If your employees are required to complete purchases on the company’s behalf, it can most certainly be a hassle. Corporate credit cards are not granted to all employees, the process of reimbursement is often drawn out and convoluted, and petty cash receipts are easily lost. All of these traditional expense means are being passed up and phased out. It is time to seek alternatives that will simplify your disbursement management process, ultimately saving your company valuable money and time. [Read more…]
Casino banking comes to Vegas
In the freezing desert night air, helicopters delivered their hot cargo of high rollers to the casinos’ roof-top helipads. On the neon-bathed Las Vegas strip, Jay-Z, the rapper, counted down the clock to midnight and blasted out Vegas State of Mind, backed by Coldplay.
The Correct Way of Using Trading Software At XFR Financial Ltd
Many people trading in foreign currencies tend to believe that on employing forex trading software they would be able to trade successfully by merely pushing a button or two and they can sit back and relax while the computer does profitable trading for them.
The Power Of Forex Software
Should you be also among such traders who believe in such magical powers of forex trading software, you are sadly mistaken. You should understand that no software is capable of making you a superior trader on its own. This may be very depressing for lazy traders but those who work hard to understand the implications of this trade would know it already. There are no shortcuts to successful trading; it demands discipline and hard work. Yet, hard working traders at XFR Financial Ltd will find software of help for redefining their trading strategies or plans.
Work Hard At XFR Financial Ltd And Succeed
Once you understand that there is no substitute for hard work, you will find trading software to be of immense help. It helps you to realize how good or bad your trading plans are. The most helpful feature of good software is that it prompts you to think and act more logically as it eliminates the element of emotion from your trading. Those in the trade know very well how adversely emotions affect their trading, even XFR Financial Ltd experts can tell you a lot about this. Majority of unsuccessful traders are those who fail to overcome emotions like greed and fear. If you want to make substantial gains, it is vital that you trade logically without involving any emotions. It’s not long ago that majority of traders had to work hard and spend a lot of their time to develop their trading strategy for trading successfully to some extent. Despite their first class trading strategies, many traders failed to trade gainfully as they lacked understanding of trading psychology. The availability of trading software now helps traders to alleviate the shortcomings of human mind and emotions that tend taking hold of them.
Learn The Fundamentals Of Forex First
If you really want to derive the most from software, it is recommended that you first comprehend the fundamentals of trading with XFR Financial Ltd. It is also recommended to try maximum possible number of your strategies to find out the one that most suits your style of trading and proves rewarding for you. Something that worked great for one trader may fail to work the same way for another trader. Do not jump to buy any software unless these suggestions make sense to you. Even if you are unable to comprehend trading in its totality, you need not be afraid of investing in software as it makes you learn many things once you start using it.
The sooner you learn to suitably mix your learning of fundamentals with software XFR Financial Ltd provides, the sooner you can be a successful trader. Use of software equips you with agility and tools that majority of traders lack. It enables you to educate yourself. You’ll be able to try your ideas more objectively. What people typically lack is a logical way of analyzing their strategy without losing their money in forex market. Though demo trading is a good, helpful option, particularly for beginners to this trade, it certainly is not the real trading!
Self-Assessments – Do they make your tax situation less taxing?
For the self-employed tax can prove to be quite a headache. Those lucky enough to be in full-time employment and paid via a PAYE system are in an incredibly fortunate position of having all their tax calculated and deducted automatically each month before they see any money. Some that are self-employed may look at this method with a certain amount of envy, however they will raise a wry smile in the knowledge that they are in full control of their finances.
In the UK there is a self-assessment regime that puts the onus on the individual to calculate their tax liabilities each year and ensure payment reaches Her Majesty’s Revenue and Customs on time. Failure to pay on time draws hefty fines that only increase the longer any tax owed goes unpaid. Fortunately to make it easier for everyone the national tax year runs between the same dates each year and the submission dates also do not move. For those that have been completing self-assessments for a number of years it can become second nature, however for those entering self-employment or starting a business it can become a minefield of confusion and stress. So, how does the self-assessment process work and does it mean you get a better deal for the effort?
The Self-Assessment Cycle
In the UK the fiscal year runs from the 6th April through to 5th April the following year – for example the current fiscal year is 6th April 2015 to 5th April 2016. This is the period that all self-assessment tax returns have to be based on. For most people the self-assessment form they complete will be a SA100 and this has a different due date depending on whether it is submitted online or via post. If you complete the form online you have until the 31st January after the end of the fiscal year – so for 2015-16 you will have to submit by 31st January 2017. If you do not have access to the internet or wish to submit a paper copy via post, this deadline is brought forward to 31st October. If the paper deadline is missed the only option is to submit your tax return online, otherwise there are some quite hefty fines that can be imposed.
With regard to penalties, there has been a relatively recent amendment to the law which now allows HMRC to impose fines that are greater than the due tax. This means that a late filing of your tax return will see a minimum of £100 in fines imposed. If you surpass the 3 month mark you start being charged a £10 per day fine up to a maximum of £900, over 6 months you are fined an additional £300 – or 5% of the tax owed if higher – and over 12 months would see an additional £300 fine imposed, or the 5% if higher. The fine system is in place to deter people from not submitting their returns – although 890,000 people, or a staggering 9%, still missed the deadline in 2015 despite regular advertising on TV, radio and online.
Tax Relief
When completing your self-assessment you need to input all the details of any income you have received from any source, but you should also claim back all the tax relief you can. You can legally claim certain expenses. These include running costs of a car – petrol, car tax, insurance, repairs and servicing – although it is based on the mileage you completed for business purposes, running costs of any business premises and any salaries you pay to employees. The often forgotten claimable expense is for a home office, if there is a space that you use for over 25 hours a month for business purposes you can claim a flat rate of tax relief for that space.
Working with a chartered accountant and financial advisor will help you make the most of the tax relief available to you as they will know the law inside out, as well as details of your financial situation. Even though there is a cost attached to financial advice, more often than not they more than pay for themselves through tax relief and claimed back tax each year. It is always a good idea to work with an accountant or financial advisor to help you plan ahead and make the most of your income.
Being self-employed does not have to mean that your tax situation has to be difficult. With some basic organisation and forward planning you can find yourself in a favourable position. If you take advice from financial professionals this position can strengthen even further.
Article provided by Mike James, an independent content writer in the financial sector – working alongside a selection of companies including Chartered Accountants Wellden Turnbull, who were consulted over the information contained in this piece.
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