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When shopping for the right umbrella company for your freelance business, there are a number of things to watch for in a perspective firm. With all the promises and manipulative statements you see on the television, it can be difficult to know what to look for, so take your time and learn as much about the companies as you can.
First of all, many companies advertise themselves as IR35 compliant, but in reality, with the changes in the laws, all firms are. A company’s compliance is immaterial since the only option anymore is to be paid via PAYE, yet many companies use it as a marketing tool. One sign that a company is not trustworthy is if they claim that you can submit expenses without receipts. That may be true, but the HMRC will likely investigate the company eventually, and you will be held accountable for any expenses you cannot prove.
Pay particularly close attention to the company’s fee structure. Most charge a flat rate for the services they provide, but some charge a percentage of your wages. This can be bad, especially if you make good wages. The more you make, the more they will charge you, so look out for this type of plan. Also, check to make sure they charge no entrance or exit fees, or a penalty for early termination of your contract.
A good question to ask a perspective umbrella company is how quickly they pay. Some companies take too long to send invoices and release payment. This will leave you waiting to get paid. Also, see if they hold money out for things like holiday pay. This may be something you want, but if it isn’t, it’s best to know upfront.
Make sure they have good customer service. It’s great that they have a quick online system, but how do they do when you need to talk to a live person for assistance? If you call with a problem, how long will it take them to get you the help you need? Find out if you will have to deal with whoever answers the phone or if you will have a designated manager for your business.
Ask the umbrella company for client testimonials and references. Word of mouth is always a powerful statement about a company, so ask colleagues and friends for referrals. More than likely, they will have plenty to tell you about both good and bad umbrella companies, so use their experiences to your advantage. As long as you know what you want in an umbrella company and can ask the important questions, finding the right one will be easy.
Now Try – Umbrella Companies
Tags: Business, Finance, tax, umbrella companies
Posted in Taxes · September 2nd, 2010 · Comments (0)
The terms available for life insurance often last as long as 30 years and are relatively inexpensive. If, however, you are looking for this insurance for your life and are denied, there may be a few good reasons why. Here is a list of how a person could be denied term insurance.
Smoking – If you are a smoker your expectancy for life is a lot shorter than non-smokers. This is taken into account when purchasing life insurance. The premiums will be higher based on this information. Since you are a risk to the insurance company, the rates reflect in the insurance costs.
Obesity – People who are overweight are exposed to and have a higher risk of life-threatening ailments, from heart disease to diabetes. The Body Mass Index is a useful tool in determining obesity and its inherent health risks. These risks are taken into consideration for the premium rates established by the life insurance company, and these rates tend to be high.
Existing Health Conditions – Life-threatening health conditions such as diabetes, high cholesterol, diabetes, depression and asthma can increase a person’s chances of dying. These conditions, if approved for life insurance, will often result in the policyholder paying a high premium.
Thrill Seeking – A person who may be a bit of an adrenaline junkie could find themselves disqualified from life insurance. Although it is commendable that a person has a hobby they enjoy, if it is something that increases risk of injury or death, like sky diving, scuba diving or flying, it will ultimately result in a hefty premium. Some careers are even at risk for high premiums due to danger as well; military service personnel may find themselves ineligible for life insurance.
Falsification – When a policyholder passes away, their insurance company may require an autopsy be performed to pinpoint the exact cause of death. If the death was due to some illness or habit that was not disclosed on the application, that would prevent the insured’s dependents from receiving any of the benefits of the policy.
Life insurance is extremely important to carry as, unfortunately, death can occur at any time. It is important to make sure that your loved ones will be taken care of in the event that you pass on unexpectedly. In addition to your family’s grief over losing you, having to deal with worrying about what their quality of life will become should not be something else they are concerned about.
Get in touch with your insurance agent today to explore different options for life insurance and get a few quotes. Although it is not a pleasant subject, your agent can help you make this process as painless and swift as possible by explaining the policy details and how much coverage you need for your family. Purchasing life insurance can be simple, and is definitely necessary.
Now Try – Life Insurance
Tags: Finance, Insurance, life insurance
Posted in Insurance · August 26th, 2010 · Comments (0)