Tag Archives: 101 Solutions

101 Solutions can use Limited Company Structures to lessen the tax burden on contractors. If the money is removed tax efficiently from the company, contractors can keep more of their money.

101 Limited Company Structure gives Greater Returns

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101 Limited Company Structure

101 Limited Company Structure

The 101 Limited Company Structure allows you to make drawings from your company in the most efficient way in order to save the maximum in tax for UK contractors. It is important to make drawings from your company in a very structured way if you are to save the most money.

The 101 Limited Company Structure means that you can get the best return on the marketplace. It does that by implementing an efficient and safe structure. It is fully compliant with GAAR and also with all current and known future tax legislation changes.

All of the tax planning strategies are fully compliant with UK legislation. This has been ratified by Queens Council opinion, as well as in-house barristers.

Bookkeeping and Accounts

Those operating the 101 Limited Company Structure, do all the accounts including bookkeeping and invoicing, as well as annual returns. They can also advise on investment strategies for contractors in order to maximise their income.

By using a 101 Limited Company Structure you can increase company profits without any increase in sales. In fact, using the 101 Solution is the quickest and easiest way of raising company profits.

Most contractors, without realising it, operate in a very tax inefficient way. As a result, they pay far more to the taxman than they need to do. The 101 Limited Company Structure will help change this.

Inefficient UK Contractors Wasting Money

UK contractors tend to act in a very tax inefficient way and this holds back both their businesses and their profitability. It means they have to work for more years than they need to.

One company has been operating the 101 Limited Company Solution for contractors for 9 years now. So, they know what they are doing. They have helped many contractors this way.

To find out more, just click on 101 Limited Company Structure Solution or to apply just click on 101 Limited Company Solution

offshore umbrella company list

Offshore Umbrella Company List

Isle of Man Umbrella Companies happy with Budget

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Isle of Man Umbrella Companies for contractors

Isle of Man Umbrella Companies

Isle of Man Umbrella Companies are happy with the latest budget.

The Chancellor took aim at tax avoidance in his budget today – especially offshore tax avoidance. However, the Isle of Man Umbrella Companies appear to have got away relatively lightly compared to Jersey and Guernsey.

The Chancellor has acted on the intermediaries tax loophole where UK companies avoid payroll tax by routing their payroll offshore in places like Jersey and Guernsey.

Isle of Man Umbrella Companies

Isle of Man Umbrella Companies for UK contractors

Often the temporary workers used by those UK companies didn’t even know it was happening. This is even though it could have led to them losing sick pay and maternity pay entitlement.

Illegal Schemes

However, these schemes are illegal in the Isle of Man and one company was fined for trying to operate one.

The Chancellor also said that he would work with the Isle of Man, Jersey and Guernsey over disclosure. However, the former has been ahead of the game here and has worked closely with HMRC and the Government.

The people targeted are those who hide money in offshore bank accounts.  It’s not about contractors who use offshore umbrella companies.

The companies will feel that they got away relatively lightly.

Contractors can retain 85% of their income by using these companies. Many contractors are now doing so.

Here is one here:-

Compare the Umbrella

 

Office Holders Boost for Offshore Umbrella Companies

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Office Holders

Office Holders IR35 Legislation

The Chancellor has given Offshore Umbrella Companies a major boost by his new office holders changes to the IR35 legislation. The more that the Chancellor tries to move contractors out of Limited Companies and into Umbrella Companies the more contractors now approach offshore umbrella companies about operating through them. They have been thriving recently.

Of course, the Government would like to knock these out. However, this is proving difficult for them as the companies are not in their jurisdiction. Also the courts have ruled that the system that they use is perfectly legal.  This is where contractors are given loans rather than paid income.

PAYE Umbrella Companies

HMRC and the Government would like to see all freelancers in PAYE Umbrella Companies. They don’t want them in Limited Companies. They certainly don’t want them in offshore umbrella companies. However, their policies appear to be driving more and more contractors that way rather than becoming an effective employee of an onshore PAYE Umbrella Company.

IPSE Survey

There’s a lot to play for here. An IPSE survey showed that there were now 1.6m people who call themselves Freelancers in the UK. Only 200,000 of these are in Umbrella Companies. The Government take around £10,000 in tax and NICs more from an Umbrella Company contractor than a Limited Company contractor. There is a lot of money at stake for the Government. So, they want to herd as many contractors as possible out of Limited Companies and into Umbrella Companies.

However, if those contractors leave the onshore companies, and go offshore, the Government gets nothing at all in tax. They appear to be helpless to prevent this. This office holders legislation will cure nothing.

For a review of offshore umbrella companies see Offshore Umbrella Companies