want to be sure you physically see any apartment or home you are considering before you actually move to ensure that you do not agree to live somewhere that is not safe or is in dilapidated conditions. Once you have toured the options that are available, you can make an informed decision about which one is right for you.

Have the Utilities Turned On

The last thing you want is to arrive at your new residence only to not be able to turn on the lights when you try to turn them on. Turning on the water and power before you arrive to the new place will ensure that you are going to be able to start making the house your home as soon as possible. Many companies require you to put down a deposit if you have never had a bill with them in the past.

When you have utilities turned on in your name, you may have to send the utility companies faxes of a copy of your driver’s license, as well as a rental agreement or mortgage contract for the place that you plan to live in when you arrive to the new city. This is to ensure that they do not turn on the power or water in someone’s name who is not living there.

Plan Your Move Well Before You Need to Arrive at Work

It is important to provide yourself with plenty of time to be able to unpack and adjust to your new environment. It is best to provide yourself with at least a week to two weeks to move everything that you need to move. Most companies understand that moving to a new location takes time and will give you the time off that you need if you ask them for it. There are even some companies that will help pay for your move to make the process easier for you since they are requesting for you to relocate.

It will take time to adjust after moving to a new location. Being able to get all your belongings to a cozy, new home as quickly as you can and start unwinding will ensure that everything goes as smoothly as possible.

What is the best accounting software for contractors?

How to choose an accounting software package that suits you and your business needs. 

BBC presenter loses IR35 case owing £419,000

A ‘life-changing’ tax debt faces a media veteran who says she’s a scapegoat.

HMRC banishes ‘rank’ contractor loan scheme advert

Taxman gets some of the claims of an ‘IR35-compliant’ solutions firm taken offline.

Contractor confidence falls again as pressures rise

Feeling the squeeze amid uncertainty, contractors feel up against it on multiple fronts.

Contractors' Questions: Which IT security skills do London clients want?

What’s sought-after in cyber security right now is simply too numerous to list.

Contractors’ countdown to GDPR begins

Only 99 days to go until your data responsibilities are overhauled. Will you be ready?

Contractors' Questions: Which IT development skills are hot in London?

Agency reveals what’s going on in the city’s DevOps and Development spaces.

City recruiter sees IT contractor pay jump 12%

A few forces against IT contractors are overrun by those in favour of them.

Online Accountant Software

Links to IT contractor 'umbrella' and IR35 'solution' providers.

IT contractor demand grew slightly in January

More than a dozen types of IT contractor are proving hard for agencies to source.

IT contractor demand grew slightly in January

More than a dozen types of IT contractor are proving hard for agencies to source.

Ministers agree to make vast changes to contract work

Almost all the Taylor Review gets accepted, to the approval of contractors’ supporters.

The only techie in the village! IT expert upgrades locals’ ‘hopeless’ broadband

Pubs and a fed up CTO unite to bring Iken into the digital (non-buffering) age.

Switching contractor accountants

How to choose the right accountant for you and find the right time to make the switch. 

Contractors' Questions: Is my overtime rate being calculated unfairly?

‘Don’t get hung up on how your agent tots up time-and-a- half, or do and find another.’

Tax returns prove too much for 746,000 self-assessors

Deadline, what deadline? Droves still to settle up, and staring at £100 fines.

Contractor’s guide to contracting in China

Overcome big barriers the Chinese put up, to be blessed with many potential benefits.

What an IR35 Forum member makes of December’s meeting

A call to action is among the departing thoughts of an IR35 Forum founding member.

IR35 reform coming sooner not later, says HMRC

Tax staff speak (three times) of an ‘immediate need’ to fix the private sector flouting IR35.

IR35 reform coming sooner not later, says HMRC

Tax staff speak (three times) of an ‘immediate need’ to fix the private sector flouting IR35.

IR35 Forum: December 2017 meeting at-a-glance

Who said what, and what’s afoot with the off-payroll rules and IR35’s future.