Tuesday, March 29, 2011

Contractor Tax

Contractors working through their own limited company usually take home between 75% and 80% of their contract value on the average. And the type and level of taxes one contractor needs to pay wholly depends on how you structure your finances and on your IR35 status. The amount of tax you will pay as a contractor through your own limited company comes in two different forms. One is the tax you pay through your company and another is the personal taxes you pay for.

If the personal tax you pay for is covered by the IR35 status of your contract, you will pay higher taxes so it is best to remain out IR35. Contract not under IR35 take the low salary path coupled with high dividends coming from company profits. The net company profit is subject to 20% corporation tax. Corporate taxes varying from 0% to 30% applies to all limited companies. Small computer companies pay the 20%tax rate.

Contractor Calculator
It lets you compute for your net income from a contract. Free contractor calculator can be secured online to give you illustrations of the possible amount a contractor could take from their contracts. Full tax planning is assumed for working through limited companies in some of these calculators.

Contractor Tax Solutions
There are many companies offering services that help lower down contractor taxes. You can get tax tips on how to survive as a Contractor or Freelancer. Some offer getting flexible temporary workforce as ideal solutions for employers. Looking out to the interim and contractual jobs market to meet staffing demands can make the employers less nervous about taking on permanent staff members. It is one of the ways in which businesses meet its increasing customer demands.

Times are tough during recessions, so getting advantage of every government scheme or piece of tax saving advice is always a welcome relief. Construction industry sub-contractors retain their gross payment status by having a clean tax record. This important if they want to go around paying for a 20 per cent sub-contractor tax.

Gen’s handmade Giveaway

Five lucky followers will win fabulous prizes from Mommy Gen’s handmade Giveaway!

1st prize (1 winner)
cloth diaper
1 pair pink pearl earrings
2 sets of Friendship cards
4 sets of mini notebook

2nd prize (3 winners)
1 pair pink earrings plus 2 friendship cards

3rd prize (1 winner)
6 sets of Bamboo Thank You Cards
1 set of Celebrate b-day card

Made By gen

This giveaway is made possible by Mommy Gen's generous sponsors:

Momgen’s Corner
Gen Card Corner
BunnZoo Boutique

Giveaway runs until March 31, 2011

Let Zlio Work for You!

I’ve got to say - having my own online shop has been something I’ve always wanted to do… And recently, I've managed to get my heart’s desires - and all in under 5 minutes! I built my store by choosing a few products I liked from a catalogue of over three million items, and every time someone buys something from ‘me’, I get a
10% LIFETIME commission!

All thanks to a fantastic service called Zlio - no technical knowledge required, of course, and you don’t even need to handle the products yourself (they’re shipped directly from the merchant to your ‘customer’).

Why don’t you have a go?

To be honest, I also have a bit of a vested interest in letting you know - Zlio gives me 10% of the commissions of any member I refer (without your losing out, of course!)… But, if you then refer people yourself, the same applies to you!

1st Blogversary Giveaway at Nail Addicts Anonymous

Join Mari and Lissi of Nail Addicts Anonymous as they celebrate their first blog anniversary to win 80 bottles of polish and some nail art supplies!

Prizes up for grabs -
Cheeky Monkey Whatever
China Glaze Ick-a-Body, Peace on Earth, Peachy Keen, Recycle, Zombie Zest
CND Rich in Sin
Color Club Hot Couture, I Believe in Amour, Oh Naturale, Pardon my French,
Take me to Your Chateau, Turn the Other Chic
Deborah Lippmann
Wicked Game
ELF Bubble Gum Pink, Fair Pink, Fire Coral, Fluorescent Pink, Fuschia, Hot Pink, Light Pink, Medium Red, Nude, Pearl, Plum, Punk Purple, White
Essence What do u Think?
Essie A-List, Bermuda Shorts, Breezy Beach, Deep Pockets, Meet Balls, St. Lucia Lilac, Watermelon, Wicked, Wiggle Room
Nailtini Spritzer
Naughty Nailz Creamy, Divorce Court, Late Night, Lip Service, Morning After, Oral Sex, Pounded,
Red Hot, Secret Carpet Burn, Spank Me, The Big O
(and other names I just wont type here....LMAO)
Alpine Snow, Mrs. O'Leary's BBQ, Not in KS Anymore Red,
OPI & Apple Pie, Parlez-vouz OPI?, Pistol Packin' Pink, Sand in my Suit
Orly Bon Bon, Glitz, Iron Butterfly, Luxe, Opal Hope, Pink Slip
Perfect Color Giverny, Color Jardin, Sunrise
Pronto WEC 9, 204
Rimmel Spice, Romance
Sally Hansen Xtreme
Cherry Red, Deep Purple, Disco Ball, Red Carpet
Sinful Colors Sea you Soon, Show me the Way, What's Your Name
Stila Pandora
ULTA Black Lace
Zoya Veruschka

Giveaway runs until Friday, April 8th at 11:59pm. Winner will be announced on Monday, April 11th.

500 follower giveaway at Gilded Nails

Follow GildedNails for a chance to win 30 bottles of polish, nail care goodies and one mega makeup surprise as well!

This contest runs until March 31, 2011 and is open to international followers.

Wednesday, March 23, 2011

Win Lush Product from Steph's Stuff

Five (5) winners will be drawn for this Lush product giveaway, in which the winners get to choose their prizes!

The Grand Prize winner will get to choose one from these gift packs

2nd and 3rd prize winner get to choose one from these sets

This competition runs until April 28, 2011 and is open worldwide.

The Miscellaneous Me Fashion Giveaway

Three giveaway prizes courtesy of Miranda Miranda's Accessory await you at The Miscellaneous Me.

Contest runs until March 31st and is open to bloggers with address in the Philippines only.

For the First Time giveaway contest

I am joining Kurdapya's contest for a chance to win this kurdapyazcollection.com's gorgeous bag.

You simply had to follow her Facebook Fan Page to enter. Check her other blogs-- Motherly Instinct and Simply Filipina for additional points.

Contest runs until March 31,2011 and is open to international followers.

Monday, March 21, 2011

Miss Princess Giveaway

Here is another fabulous giveaway at Charlotte, Our Little Princess!

To join -
1. Follow her on Google Friend Connect
2. ”LIKE” Charlotte Victoria - Fanpage HERE
3. Place the giveaway button on your sidebar
4. Blog about her giveaway
5. Leave a comment why you want to WIN?

This giveaway runs until March 28, 2011 and is ppen to Philippine Residents only.

Smart Move to SmartBro will perk you up!

Nowadays, I use the internet to connect with old friends and relatives in far-flung distances. It has made possible realtime photo sharings and updates on each others' lives anywhere in the world! Aside from these, the internet has opened up a world of opportunities for me to earn extra money online and stash freebies by joining in facebook and twitter contests.

If you like sharing photos with friends and love joining in online contests, now is the perfect time to subscribe to SMART Bro Home Unlimited Broadband at Php999 or Php1,999 because it comes with the following freebies:

Free All-In-One HP Printer
Free Call & Texts with SMART Gold Lite Plan 300 for 6 months subscription
Free 1 month broadband subscription

The HP Printer is a welcome freebie for printing out captured fond moments on my digicam. The FREE Call & Texts with SMART Gold Lite Plan 300 for 6 months subscription would definitely lower down my cellphone bills! The 1 month FREE broadband subscription will surely satisfy the Facebook and Twitter contest in me!

So wise up, and don't pass up on this Smart Deal!

YOU have to visit SMART Wireless Center nearest you ASAP since the Smart BRO Unlimited Home broadband promo is up to June 4, 2011 only! Per DTI-NCR Permit No. 1871, Series of 2011

This is my entry to the Nuffnang and SmartBro's Broadbandest Blowout Blogger Contest.

How an Umbrella Company Benefits You

Contractors whose contracts were caught by the IR35 law affected the growing demand for new umbrella companies. The umbrella companies proved to be to most sensible way to go for short-term IT contracts.

It is wise to get recommendations from your IT contractor peers or recruitment companies in choosing an umbrella company because of the big number of umbrella companies offering similar services for almost the same price. An efficient service is a more important aspect to look out for in any umbrella firm rather than the fees you pay for.

By understanding the advantages of setting up an umbrella company, you may be able to decide on which business model is best for you.

You may finally settle in considering a contracting career mainly for the ndependence. It gives you an opportunity to maximize your skills, to independently set your own working hours at your own pace. It gives you a free hand to balance family life and work and so on. Do you like the challenge of managing your own finances? If you are more attracted by the opportunity to sample a wide variety of working environments then a contractor umbrella company will work well for you.
An umbrella company has the following advantages:
a) saves you headaches from major challenges facing first time contractors such as operating procedures, payroll, managing your taxes, finance and more if you deem it as unwelcome distraction from your work
b) no overhead costs for setting up a limited company
c) no fees for shutting down a limited company if you are in it for a trial period only
d) one advantage of incorporating a company through an umbrella company is that it becomes more tax efficient. Contractors of limited companies get small salaries and get high dividends as remainder of their income
e) limited personal liability of the director in case something goes wrong with the business.

Thursday, March 17, 2011

CONTEST ALERT: free 100 pairs of tickets from Qatar Airways

Subscribe to Qatar Airways 100th Destination e-Newsletter Promotion and you automatically get a chance to win Economy Class Qatar Airways tickets for you and your companion!

Just fill in your details HERE with your valid email address.

Promotion ends April 16, 2011

3rd blogversary giveaway at Shen's Addiction

Shen's blog is celebrating her 3rd blogversary with a grand giveaway contest!

She will be giving away prizes sponsorored by Pond's, Bobbi Brown, Avon, Kiehl's, Ellana, The Body Shop, Kerastase, Neautrogena, House of Obagi, Revlon, Sakura Bella, One Naturales, Clinelle, Maybelline, L'oreal Paris, L'oreal Professionel, Myra and many more!

Series of Draw
March 23: First batch of winners
March 30: Second batch of winners
April 6: Third batch of winners
April 13: Fourth batch of winners

Tuesday, March 15, 2011

First Giveaway at Make Up is My Medicine

Join in the giveaway at Make Up is My Medicine before March 21 for a chance to win -

EOS lipbalm with SPF 15 in "Lemon Drop"
Sugarpill Chroma lust Loose Eyeshadow in "Magpie"
Sinful Colors Nail Polish in "Innocent"
NYX 5 Color Shadow from The Caribbean Collection in "I Dream of St. Lucia"
Wet n' Wild new 2011 Trio in "I'm Feeling Retro"
NYX Doll Eye Mascara Volume in "Extreme Black"
Victoria's Secret Beauty Rush Mascara in "Violight"
NYC Eyeshadow Duo in "Island Sunset"
One Dollar Eyelashes false eyelashes (2 pairs)
IPD Asian False Eyelashes (1 pair)
Bobbi Brown Mini "Crystal" Lip Gloss
Kate Somerville Tanning Towelette for Face & Body

Thursday, March 3, 2011

Klay Girl's first year anniversary giveaway

Klay Girl is celebrating its first year anniversary by giving away one Plants Vs. Zombies Key Charm!

To enter, you must -
1. Follow her blog using Google Connect, or Facebook Networked Blogs.
2. Like the Klay Girl Facebook Page.
3. Leave a comment with your facebook and google friend connect name used in following the required sites

Contest ends March 5, 2011

Get your fashion fix at MySparkleshop.com

Create that Classy Chic or Hip fashion look!

Get that stunning, fashionable look that you've always wanted anytime, anywhere!

Promote My Sparkle Shop on your blog and get a chance to win this gorgeous pair of shoes valued at 1450 from Miss Carizza Chua.

Don't forget to like the My Sparkle Shop Facebook page!

Wednesday, March 2, 2011

100 Follower Giveaway!

Join in Samantha's 100 Follower Giveaway to take this loot home -

Cath Kidston 'Tips For Vintage Style' handbag sized book
Handmade luxuriously softening Cocoa Butter Bath Melts (rose and lavender)
Handmade fizzy bath bombs (rose and lavender)
'The best of Cadbury's Chocolate cooking' yummy recipe book
Soap & Glory 50ml Flakeaway body polish
Soap & Glory 75ml Clean Mary cleansing milk
Bath bombs and melts (handmade)

Contest ends April 1, 2011

St. Patrick's Day Giveaway

Join Lulla as she celebrates St. Patrick's Day with a giveaway for her followers!

There will be two winners -

First prize:
A bag of Lindor Truffles
Victoria's Secret Beauty Rush body mist in appletini
Cutex Nail Polish Remover
Sally Hansen Nail Growth Activator
Nail File
EOS in Tangerine
W&W: Hallucinate and Sparked
Jesse's Girl: JulieG
oke doke: steal this teal and Pink This
Petites Color Fever: Periwinkle
Sinful Colors: Show me the way

Second prize:
Handmade Glass Bracelet

Giveaway ends on March 17, Saint Patrick's Day celebration

$50 gift certificate at Baby Gear Today

My daughter and I loves playing dress me up games at home. This Pink and Gold halter dress in satin would be perfect for her. It comes in a peony pink satin bodice and underskirt, and a two-tone tulle shirt in antique gold and copper.

Win a $50 Olivia Kate Couturegift certificate to get one of her stunning couture girls dresses at @babygeartoday by sharing what dress you'd like to spend it on if you win.

Contest ends March 20, 2011 at 11:59 pm Pacific Time.

win a Dinair Airbrush Makeup Kit

Lady CrowX is holding her May the Fourth Be With You Giveaway to celebrate the day she marries her fiance.

You will get a chance to win a Dinair Airbrush Makeup Kit by simply subscribing to her blog.

For additional entries:

Tweet this -
Follow @LadyCrowX @LadycrowX for a chance to win a @Dinair Deluxe Airbrush Kit http://bit.ly/hwRtGi

See full contest details at the contest post

Grand giveaway ends on her wedding day May 4th, 2011 11:59 EST
Winner must respond within 48 hours, other winner another winner will be picked.

Win a $92 dress

Win a $92 dress from Shabby Apple on Posh on a Budget!

To enter, you must -
1) Follow via Google Connect public follower
2) Subscribe to her email newsletter and confirm subscription.
3) Visit the Women’s Dresses from Shabby Apple and comment on a dress that you like

Contest ends March 11th

Pink Fabulous Giveaways!

Checkout the awesome giveaway at Pink Thoughts and get a chance to win one of the six prizes!

Pink Thoughts, is the home blog for the meme Pink Fridays . and invite them awesome giveaway

This giveaway is made possible by her generous sponsors -

Pink Thoughts | Bratty Bonita Laptops and Netbook Bags | The Working Mommy | Fashion and Passion Online | Nik Meets Pink | Eye for Fashion | Cheap Wordpress Hosting | Life's Digital Moments | Caffeinated Muse | All in One Woman | The Business Minded Mom | Friendship and Smiles | Feeling Traveler Aketch | Twen Teen Mom | All Things Kawaii | Crayons and Pencils | The Life Encounters | Pinay Mommy Online | Proud Mommy of Three | Three Kids Plus Me | The Filipina WAHM | Free Blog Directory | I Luv Contest and More | Photo Memeries | Easy Tasks Info | Learn to Earn from Home | Pink Fridays

Giveaway runs until March 31, 2011

Contractor Calculators

A contractor is defined as a person or firm that contracts to supply materials or labor on a fixed rate. A contractor calculator is also known as Limited Company Calculator. It is an online tool that lets you compute for your net income from a contract. You need to enter your hourly rate and IR35 status and the Contactor Calculator does the rest.

Free contractor calculators can be secured online to give you illustrations of the possible amount a contractor could take from their contracts. It can be used to obtain up to 48% tax relief for contractors. Using the Contractor Calculator lets you transform your taxes to income and reduce the pains of IR35.

Full tax planning is assumed for working through limited companies in some of these calculators. Contractors working through their own limited company usually take home between 75% and 80% of their contract value on the average. It is a means to estimate your take home pay earned from a Limited Company or Umbrella Company and answers how much you earn as a contractor.

These financial calculators are recommended for contractors, freelancers and consultants. It can be used to calculate income taxes, net pay and contractor taxes. You have to key in the Yearly Contract Revenue, Aggregate Gross salaries, Annual Expenses including pension contributions, subscriptions and travel plus any Additional Annual Income which includes but not limited to rent received and bank interest. Supply all these data and the Contractor Calculator will do the rest for you.

Have you heard about IR35?

No one likes paying taxes. To get around paying taxes on wages, many people employed ways to pay little tax as possible on their wages. Employees of small businesses favored being employees of a contracting company, which subcontracts hired their labor out to other company. In effect, the collected waged in form of dividends which are not subjected to taxes.

Many IT professionals began quitting their permanent jobs and return to do the same job as a contractor through a limited company. By being independent contractors, these people are able to save a lot of money on taxes and even get paid more for the same job they were doing previously.

Soon, the small business owners saw this opportunity and so became freelancers who started drawing income from their limited companies in form of a small salaries and large dividends. Since large companies received large tax allowance which common working individuals are not entitled to, individuals treating themselves as companies can actually make more tax-free money. They even spread out ownership among family members to keep everyone in a lower tax brackets.

Hence IR35 was coined to ensure that the freelance contractors would be subjected to the same tax rules as a person carrying out the same task under regular employee conditions.

Inland Revenue looks at the overall work set up to classify if person is ‘employed’ or ‘self-employed’ subject to the IR35 rules. It defines an employed person as someone who works from 9AM-5PM on a client site who has not provided own tools to complete tasks and is thereby subject to the IR35 rules. On the other hand, it defines a self-employed or contractor an one who fulfills for multiple clients in the comforts of his home using his own equipment to complete the job required.
Employment contracts falling covered by the IR35 rules, receive 5% allowance to cover intermediary expenses on top of pension contributions and contractor insurances. Their income comes in form of deemed payments.

In effect, the tax benefits of freelancing through a personal limited company were greatly reduced when the IR35 law was enacted in 2000.