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Useful advise, tips and business news.

Blog

Useful advice, tips and business news.

Nov 4, 2014
May 5, 2021

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Making the most of team meetings

Team meetings are a great way to increase employee productivity, report problems and improve employee development individually in your company.

How often do you have organised team meetings to see participants where they walk through the door of the conference room, sit down and talk with their neighbour or read the program, but have no eye contact you? For a constructive meeting, and to run events in an energetic and positive note, it`s best to encourage people to participate in the meeting.Before people enter the conference room, you want the vibe to be optimistic, energetic and ready for action, and the participants will naturally imitate your actions and mood. However, if only one person shows negative body language, it can have a negative effect on mood, so you need to be careful.Open the meeting with an icebreaker before informing people why the meeting was called and what your goals are. You can open proceedings with a game, and can ask people to write on a piece of paper something others do not know about them and put them in a bowl on the table. The group may then try to guess who it belongs to, which relaxes the members of the congregation.Thank people for their contributions and acknowledge any successes, no matter how small they are. You can also ask people to remind their team of the actions that they are responsible for, so it can be controlled if people aren't invested in the topic of the meeting. Before the end of the meeting, relate the conversation back to non-compliance or concerns.

How to improve one-on-one meetings

Individual meetings with your team are a great way to increase employee productivity, report problems and improve employee development individually. This is why it is so important that manager`s monitor the time for regular meetings with employees individually.If you do not already have one on a regular basis, you should think from now on, and if not, consider implementing the following:

Make it every day

Celebrating a casual meet is a great way for employees to feel comfortable. The meeting could be a cafe or bar, not an office or conference room space, for a more relaxed feeling to get the most out of their employees.

Lunch

Organised meetings for lunch are perfect for those times when you want to link to an employee and get to know them a little better. They will be less self conscious and more likely to open on the table in the office table.

Input from the employee

Prior to the meeting, let the employee in on the schedule and points of discussion. By including them in the build-up, you can help them feel more valued and empowered in their work.

It should be concise

Meetings are usually long and boring and can become unproductive. Keep meetings short and to the point, and interesting to keep employees on board and committed throughout.

Keep track

It is always good practice to follow up on ideas and suggestions transferred in one-on-one discussions, if you're going to take full advantage of the time spent.Your Virtual Office London provides virtual offices and meeting rooms in London, if you are looking to hold a meeting we provide modern meeting rooms for your clients.

Nov 2, 2014
May 5, 2021

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Partly paid shares explained

On the issue of partly paid shares, the company has to collect the unpaid amount. To do this, managers requests notice to shareholders to pay the amounts.

On the issue of partly paid shares, the company has the obligation to collect the unpaid amount. To do this, managers may request a notice to the holders of the shares that asks them to pay the amounts. Here we look at the process of using this process, but will have to confirm with articles of association, as they may give you a different route to take. We will also see the process of how to make a call on shares of company`s plc; this is because there are more topics for these businesses to consider.1.The directors shall adopt a resolution to call on shares partly paid or unpaid. The needs identified for the resolution must be detailed within the meeting. The resolution, however, usually will have details of the cost of the call and the due date for the payment required.2. After this, you need to send a notice to shareholders who want to make a call. This will be the people who were originally issued shares. However, if the shares have been transferred, the last owner will usually have to pay all of the calls.3. When the due date comes, check all payments received against the expected. You should have received most or all of the payment due, and send reminders to those who have not paid if necessary.

A letter like this should state that:

  • Payment must be made immediately
  • If necessary, interest on the outstanding balance will be charged
  • The shareholder may lose fees if they do not pay the call

It is good practice to post another reminder if payment is not received within a reasonable time - say a week or two.4. Once payment is received, you will need to update your membership records. This is to show that the call is paid. If this is one of a series of payments, you may also want to have an updated schedule of additional payment.

You will have to modify and update the share certificates, including the following:

  • Cancellation of certificates of old shares;
  • Submission of updated shares certificates showing the amount paid for the shares
  • Updated registration certificates of shares of the company assets

5. Companies House have the updates to the status of capital of the company, and this can be found in the annual declaration.After a call to action, many companies make the decision to submit the next annual return early. This means that any data recovery from Companies House will quickly realise the position of the shared capital. This can make the end of the calling process seem more "official", although there is no specific legal reason to do so.If you enjoyed this blog brought to you by Your Virtual Office London you can read more business articles in our business blog here.

Oct 27, 2014
May 5, 2021

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Higher rate taxation and your dividend

When you start a business it is important to think about the type of company you will be and its consequences on your taxation and dividend liabilities.

When you start a business it is important to think about the type of company you will be and what consequences this will subsequently have on your taxation and personal liabilities. Your Virtual Office London provide free expert advice on this matter to all clients, more often than not it makes a lot of sense to become a Limited company and trade under this legal status. If you do own a Limited company you would often take your profit as a dividend. A dividend is taken by a shareholder, only a shareholder in the company can take a dividend, staff or employees are unable to do this if they do not own a share. A shareholder can take a salary and a dividend, depending your personal circumstance we would advise you to talk to us about your situation and how a dividend can help reduce your tax overheads.Dividends are subject to the highest tax bracket in which income is between £31,865 and £150,000. This is after taking into account the personal allowance that is taxed at 32.5%.Part of that obligation is represented by the dividend tax credit of 10%, but an additional 22.5% tax on the gross dividend is paid by the shareholder. In some cases, the dividend does not belong to any of the basic rate or higher rate tax bands, but rather include both. In this case, dividends will be taxed at the basic rate, and the remainder to a higher rate.Dividends, which are located in the additional rate tax band, will have a taxable income of over £150,000 and are taxed at 37.5%. Some of them have a tax credit of 10% of the dividend. This means that there is no tax of more than 27.5% of the gross dividend payable. This is equal to 30.56% of net dividend received.The shareholder must always be prepared to pay additional tax. This happens when the dividend income falls in the highest rate, or as additional rate tax bands. This means that the dividend will have to be set aside to meet tax obligations.This additional tax paid to HMRC, has a deadline of 31 January following the tax year in which the dividends are received.Persons are subject to its own declared dividends received under the tax refund.Due to the effect of a dividend on the overall fiscal position of the individual, tax advice from an accountant should be sought prior to the payment of dividends to your firm. This can also determine the optimal combination of wages and dividends. Shareholders may elect to waive dividends, but these exceptions should be made before the announcement of the dividend.

Oct 27, 2014
May 5, 2021

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How to properly greet people

Always greet people in a positive way, as it creates the right impression. You must special care to people who you have not seen or met before.

It is always important to greet people in a positive way to create the right impression. Of course, you should take special care to people who you have not seen or met before. Wether you have a virtual office or a mailing address you will still need to ensure when you meet a client for the first time you properly engage. First impressions are everything and something as simple as a greeting can have a lasting impression on your client.You want to get people in the mood to attend the meeting. For this to happen, it is important to make everyone feel at ease. Some participants may have had a stressful journey. Keep this in mind and be as careful as possible, and be sure to comply with professional standards. The following tips may be helpful to you:

Warm smile

A smile can go a long way to get a first meet just right. Shy people can fully appreciate a smile, even if they are about to enter the room for a family reunion. What's more, you can give them the confidence to perform well in the session. If you're a little unsure, practice your smile alone.

Eye contact

Eye contact is essential when welcoming someone new. However, it is important to not stare - you do not want anyone to feel embarrassed. If people feel inhibited before the start of the meeting, their nervousness may limit their participation to the detriment of the results of the meeting.

Shake hands firmly if necessary

A firm handshake may be a reasonable way to greet someone. However, not everyone likes this kind of contact; therefore adapt your behaviour to the situation that is before you. Also, see how to approach the person; do not feel tempted to sneak up on them, as this may have an effect that was not intended.

Oct 23, 2014
May 5, 2021

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4 great tips to increase your productivity

Four tips to increase productivity. All companies need to maintain high performance. It is important to develop specific procedures to increase the efficiency.

All companies need to maintain high performance. It is important to develop specific procedures that increase the efficiency of the collective. Many of our virtual office customers ask us how they can increase their businesses productivity.You`re probably trying to maximise the performance of your business right now. However, you may find that your positive intentions do not translate into action. It can be difficult to maintain general habits, especially if you are a person who finds it difficult to meet the New Year`s resolutions. Develop a plan for the whole team to come together and you'll be in a good position.

Prioritise work properly

Personnel work will not go well, if the work is not a priority. Important tasks must be performed prior to trivial matters. You must assign topics and activities rationally and within a reasonable time, or the quality of work may suffer if you do.

Avoid multitasking, if possible

Your team can not do it right if you are trying to do everything at once. It's a great idea to make the most of them focus on particular aspects of the project, who will then be able to concentrate.

Keeping things tidy as the work progresses

Being tidy is a must if you want your employees to be more effective. The office should not be allowed to become a mess for even half a day, so you may want to encourage people to eat away from their desks.

Colleagues should cooperate

While some tasks require a special unit, it is necessary to promote cooperation between members of the team and create a united effort. Someone can be re energised if they help another person achieve something. An act of kindness can be beneficial for both parties, so remind people of the value of teamwork.When a business achieves an efficient work flow and is properly organised an increase in productivity and output will be achieved. The business will then be properly positioned for growth and should see steady incline in new business.If you would like to talk www.yourvirtualofficelondon.co.uk please do get in contact with us today, we are always happy to help discuss your requirements and provide expert advice where needed.

Oct 22, 2014
May 5, 2021

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How are dividends taxed

Here’s an overview of the taxation of shareholders of dividends in the UK. Whether you own a business, you will probably take a dividend from the profits.

When the company makes a profit, the benefits paid to all shareholders are classified as dividends. Because of the potential tax benefits, small business owners often pay a dividend in both the salary and not just one or the other.Like any other type of income, someone with dividends from UK corporation tax will pay personally. This article provides an overview of the taxation of shareholders of dividends in the UK. Whether you own a business and run the company through a virtual office or work from home as a shareholder in a Limited Company you will probably take a dividend from the profits. We look to explain how a dividend is taxed;

How does the dividend tax credit?

To escape the double taxation of dividends paid by the company will pay tax or income tax, which is known as a tax credit for dividends to the shareholder shall be provided in order to avoid double taxation. This tax credit is offset by the income tax due on income from dividends.For now, the tax credit is 10%. The tax credit is calculated by dividing the amount of net dividend of 9 net dividend is then added to the deduction. This then gives the "gross dividend", which is the sum of income tax. This is the starting point that determines whether further tax is due.When a shareholder receives the dividend plus the tax that you pay, depends on the total income. This includes income from salaries and pensions, bank account and other savings or dividends received.Taxation of dividends are at the same prices, if you bring your own small business or PLC, which is listed on the stock exchange. The same is true for dividends received from trusts or open-ended investment companies. However, combining the interests of the corporation is subject to different rules, unlike dividends.

Here are three tax rates applicable to dividends:

  • The basic rate consists of a taxable income of up to £ 31,865 will be taxed at 10%.
  • The higher rate band, comprising of taxable income between £ 31,865 and £ 150,000 and is taxed at 32.5%. This part is included in the dividend tax credit.
  • A decrease in revenues from dividends in the band of another kind, consisting of taxable income of more than £ 150,000 is taxed at 37.5%.

The tax of 10% of the gross dividend received is completely covered by the tax credit a 10% dividend. Dividend income is taxed after the adoption of any savings and includes the use of or premiums.

Oct 22, 2014
May 5, 2021

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3 reasons why London is the centre of creative business

Creative business is an important contribution to the UK economy in this day and age. Find the three reasons why creative enterprises are located in London.

Creative business is an important contribution to the UK economy in this day and age. Most of these companies and corporations new and old - choose to be in London.These ambitious companies have different motivations to be in the capital. However, it is worth looking at some of these things if you want to go forward. If you are responsible for the organisation within the creative industries, then it may be worth the risk of being in London. If you cant afford a real office a virtual office in London could be suitable, however you should consider the following points if you're considering a decision of this type:

Network capabilities are necessary

You will not get far without all kinds of networking opportunities. If you decide to use a serviced office in London, then there are plenty of them to choose from. It is important to carefully think about the office location you intend to rent however, as some districts of London has many large network of high quality, but for high prices too.

Meetings are significant

Informal meeting places, such as restaurants, bars and hotels may be crucial for the development of your team. You want a place that is located in an area with a real buzz. You can learn a lot if you find the right neighbourhood.

It helps to highlight progress

The choice of London as the basis for an advertising agency is like a declaration of intent. What's more, it shows how far you've come. This shows that you are going to be competitive, and showing such faith in the future of your business can be a very positive step forward.

Oct 21, 2014
May 5, 2021

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What addresses are required when forming a company?

When applied to form a new company, you have to complete various addresses. Here’s a guide that explains what different types of addresses are needed.

When applied to form a new company, you have to complete various addresses. The requirements of the Companies House can sometimes lead to confusion, so this guide will explain the different types of addresses - including office management, administration, and secretary of address, correspondence address and home address common shareholder administrators - in short, why they are relevant.

Address of the head office

The company's head office; this is the direction in which authorities such as HMRC or Companies House will send all correspondence and legal documents. When thinking about your business address, you should bear in mind that:

  • It will appear on the public record.
  • Must be the same part of the United Kingdom, which is registered. For example, a company registered in England and Wales, registered office address cannot be in Scotland.
  • This could be your home address (but remember to be included in the public record).
  • If you do not use your home address, but not the owner of your property, you should check any lease, so you can use the address for commercial purposes.
  • You do not have to be the address of the trading business, but it could be.

Once your company has been formed, the law requires the disclosure of UK companies to include your postal address on company letterhead, business correspondence, requests, email messages, and the company's website.

Director / Secretary Address

This is the direction in which authorities such as HMRC or Companies House will send any correspondence with the director or secretary. When considering the directions, you should note that:

  • It will appear on the public record.
  • It can be anywhere in the world.
  • This may be the same as the location of the head office (but need not be).
  • This may be the same as the address of the worker (but note that will appear in public).
  • This could be the corporate address, because it is a complete address.

Each director's secretary may, if they wish, use a different directors service address or they may be one and the same. It is very common for the service address for all officers to be the same as the address of the company headquarters.

The usual residential address of a director

This is simply the address of the director`s house. Remember:

  • It will not be shown publicly.
  • This may be the same as the address of the office (remember that the address of the Office is disclosed on the public record).
  • This may be the same address of the service

Shareholder's mailing address

You must provide an email address, to each of the shareholders (often referred to as customers), of a newly formed company. With each e-mail address of the shareholder, it is important to note that:

  • It will appear on the public record.
  • You do not have to be an ordinary residential address of the shareholder.
  • This may be the same as the address of the headquarters.
  • If the shareholder is also a director and a secretary, then it may be the same as your service address.

Your Virtual Office London provide professional registered office address services which include directors service address and a mail forwarding address in London for a very cost effective price. Our service is designed to improve the corporate image of your business with the use of our prestigious London addresses. Using a virtual office provider such as yourvirtualofficelondon.co.uk can really help convert prospective enquiries into paying customers. Many clients see an excellent return on investment when taking out our complete virtual office package.

Oct 21, 2014
May 5, 2021

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How to find a suitable employee

The task of finding a right employee is often a major challenge. The employer should clearly formulate what they need in a suitable employee. Find more details.

Firstly, not every candidate fits every job. The task of finding a suitable employee is often a major challenge. The employer should clearly formulate what they are looking for when it comes to employees:

  • Is training necessary - yes or no - and if so, what?
  • Is work experience necessary or can it be appropriated in operating these too?
  • What working conditions prevail - shift work, night work, regular or irregular hours, overtime readiness is necessary, etc.?
  • Are special skills needed, such as certain license categories, languages, computer skills, etc.?

These and similar questions should be answered clearly and honestly. However, it should not be too far up the measure of who you accept. Employees who are continually challenged are neither happy and permanently in the company, such as employees who have to struggle daily with excessive demands.

New staff - what to consider:

As an employer, you take a lot of responsibility for your staff. This is particularly the case in the area of insurance and accounting. The contractor has therefore the need to perform some messages:- Application for an operating pointThe application may be made by phone, mail or by completing a form. All necessary information can be found in the Internet.- Notification of the company at the trade associationEvery business owner has to pay contributions for its employees in the legal professional association. Whoever is responsible for the individual depends on the industry. When in doubt, this information can be obtained via the Internet, or the Chamber of Commerce.- Registration of the employeeAt the start of employment, the employee must be notified to the competent institution. Certain sectors will have your staff report on the first day of employment, but most industries have this done over a longer period of time.If you enjoyed this article you can read more on Your Virtual Office London business blog.

Oct 18, 2014
May 5, 2021

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Do I need business interruption insurance?

To avoid any shortcomings for your business, it is a good idea to opt for business interruption insurance. This is the best step your company can take.

To avoid any shortcomings for your business, it is a good idea to opt for business interruption insurance. This is the best step your company can take, to ensure that there are no losses incurred due to an interrupted business.By getting covered under business interruption insurance, one can ensure that their business would not face any losses due to an abrupt interruption and they would be able to get the business back on track with much ease. This is mainly because the incapability to generate revenues when the business is subject to damage would be covered by the insurance. Business Interruption Insurance can be procured as an additional extra to the existing business insurance package.

When can I raise a claim?

When your business is subject to any of the above mentioned conditions, you are liable to claim a compensation fee. Based on the below mentioned factors, you may raise a claim with the insurance provider when you are not able to generate sufficient revenues.a) The margin between the estimated and actual profits, which occurs due to a business interruption.b) Reduced income due to high operating costs, such as temporary relocation, procuring goods at higher prices due to various factors etc.c) Damage to the records of accounts of customers due to which you are unable to recover revenues from them.When you raise a claim, the payment is made subject to the policy constraints. By opting for business insurance, you would be free from losses when your business is interrupted. Moreover, the chain reaction would be avoided due to which a business slips to losses and is unable to raise funds.Also, in events of shortcomings or interruptions, your business would be able to bounce back and resume with the business. However, it is best recommended that you understand the scope and limitations of the policy precisely before opting for one.Your Virtual Office London have helped thousands of small businesses progress to become successful enterprises. If you would like to discuss how we can help you please contact the team today.

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