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With advances in technology, it is becoming increasingly easy to launch an online business from home.You can configure your own website, sell and even receive payments directly from your site. These are the foundations that will help you create your internet business.

Types of companies on the Internet

Almost anything can be sold through the Internet. Many different online businesses from home provide services to other businesses with variables like web design tools or even accounting.A service-based business allows you to get started quickly, without having to invest in inventory. If your goal is to sell items, there are easy ways to do it without having your own shipping department. Companies – like Amazon and Commission Junction allow you to advertise your products on your site. They will only ask for a commission for what they sell. Other websites – like eBay and Etsy – allow you to create a virtual store and handle payments in your name.

Types of Income

Your online business can get different types of income, depending on its purpose. If you sell your services, you can charge clients by the hour or by the service. For example, you can announce a basic web design package for £ 99 or you can charge £ 25 per hour for work on a design. If you sell products, your income will come from the purchase price or, in the case of affiliated companies, commissions. The fees are usually calculated based on a percentage of the selling price of the article.There are several ways to get paid with your online business. Large companies create a payment gateway on their own sites and recorded with major credit card companies to receive payments online. Small businesses often use a service like PayPal or Intuit , to process payments. These facilitators payment charge a percentage of the operation of their services.

Advantages and disadvantages

The biggest advantage of operating an online business is flexibility. You can operate from your home at your convenience, without having to rent an office. It also lets you run the business from your laptop anywhere in the world where there is internet access.If you're not naturally self-disciplined or organized, be weary – running an online business takes dangers. It's easy to put off work late and lose focus on the creation of the company. The success of online businesses is to formalize work schedules and objectives to ensure that the business grow profitably.

Initial Costs

The amount of money you need to start your online business depends on the type of business. All online businesses need some kind of presence on the Internet. This requires that you configure a domain name and a website. Several providers, like Blogger and Weebly, allow you to create a site for free. This is a good option when you're starting. As your business grows, you may need the services of a web designer or programmer to expand your site. You may have to upgrade your computer or office equipment if you have not support or functional. At a minimum, you'll need a fixed computer or laptop with internet connection and a printer to print invoices and other documents.

Base

An online business can be easy to install and can also be profitable. Like any other business, an online business should focus on the basics of dealing with customers and sales in order to succeed.

Start A Business From Home

The big question is: Is it possible to create a profitable business from home with little investment of time and money? The idea of ​​developing a business from home is based on the need to find a source of extra income, possibly in the future can become your main source of income.A profitable business is one where profits exceed 60%, 80% or even 100% or more the value of the investment.So for a business to have the ability to provide a significant source of income, also you require considerable investment. The following steps are to be able to develop profitable business ideas from home that do not require much investment at first.

Identify your reasons

Answer why you want to start your own business is the first thing you should do. Want to be your own boss? Do you want to earn extra money? you not want to depend on schedules? Be careful, for example with your own business you will not have only one boss but every one of your customers will be one of your bosses. And on time, you could end up working more than necessary.

Analyse your personality

Do you have the qualities to own a business? Unfortunately not all have it, luck is however, that these characteristics can be learned. Ask yourself the following questions: Do you have what it takes to be a leader of a business? Do you like making decisions? Do you like racing? Do you have the power of self-discipline?

Acknowledge your skills

It is ideal to start an activity that you like or you highlight and which have some experience in. You will be the one who does the work, and what better to bet on an activity in which you function well and safely, or in which you want to invest time and money to learn.

Define a clear concept

Declare a unique business concept. That is, a business must have spirit, have something unique that makes it what it is. When making a business from home, despite being smaller, the same idea applies. You must define a concept of your business. It is also essential to explain what the business is dedicated. For example, say that there is a company called Artec. What sounds like the name? It could be a business education, technical services or items of art, right? That is, to do business at home, explains below the name of your business what he does. This applies, for example through a slogan.

Assess the business idea

Write on paper brainstorm of those activities that you can perform and which you can consider in your local market or online, depending on the activity. Tantea if your business idea is feasible. Describe the product or service you're selling, if you have competition or not. Analyse your market, assess the needs and desires of your potential consumers. Set the price of your product or service.

Calculate investment

With every activity you wrote do the following: Investment value of materials or costs and the percentage of profitability. For example, investment for the creation or implementation of a product where X is £ 10 and is sold at £ 18, so the yield is 80%. Select only those that have a return equal to or greater than 50% to start working on those profitable businesses from home.

Before making plans

The best advice for starting a business from home, the idea is to plan, strategies, costs, layout, location and prices, before acting hastily and having to slapping of drowning as they are presenting problems. What name you will use, what legal form you will use or bring it to carry your business personally. What licenses and permits you need. How you can protect your business from theft, or fraud you'll protect your business idea, since you may need to register a trademark.This is costly in terms of money, resources and time. Therefore, it is always better to have a business plan, which will indicate whether the business is attractive, if your business is profitable, and what strategies need to take to develop a successful business.

Could you possibly be thinking of establishing a Private organisation, limited by Guarantee? This article addresses the necessary requirements to begin the LLP company.When you are contemplating establishing a firm, it is critical to consider the kind of structure that you pick when you enlist your firm. Without a doubt, Limited by Shares Companies are the most popular type of Company structure known.It offers organisations the opportunity to look more professional and gives the opportunity to have unlimited shareholders.Be that as it may, it is essential to think of the kind of structure that would best suit your kind of business, not what is the most well-known choice. It may be worth weighing the advantages against that of another business structure – this case being a LLP (Limited Liability Partnership).

Definition

The essential meaning of a LLP is a partnership company with at least 2 individuals. Flexible terms of partnership are offered to this business type as well as taxes. It also has its own legal identity thus, if the business were to go bankrupt, the members’ private assets are protected.There are some amazing advantages of registering your firm as an LLP.

The Limited liability of its members

The title is somewhat of a giveaway truly, yet an LLP truly does provide some extremely flexible conditions for its members. This incorporates various distinctive things including:

• Without major hurdles, members can leave when they want.
• The liability of members are limited, hence the firm is a Limited Liability Company.
• By and large, an LLP provides less rigidity in modifying its internal structure.
• This can be extremely helpful as far as setting up rights, obligations and the formula to use when disbursing profits.

Tax Breaks

Members of LLP are not taxed in the same manner as members of other companies.

• LLP individuals are tagged as self-employed. This implies that National Insurance commitments are fundamentally short of what it would be in a Ltd company structure – where shareholders are tagged as “employees”.
• There are more chances to become eligible for Entrepreneurs' Relief as a Limited Company member than there are as a shareholder in organization.
• There is a higher probability of becoming eligible for Business Relief as a member of LLP.

Allocation of profits

As expressed before in this blog, one of the primary advantages of having an LLP is that it gives more room for flexibility which incorporates the way profits are disbursed to all members.

• The accommodating nature of LLP terms enables easy modification of things, as long as all members are in support.
• This also involves the allocation of share capital and profits which is somewhat easy to do.
• Conversely, a customary limited by shares structure is a great deal more inflexible and any huge modifications must be approached in a formal manner and delivered to the Companies House.

It can be useful for particular ventures

Numerous professional organisations structure themselves as an LLP – undoubtedly an extraordinary number of auditing firms, law offices and other professional organisations will form as an LLP. There are unquestionably solid foundations regarding why this is the situation.As indicated by The Brazilian Chamber of Commerce in Great Britain LLP:"is currently utilised for budgetary administrations and fund management business. It can be organized to give the administration obliged, whether close control or free regulation, and specifically it can accommodate the distinctive profit and bonus programs found in these sections"Undoubtedly, some non-profit organisations may think of an LLP plan to be better when they intend to go into a sort of joint business with an outsider. So in the event that you feel that your business may fall into any of these levels then it's definitely worth considering when forming your organisation.

Points to Consider

1. A registered office address should be provided

The registered office address will serve as the official physical location of the establishment and this is where all documents concerning the organization will be delivered to. It must be located within the United Kingdom; however, neither you nor your organization is mandated to have that address as your base – all you are mandated to do is to obtain the permission to use said location from the administrator or owner of the address. The location is usually available on public records and as such, most people prefer not to make use of their home address.

2. Add a director

• The person in charge of the daily activities of the organisation is the director. Companies Limited by Guarantee needs a minimum of one individual to work as the director. For every director of an organisation, the following information has to be provided:
• Name
• Date of birth
• Nationality
• Occupation
• Town of birth
• Colour of Eyes
• Service address – just like a registered office, this would serve as the official address of the director, which could be made public.
• Phone number
• Residential address – not to be publicised

3. Appoint a member

This is similar to a shareholder; however, the term shareholder is not applicable in this case because there are no shares. At least one individual who could also serve as the director is needed. This implies that the company can be established by just a single individual. For every member, the following information is required:

• Name
• Phone number
• Town of birth
• Service address
• Colour of Eyes

4. Appoint a secretary (optional)

If you wish to employ or appoint a secretary, it is acceptable; however, it is not mandatory. If it pleases your company to employ the services of one, the following will be required:

• Name
• Phone number
• Town of birth
• Service address
• Colour of Eyes

5. Upload your own memorandum and articles?

That is it as far as the data that you have to give… unless you decide to upload your articles and memorandum – these refer to the files that state how the organisation is to operate. It's significant that we do of course give our own files that suit the lion's share of companies. The second to the last step in the formation process offers you an opportunity to upload yours.

6. Check over everything

Every data provided by you can be crosschecked in the summary page. If modification(s) are required, select ‘change’ next to the pertinent area. When you’re satisfied with everything, select ‘Submit’ – your request to create a company will then be forwarded to Companies House. At the point, an average of 3 hours is required to form the company after which an email will be sent to you confirming the formationThat is it; all that you have to give to establish a Company Limited by Guarantee. With this, you should be able to start-up your own Limited by Guarantee Company.

Today, telecommuting or flexible work by everyone has increased. With the aid of technology, it experiences more growth by the year. In a study by Regus it was found that there are an estimated 1 billion mobile workers around the world and this year the figure rose to more than 1.2 billion.This growth is due to new technologies that can be found today, allowing us to do virtual work and minimising the need to move every day to a physical office.Furthermore, having a virtual office offers you the advantage of being able to choose from which work can be from home, a cafe, a park etc. But that's not all, since 60% ​​of employers and entrepreneurs believe that the cost of operating a virtual office is reduced by more than 50%.Many companies have found a perfect solution to flexible working to be the ability to take advantage of a virtual office to grow your business, as always at the beginning we want to reduce all unnecessary expenses and save as much as possible because it is not always possible to mount a traditional office. However, when they have changed to a virtual office they tend to find more benefits, such as changing the local address by to a more prestigious one, which brings an improvement in the image of the company.This not only helps to improve the image of your business, it offers a lot more confidence to your customers and will help to attract new contracts, not to mention other economic benefits such as saving cost for a secretary, costs for maintenance, cleaning, electricity, etc. People usually do not take this into account. Operating a physical office yourself and you will realise that the operating cost increases to the clouds.Flexible working and the use of virtual offices is growing day by day all over the world, but the problem we face is the distrust of this new modality, as it is believed to lower productivity, which is totally false, that when a person works from a place that feels comfortable this allows you to have an emotional and work-life balance, which increases productivity.At the time of hire of a virtual office, you must take into account what each business centre offers, and note that some allow you to access any of its facilities, for the instances when you will be travelling to another city. Later in this site, we will be comparing and recommending where you can get a virtual office at low cost and offers great benefits.

Virtual offices are the choice of the future?

Certainly, for many of us starting a venture, affording the physical office is not an option, and in most cases, is not even necessary. Today, many work from home, cafes, squares and other places. That is why we must rethink whether you really need to have a physical space to work.In recent studies, many experts in the field predict that the workplace as we know them today may come to an end. This is because the Internet allows us to work from anywhere in the world.These professionals, small and medium-scale enterprises (SMEs) have decided to leave behind physical work spaces and migrate to virtual offices, providing an business address and valuable office services without the overheads. Meeting with the team now is not difficult since there are means available to be used when necessary such as chats rooms, which allows us to talk to all staff that are not in the same place.The current technological development has encouraged the use of virtual offices to the point that in the UK there are more than 1 million people now work from home and this trend has expanded to more of the world and will continue to grow. A virtual office not only provides you with a physical address, fiscal, a secretary who attends to your call, but also provides a better presentation to your customers, plus it can save a lot of money compared to what it would cost you to maintain a physical office.One of the biggest concerns of people who have not opted for a virtual office is how to adapt the way you work on the internet, especially teamwork. Well that's something simple because we now have many tools for cloud computing, which allows us to work together in real time in the cloud, i.e. via the Internet, Which can generate substantial savings for small, medium and large enterprises.

Telecommuting and virtual offices are the perfect combination for success

In previous articles, we've talked about the benefits of using virtual offices. Today, hundreds of companies and entrepreneurs have opted for this new way of working, and by saying new, I mean in some developing countries, because in places like here in the United Kingdom, some people have been working from home for more than 15 years without the need for an office.Today, we will discuss a combination that may be the key to success for thousands of entrepreneurs, SMEs and independents who want to increase business productivity while lowering operating costs and most importantly, improve the quality of life of people.The new generations have been born in an age where technology, communication, internet and mobility are essential in everyday life, which implies that we will find it difficult to adapt to ever being in one place or to carry out work schedule from 9am to 5pm on a fixed office.That is why we and millions of people support flexible work mode, since this encourages new generations to have a better work performance. In a survey conducted by Regus it was concluded that 81% of companies worldwide offer options to its employees about where and when to work. Furthermore, it was found that 60% believe that telecommuting is much better than the fixed job. 70% say that this approach respects families, and 60% say it helps improve work and family life of employees.But that's not all. Other advantages in the use of telework were also found, as it helps the environment by not using a workspace, as traditionally in the physical offices. It also helps to increase employee productivity and working at their own pace and in a space where they feel comfortable.In conclusion, telecommuting and virtual offices brings great advantages for companies and SMEs, but even more for entrepreneurs who are just starting because it allows them to work from anywhere they want but with the assurance that there will be a receptionist to attend your calls, receive correspondence and of course have a physical address and if necessary, one prosecutor and a much lower cost than a traditional office lease.

Naturally, you put blood, sweat, and tears into running your business, but equal effort is needed when selling. Potential buyers do not come to your business just because you’ve put up a “For Sale” sign. If you plan on selling your business, be proactive by building a business plan that allows for both start-ups and existing businesses. Keep track of your finances, be objective, and act accordingly.

Follow these 10 steps to sell your business and provide a happy return

Have a clear reason to sell your business

If you've spent years building your business, earned millions of pounds, and want to enjoy your retirement, you're probably in a good position to sell. However, if you're in debt, running out of cash, or simply bored with your business, selling is not your only option. It is recommended that business owners also consider the following: to franchise, develop a society, merge with a similar company to go public, or to obtain a partial retirement.

Know your value

The valuation of your business is a difficult but necessary task when you decide to sell. There is no single formula to accurately determine the value of your business. However, do not judge the fairness of the appraisal based on what you think your business is worth. The value is based on criteria that can be quantified, not on personal calculation of the owner. To obtain an unbiased value, ask a third party specialist to make an evaluation.

Start with time

Selling a business takes several months, and that is if everything is in order. A great deal of planning will be involved in the process. Financial documents, such as a balance sheet and income statements, profitability, open lines of credit, and even personal problems affect both the viability of the sale and the price that the organisation will achieve in the market.

Consider hiring an agent

Some owners are reluctant to hire professional agents to facilitate the sale because they want to save 10% of these individual’s transaction fees. What they do not take into account is that the sales agents may add between 10% and 12% to the sale price. While small companies may be sold directly, some brokers have contacts with buyers that could accelerate the sale of your business or can develop a strategy to negotiate the deal. These agents are usually paid once the sale concludes.

Oversee the entire process

Meet the market. Even if you have an agent, it is important to know the recent sale prices of comparable companies. It controls whether your industry or the economy are about to fall or grow. The growth potential is key to potential buyers, who are interested in investing in an emerging market. Once you have a list of qualified buyers, you have to interview with each of them. Your interaction with potential customers will determine if your company sells.

Put your finances in order

You must have at least the last two years of your audited or reviewed financial statements and tax returns for review by the buyer. Update any pending issues with the lenders as if you hide problems or alter projections, this could affect the confidence of potential buyers. A murky financial picture of your business could ruin the agreement. Learn to set a fair price and keep an objective position at all times.

Respect confidentiality

Determine how your customers are affected. If you think you can lose many customers, you may not want to make the sale public, as it could negatively affect the transaction and the relationship with your team. You have to place the sale of your business in the market with strict confidentiality. If you are looking for a direct sale, advertise in local newspapers, business magazines, and guides to creatively market and focus on a defined group of potential customers.

Tailor your business plan

In this case, the business plan will be "your story," where you'll include the finances of your business, sales, industry projections, recent improvements, new opportunities, and other important aspects of your business. Have you had employees for 10 years? That is a useful sales tool.

Remain in business while preparing the sale

There is no reason to lower the blinds on your business without having secured financing. Take the opportunity to add value to the business. If you have rusty equipment, change it. Sell assets that do not generate income. Do what you need to increase the financial attractiveness of your assets. Selling your business can be an incentive to push harder in the last moments of the operation, which could increase sales, profits, and the selling price.

Transition plans

Many owners are focused on selling and neglect the process of transition that will happen after the deal. Some buyers insist that the former owner remain there for some time to participate in the ownership and management transition.

A few years ago, if we would have said that a company could operate and succeed in the market without investing large amounts of money in infrastructure and equipment, possibly very few people would have believed and accepted the idea. But today, in an increasingly globalised world, this statement, grouped under the term virtual offices, imposes hard and is greeted by multiple organisations in various parts of the world.Not having a physical place to work today is not an impediment to undertake, as forms of work have changed and with them the methods of doing business. It was almost unthinkable before starting a project without a place as a hub. It is now a reality due to virtual offices.These places are not just physical work spaces with an excellent image; the entrepreneur also offers basic services are in an office, such as water, electricity, telephone, and Internet, as well as providing a tax direction and sometimes even a receptionist, which will be responsible for answering calls and receive correspondence addressed to the company. Benefits differ according to the package contract.

What exactly is a virtual office?

In the "world office," the need for efficiency in space, time, and cost lead to large and small companies to wondering what percentage of the work day that the office is unoccupied. As employees spend more time outside it, in meetings and attending to customers, can you get better results? If your answers to these questions lead you to reconsider the use of his office, then why spend so much on an underutilised space?More and more employees achieve recognition based on their productivity and good results, not by the hours they spend in your office. Companies live an evolutionary process that leads to greater awareness of the changing market needs. This evolution allows the establishment of new vistas of work.The concept of a virtual office that provides business centres best describes the model of mobile office. This redefines user productivity by providing dynamic and flexible spaces. It also it offers comprehensive support services and a platform for operational and administrative support in order to help clients develop their business plans and avoid high operating costs.This term virtual office was born thanks to a style of working life influenced by a growing wave of independent economy. It is the ideal model for professionals looking to start or grow their business, offering practical solutions to national and multinational corporations requiring workspaces for employees and representatives, without the undesirable costs.At present, employees set their individual needs and work according to their methodologies, thus operating efficiently to get the desired results. A virtual office makes available a new scheme of work and responds to the needs of a global market that is constantly changing.Users of virtual offices are witnessing an evolving market that allows them to leverage a new concept of effectiveness and productivity.When we talk about this term, we refer to a virtual space in which happens similar actions to those made in a physical or conventional office, such as customer service and implementation of meetings and conferences, but at much less cost.This is because the use of a virtual office removes the risk of a higher payment for an installation, as each worker carries out his or her activities from home or from anywhere they can connect to the network without losing time in traffic jams and without suffering damages from climate change.But the benefits of virtual offices do not end there. A company that makes use of this form of work accomplishes:

• Increase productivity
• Reduced interruptions
• Manages flexible schedules
• Provides comfort to employees
• Contributes socially by providing employment opportunities for people with disabilities or difficulty moving around, elders, and heads of household

Are there disadvantages to working in virtual offices?

As in any form of work, there are points on which care should be taken not to create disadvantages:Mood of workers: Combat the sense of isolation and decay by providing support and feedback.Teamwork: It is essential to reinforce the importance of group actions and remember that the actions of one member of the company affect all others.Forms of communication: Although the Internet is the functional basis, it is necessary to have different ways to communicate if it were to be a flaw in the system.

Why use a virtual office?

Virtual offices are a service that adapts to all types of business. Most companies that offer virtual offices provide services tailored to meet individual needs.The very nature of virtual offices makes them equally attractive for both one-person businesses operating from home and multinational companies trying to make a place in an emerging market.Using a company that offers virtual offices, like many other services, depends on the needs of your business. You may not want to answer calls in general, or maybe just need a service call when it is not in the office. Moreover, you may need a service charge of communication of the company in general.

The Ideal Option for Starting a Business

Working at home is not the only option. A virtual office gives us a phone number, physical address, virtual support network management, and messaging boardroom. Flexible virtual offices are ideal for those who start small businesses or independent professionals who want to lower their costs and project a better image.This service sector presents sustained growth in the last decade. However, many people are still unaware of the virtual office concept and are losing the opportunity to leverage the immense advantages that are within reach.It`s predicted that the following trends will continue in the short term:The outsourcing boom: 25% of SMEs use external services (outsourcing) to reduce costs, optimise resources, and find solutions.Telecommuting: It virtualises and decentralized production of work, thanks to new technologies.Digital natives dominate the world: They have a new concept of culture and the use of technology, and there will be a massive impact when this generation enters the labour market.In the world there are various associations that have long been in charge of bringing together representatives of the main virtual, flexible, and shared offices sector, mainly the GWA (Global Workspace Association) based in the United States, and the BCA (Business Center Association) in Great Britain.

Why not simply use an answering machine?

It is true that a simple and inexpensive answering machine can record messages, but research shows that people tend to respond intuitively to the human voice. Many people simply hang up when they encounter an answering machine, and that contact or potential business could be lost forever. It is not only losing contact; encountering a human voice on the phone keeps the image of your company and assures its customers that it is legitimate, accessible and your call means a lot.

Virtual Receptionists

As if it were your own receptionist, the service can go further. Those important calls can be forwarded to mobile, while we can easily get rid of telemarketers and market studies if desired. Companies offering virtual offices can also initiate a phone order, help attract new customers, and increase sales, all for a fraction of the cost of a regular secretary.

Profitability

Moreover, the services provided by a virtual office will offer companies the opportunity to experiment with new projects or short-term operations where necessary and will temporarily increase resources office. Registering with the services offered by a virtual office is much cheaper and less risky than investing in new employees and equipment, especially if the project is not working.

Dissolving your limited company is the only way you can legitimately relocate your company outside the UK. In this case, the country where yo wish to relocate to must have your company registered in all it relevant records.An alternative will be to use the name of the existing company to open register a company in another company. This is legal because both companies are part of the same group. It will only take time and money, but it is achievable.However, it is good to know that neither of these is required for you to continue trading with your existing UK firm outside the UK because the operations of your company can be done wherever you like. As a matter of fact, at any location in the world, a company based in the UK can transact its business.This occurs more often with larger organizations with branch offices, hotels and shops in different countries. This is of high benefit to those company owners who wish to relocate but do not want to lose close down an established business with high client base. It is also useful for people who do not wish to restart the rigours of establishing a new firm and growing it.

Tax treatment of UK company trading overseas

If your firm starts doing business outside the UK, there will be tax implications.In reality, any office of an organization with its initial or head office in the UK will be regarded as an extension of UK trade. This implies that there will be some tax implications for your business:

• Every firm registered in the UK is mandated to pay 20% corporation tax on every gains and profits generated in the UK and beyond.
• Trade activities outside the UK can result in taxable presence in said place if you posses a permanent business facility there or you are concluding contracts at the moment in a country where you reside permanently. If this is the case, you have to register your firm with the appropriate authorities in said country.
• When profits are taxed both overseas and in the UK, double taxation relief is offered.
• This relief however, is dependent on the amount of UK tax on your profits made outside the UK.
• Losses made on trade outside the UK could be relieved against the profits made in the UK.
• As regards plants and machinery bought outside the UK, the UK capital allowances are made available.

Tax treatment of non-UK resident directors and shareholdersThere will be tax implications for income received from your company if you spend 183 days or more in a tax year outside the UK:

• If you are a director, you will still be employed because the company is still a UK registered company.
• A personal tax will have to be paid for every income received from while working in the UK, even if it is just a board meeting; but, the tax free personal allowance of £10,600 (2015-16) is still accessible by you.
• Your firm will still have to be registered for PAYE if you are still obliged to pay National Insurance and personal tax in the UK.
• On every income received from the UK, you may still be required to pay National Insurance Contributions.
• If your country of permanent residence has a double taxation agreement` with the UK, you will be able to claim tax relief on your income received from the UK.
• Asides the notional 10% tax credit, you will not be required to pay any further tax on dividends receives on shares in a UK company as a permanent non-resident. This is as a result of the fact that the company would have already paid the corporation tax on the money. Under normal circumstances, the money you can receive and keep is the net sum of the issued dividend sum.
• If you are liable for income tax in the UK, a self assessment tax return will still be required of you to be filed stating your dividend income. You have to report it even though you won`t be taxed on it.

Am I a UK resident or non-UK resident?The amount of time you spend in the UK during a tax year will determine if you will be liable for UK tax on foreign income.The amount of time spent within the UK during a tax year (6th – 5th April) determines your status as a UK resident.

• Automatically UK resident:

If you spend 183 days or more in the UK within the tax year.Your only home is located in the UK – you are required to have lived in a your own or rented apartment in the UK for at least 91 days. It is also required of you to spend at least 30 days there within the tax year.

• Automatically non-resident:

If you stay in the UK for a period shorter than 16 days; however, if you have not be classified as a resident of the UK in the last 3 years, you will not be classified as a resident if you spend less than 46 days on your current stay.If your full time work is outside the UK (minimum of 35 hours/week) a period shorter than 92 days is spent in the UK an out of which not up to 31 days are spent working.At you initial travel outside the UK, a split-year treatment will be adopted for you. The first will be non-resident while the second will be resident. Based on the time you spent in the UK during the tax year, the UK tax on foreign income is what you will be liable for. This will directly be applied via PAYE when your Self-Assessment tax return is filed.

When you are thinking of freelancing, everything seems advantageous due to the following:

• Flexible schedules.
• Having a business.
• Be your own boss.
• Work remotely from home or from anywhere else.
• Choose the projects you want to work.

However, when you really start, you realise that being freelancer has some drawbacks. One of the clearest examples is the hours of work, because you work much longer hours than any worker employed. While you can work on projects that you like and you get a job, it is not nearly brainer.In this guide you will find the main challenges that await you working as a freelancer. Note that we do not intend to discourage you; we just want you to bear in mind what reality you will face from now on.

1- Doing business is not easy

Especially if it is not your job. When you are alone, getting new projects is complicated. You'll have to spend some of your time and your energies to find new projects.It is also very difficult to get projects regularly. You'll have 5 times more projects at some point and others in which you are not going to work on either. The challenge is to get some stability.

2- The price, the big question

One of the great existential questions of any freelancing is its price, i.e. what your hours are worth. It is a fine balance between being competitive and being able to pay yourself a salary, which is not easy to find however, setting the right price is a matter of time, you'll soon find your personal strategy.

3- Self-motivated is essential

When you work alone with no one to pat you on the back, it is so important to motivate yourself. In our blog we always try to talk about things that can help you achieve that, but one thing is clear: taking care of your health and your mind is essential.

4- Productivity

Another key to success of any freelance is the productivity. Schedules of work at home may be chaotic if you do not control it. Getting the most out of every hour of work is essential for a living and do not spend 24 hours a day working.

5- Nobody pays budgets

Learning to answer your budgets quickly, effectively and professionally is key to getting projects. Unfortunately, the reality is that 75-80% of your budget will not prosper and the time you have dedicated to them (sometimes hours or days) cannot be recovered.

6- Nobody pays for holidays

As a freelancer, your business is mainly based on selling your time. If you're not on the ball because you're sick, you want to take a few days or you leave on vacation; nobody is going to pay for your time.

7- In search of business model

Finding new ways to generate revenue is important for survival. Many freelancers choose to add training to its portfolio of services and it is something interesting to enjoy some stability.But there are other alternatives that are less directly related to the time freelancer, such as: selling digital products (eBooks, online courses), the sales services as products or affiliate marketing.

8- Staff-work balance

The fact of working remotely allows you to work anytime and anywhere, making it difficult to draw the line between your professional life and work. Define when you finish your work hours, as your personal time begins then and this is a major challenge.

9- The maturities

There are many projects that are not going to charge (even a part) until it's done. In fact, in most cases, you're not going to charge for your work until 60 or 90 days after issuing the invoice. These are unfortunately maturities that most companies handle.

10- Multitasking

When you work as a freelancer, you have to do everything. You need to sell, manage a business, to support existing customers and find hours to deliver projects that you have in hand. It is essential to have the agility and flexibility to make these changes quickly and effectively.

11- Learning to manage your business

Being a freelancer means having your own business, so you have to manage your billing, file your tax returns, control your spending etc.

12- Taxes

More than half of all your invoices used will be taxed. The conditions we face as freelancers are the toughest in Europe. When you do your numbers, you must take into account that there is a big difference between what you can bill and what you can charge as a freelancer.

Conclusion

Freelancing is a big challenge, but it's a really exciting lifestyle. It is a way of understanding the world and tailoring your work to your life rather than the other way round. So we hope this guide will help you to anticipate and foresee.

The use of virtual offices has been very popular for more than a decade now.Office rentals of this type have been invaluable, especially for entrepreneurs and SMEs who decide to start a business.Here are some tips when renting offices like this:

Location

Choose a virtual office that is located in a populated area easily accessible to your customers, partners and employees.Look for a building that is attractive, as this will boost its corporate image. Check the quality of the training rooms and boardrooms. Do not be swayed by images of websites; check the condition of the company offices.

Space

It is important that you evaluate specific areas of the rental company offices and choose professional space that will impress partners, customers, suppliers, and prospects. Generally, companies will offer offices for rent, as well as a few hours of meeting rooms and training rooms per week.

Availability

If the firm has rented virtual offices to other businesses, you probably do not have the use of training rooms or meeting rooms. If this is unavoidable, you can opt for a satellite assembly that can be used for meetings.

Ability to Publicise

Another thing to consider when renting an office is the right to use the e-mail. You want to be able to announce the address on your web site and promotional materials. Ask about the fees the firm charges for this. Some companies renting virtual offices also offer the use of a tax direction.One of the most important tips for renting office of this kind is to verify if your company logo can be placed in the lobby or waiting room, as this will be an important element to highlight its corporate image. You may have to pay an additional fee for this item.

Amenities

One of the basic things you should consider when renting virtual offices is if you are offered parking spaces for your customers or suppliers. Ask about the use of community office equipment (fax, photocopier, wireless Internet, scanner) and basic office supplies. Check whether the boardrooms and training rooms come with video equipment and furniture.Check the rates to rent offices via the Internet. Today, there are rental companies renting furnished offices and virtual offices that offer high quality and are easily accessible through internet rates.

Virtual Offices Indispensable Tips

When you do not have the economic infrastructure to start your business, you should not delay the launch of your company. Look for a better option in virtual offices.The office rent is an excellent choice when opening a business because of its indispensable class facilities, personalized attention, and services included at a low cost.The high cost offices pay in rent has impeded growth and the opening of new businesses and SME companies. The opening of new property markets has developed and promoted the use of new concepts that reduce the economic cost. These properties are virtual offices.It is estimated that a large percentage of new entrepreneurs have promoted and increased their return on investment income from virtual offices. In the case of the United States and Europe, virtual offices for new businesses or companies are not a new concept.According to experts, it is believed that entrepreneurs spend 50% or more to rent offices equipped and furnished. Traditional buildings are old-fashioned, especially if what you want is success and ROI.One of the main reasons why a SME does not survive the first year of life is operating expenses. Conditioning or adapting a rental office building represents indiscriminate spending to increase corporate business image.Did you know that? Through virtual offices, you get an equipped and furnished business centre at a low cost compared to traditional offices. Providing a business address in London without actually renting office space will provide an excellent corporate image on the web, personalised attention to its customers, and will focus the budget.Through the rental of virtual offices, entrepreneurs can improve their economic situation and increasing job vacancies in certain sectors.Virtual offices get other optional benefits or services that are not included in your monthly rent. Some of the extra services offered by virtual offices are:

• Receiving phone calls
• Correspondence management
• Broadband Internet
• Maintenance service 24 hours a day, 365 days a year
• Rent per hour boardroom

In previous articles we've talked about the benefits a virtual office can offer; since we know that operating a physical office can cost big money, not just to pay the rent, but also to equip it. This may be an unnecessary expense, especially if your working model does not require a physical office.Today, thanks to new forms of communication, it is easier to run a business from anywhere in the world, even from home. For entrepreneurs this is one of the best options to start a business because they do not require you to pay rent, or telephone services, internet, electricity etc. because you already have them in your own home. However, although using this method of working can bring many benefits, primarily economic, you can also have disadvantages. The main one is that it can reflect an unprofessional image to your clients or potential investors.The use of virtual offices is not new, because in places like the United States and Europe, this model of work has been used for more than 15 years. But what makes this so popular among SMEs and entrepreneurs is that it can give you everything that a physical office gives, but without the office. In the world there are thousands of companies that offer virtual office service, which will get benefits such as answering calls, managing your correspondence and mainly commercial and fiscal use of an address. Another advantage is that you have a choice between hundreds of prime locations.

• How to know if a virtual office is what I need?

This is one of the most common questions among entrepreneurs and small businesses. If what you want is to give formality to your business without the need to spend large sums of money, then a virtual office is the best option, since the monthly cost of a virtual workspace is usually between £40 and £200. The price will depend on what your business needs. It`s just a matter of comparing between all options offered by the current market.If you started with a physical office you can also step into a virtual office, you only need to identify your working method, how much time you spend in the office; you need to have a physical space in the right place to reflect the image you want. The reason is because even a space that is totally yours, if not located in the correct place or not equipped properly, will simply not give the necessary confidence to your customers.This is where the use of a virtual office again comes in. As most of the business centres allow you to use their facilities as a meeting room so you can have meetings with your customers, imagine the image you will reflect when your clients cites a major corporate building, this is something most business centres can offer you.

• Virtual Office: No more traffic to get to work

The big problem we suffer daily in virtually every city in the world is the problem of traffic, which makes your daily commute time last longer than an hour or even more. This doesn't even take into consideration the extra time it may take if there is any construction on our way.This has been one of the main reasons why many professionals, entrepreneurs, small and medium enterprises have chosen to use virtual offices. There are many success stories where people work mainly at home or in public places like cafes and do not require a traditional office, but the services have commonly, this is the perfect case for using virtual offices.That's why we emphasise the use of this model business for a decade has grown by leaps and bounds around the world, allowing you to have a secretary, a physical address, receiving mail and even allows you to use the facilities if required. And best of all is that a virtual office will cost up to 90% less than physical office and with the same services.If you work alone or you usually do at home, the best option is to hire a virtual office because it will allow you to continue working from anywhere you want but with the assurance that someone will be able to take your messages and answer your customers` calls. Plus they have an office which gives a much more professional image to your business and help you close more deals with your customers.The business trend of the past year clearly showed that thousands of people have started opting for virtual offices, as currently, there are dozens of companies` business centres that offer this service, many of which have offices in major cities, so it is certain that there will always be a virtual office near you.

• Defining Virtual Office

Today, we have started this site which is dedicated to providing the most useful and relevant information about virtual office, this site will find everything related to business centres around the world.The definition of virtual office can be described as a virtual and intangible place which business tasks are carried out as if it were a physical office. Mainly virtual offices are focused on serving customers, i.e. a virtual office can offer products and services without the use of traditional media, which can be much more efficient, since customers can access the information or services 24 hours a day.What is a virtual office? Virtual offices are mainly focused on multinationals, medium and small enterprises as well as for professionals and entrepreneurs who want to reduce costs and have an address for their company or business. Virtual offices are very common to have a presence in several places, without the need for a physical space, which often tends to be very expensive.One of the great advantages in addition to those already mentioned, is that you run a business from anywhere in the world, with a virtual office and have a place where your customers can communicate without the need to use a virtual office. Currently, virtual office service can be hired at much lower costs compared to maintaining a physical place.Today, there are thousands of companies of services such as business centres that offer virtual office packages to suit the needs of their customers and many of them allow you to make use of conference rooms and physical places to receive your customers.Undoubtedly, choosing a virtual office if you are starting with your business or if you want to have presence in other cities is a major move. This is because it can help you reduce cost to the minimum compared with a virtual office.

The UK has a lot of competition in every type of industry. Keeping it in mind, it`s very important to make sure that your company stands out from the copycats and corporate wannabes. But how can you achieve this? The most important thing about brand recognition is content. What are you producing which no one else is? Perhaps you are offering excellent industry insights via company blog, or amazing original graphics and images on the website. Such content draws customers like bees to honey. You have to simultaneously think about how the content which you are creating is protected. After all, what can stop the competitors form copy pasting your content on their website? In this battle of defending your content, the ultimate weapon is copyright protection. But what is copyright protection? And, how it works?

What is copyright protection?

We will cover the basics first. The UK Government says that, copyright is a type of intellectual property protection which automatically applies to the original and creative work from the moment of its creation by a collective or any individual.Unlike trademarks, designs and patents, there is no specific requirement to register or apply for copyright protection. It should also be noted that there is no need of marking original work with copyright symbol in order to protect it. This is because protection in the form of Copyright, Designs and Patents Act 1988 is already available.Having said that, you may find it worthwhile to register the work, in case you have suspicion that someone may try to use your work or claim to it to be their content. As long as you are able to give irrefutable evidence of you being the lawful owner, infringement claims can be easy to resolve resulting in better protection for you work.Any work which has copyright protection should not be performed, distributed, copied or used by anyone other than the owner. Doing so will have legal repercussions. The protection also makes sure that the works are not adapted or replicated – nor are they put on internet without explicit permission of the creator.

What does copyright protect?

Following different types of works are protected by the Copyright, Designs and Patents Act 1988:

• Original literary works – these include song lyrics, manuscripts, articles and manuals.
• Original non-literary works – these include computer software, computer programs, and web content and data bases.
• Works of Art - like design and architecture, photographs, paintings, diagrams, illustrations, logos, cartography and technical drawings.
• Music and sound recordings.
• Dramatic works like dance and plays.
• Television and film recordings.
• Cable programs and Broadcasts.
• Typography of any published literary, musical and dramatic work.

Even if one of your works fit snugly in one of the mentioned categories, it is important to point out that several exemption rules which relate to copyright protection exist.

What are the items exempt from copyright protection?

UK Government issued comprehensive new guidelines which outlined the situations in which it is ok to use someone else`s work. These guidelines were issued in October 2014. According to the lawmakers, the following are usually considered to be exempt from copyright protection:

• Personal copies with purpose of private use: Modernization of copyright act has resulted in allowing the people to make some private copies of different media which they had bought. Copies may be made for different purposes like keeping a backup or format shifting. This means that consumers have the right to transfer their personal CDs into the mp3 player, and copyright law will not be violated.
• Quotation: Law provides freedom for people to quote other peoples work. But it has to look reasonable and fair. Also full attribution should be given. Such replication will not break the law.
• Private Study and Research: It is allowed for individuals to copy films, broadcasts and sound recording for research without getting the permission from holder of copyright.
• Data-mining and Text: Changes in copyright law have resulted in individuals being enabled to copy items for purpose of analysis on computer. The exemption is only applicable for non-commercial purposes.
• Caricature, pastiche or parody: A limited and reasonable use of creative work is allowed for entertainment purposes. A good example can be, use of several lines from a song in its parody sketch. It will not violate the copyright law.
• Training or education: Teachers can use content by displaying or copying, for the purposes of education.
• Preservation and Archiving: Recently law was changed in order to make it easy for the libraries, museums and archives to preserve collections. They can copy all the creative works which they have in their collection, with the goal of preserving it for future.
• Accessible formats for disabled individuals: Many changes have been made in order to provide access to disabled individuals. They are allowed making one copy of the copyright works for personal use by a disabled person. It is also allowed for charities to make copies for disabled people.
• Public administration: It is permitted for the public bodies to share online some third party materials which have copyright protection. The most common item will usually be information which is sent by a business for purposes of maintaining a public register.

You can read the UK Government`s complete briefing on exemptions related to copyright, in order to be sure regarding use of your work under mentioned circumstances.

How long does copyright protection last?

There is a different duration of protection for different types of work. It also depends on the date of creation of work.

• Artistic works: Artistic, literary, musical and dramatic works enjoy protection of 70 years after death of creator or author.
• Sound recordings: They are protected for 50 years after creation.
• Broadcasts: They have a protection of 50 years after the first broadcast.
• Films: Movies and films have a protection of 70 years after the last death of the author of screenplay, author of dialogue, composer of music made for the film or the principal director.
• Typographical arrangements: Such content has a protection of 25 years after the initial publication

Is copyright protected worldwide?

Different countries have different types of copyright laws. However, a minimum level of protection exists as a result international conventions like the Berne convention. The owners of intellectual property in any of the countries which are party to Bern Convention enjoy the same protection and rights which are agreed in the convention. The owners also enjoy the protection offered by the laws of the individual countries.

How can I stop people from using my work?

You, yourself are responsible for defending the copyright infringement of your materials. You can take some steps, if you believe that someone is using your work without your permission. First, thing you should do is to check if the person or organization who is using your content has the license to do so, or if they have applied for the license. You can check this on the official license register of the Government. It contains all the creative works which are orphaned, meaning their owners could not be identified. It often happens that people apply for the license, if they want to use a protected work, but they are unable to find the copyright holder.In case there is an application for your work:

• You can seek to have the application stopped.
• You can claim to get license fee which was paid.

If the work is not on register, you should contact the individual who is using the content and tell him that the work is your property. You can tell them to stop the use, or provide them with written permission for the use of work. You can take legal action in case they don`t stop using your work despite your disapproval.

Can I license or sell my copyright?

Being owner of the copyright, you are entitled to license the use of your work. You also have the right to sell or transfer the copyright to anyone else. You will be required to register the work with some licensing body before being able to license it to allow someone else using it.The licensing body will be collecting the royalties on your behalf and you will be able to control how the work is used. In case you want to sell or transfer your copyright, you should make a document which will serve as evidence of the transfer or sale.

Can I copyright a company name?

No, unfortunately names cannot be copyright protected. However, you may be able to copyright a design or an artistic logo which has your companies name on it. The ideal way to protect the name of your business is to get it incorporated as a limited company with the Companies House. It will prevent people from registering a company with that name. You may also protect your companies name by getting it registered as trademark.