From experience, we know that #mortgage lenders much prefer dealing with contractors who operate through their own Limited Company than Umbrella contractors.
To us, it makes sense. The tax savings, thus earning retention, of a #LimitedCompany payment structure are huge compared to working through a third party, such as an umbrella.
The conundrum we were seeing was that nothing like the percentage of contractors you'd expect to be running their own business, by comparison, were coming through the door.
Was there something we weren't privy to? I mean, other than the obvious off-shore Umbrellas who offer 90% retention, but who almost certainly destroy a contractor's chance of securing finance by operating thus?
Rather than assume, we sat down with a bona fide, long-standing #contractor accountant and asked him to spell out the differences. Just so that we were clear.
His correspondence, this article being the final of three we've produced as a result, confirmed what we thought.
90% of contractors would be better off working through their own Limited Company. Yes, there are circumstances were Umbrellas are preferential.
But by and large, Limited Company contractors are far better off, both with what they retain and the avenues of finance open to them on the back of running their own, successful small business.
Why aren't 90% of contractors operating this way? That, I'm afraid, remains the mystery. Read on, if you want to be a better off contractor today:
You'll never take home as much through an #Umbrella compared to running your Limited Company under your own steam, albeit with the assistance of an accountant.
But there are times when retention isn't the deciding factor. Testing the #contractor lifestyle out, looking for temporary work or being caught inside IR35 are all bona fide reasons for contracting in this alternative way.
What's the difference?
In essence, a PAYE Umbrella #Company is a contractor's Limited Company, but they've handed over the running of it to a third party.
The result is that the contractor retains the majority of their independence, but retain the safety net of an 'employer'.
But it can be improved.
Drawing on the Web Data Commons Microdata corpus and have identified the most common errors made in deploying schema.org with microdata, and the heuristics that data consumers can use to clean up these errant deployments.
Heuristics for Fixing Common Errors in Deployed schema.org Microdata [PDF]
The authors note that since they "cannot rely that data providers will fix their Microdata, we follow the approach of repairing the data on the consumer side."
Accordingly their focus for remediation is on heuristics that data consumers can employ, but this study can also readily be parlayed in a list of potential errors of which publishers should be cognizant when using schema.org and microdata.
For example, the call-out charts show errors related to the usage of undefined types and undefined properties; errors for the former tend, it's found, to be caused most frequently by missing slashes, improper capitalization and empty types.
Being promoted by major search engines such as Google, Yahoo!, Bing, and Yandex, Microdata embedded in web pages, especially using schema.org, has become one of the most important markup languages for the Web. However, deployed Microdata is most often not free from errors, which limits its practical use. In this paper, we use the WebDataCommons corpus of Microdata extracted from more than 250 million web pages for a quantitative analysis of common mistakes in Microdata provision. Since it is unrealistic that data providers will provide clean and correct data, we discuss a set of heuristics that can be applied on the data consumer side to fix many of those mistakes in a post-processing step. We apply those heuristics to provide an improved knowledge base constructed from the raw Microdata extraction.
Making it possible for stakeholders with disabilities and age-related limitations to access your goods and services is not only an important part of complying with federal – as well as international -- accessibility standards but also a strategic aspect of any organizational management plan.
A great number of our clients choose #LimitedCompany payment structures to operate through.
It makes absolute sense. They're separated from their debt. They're building a brand.
They build an almost tangible door between themselves as the contractor and the business that represents them.
When it comes to sending off their #contractor mortgage application, this type of structure is a Brucie bonus for us, too.
Many of the lenders we deal with have, over time, got to grips with contract-based underwriting.
Senior underwriters know what to look for in a contract so that the applicant gets the #mortgage offer their contract earnings deserve.
But there are many contractors who, perhaps because they think running a limited company is difficult, choose other ways to operate.
Granted, there are times when an Umbrella Company or the Sole Trader route makes sense.
But for most contractors earning over £30k? They're missing out, big time. Here's why »
- Florida State UniversityFSU Certified Webmaster, 2004
In 2001, I graduated from the German Academy Brueschke in Bielefeld as a Specialist for Multimedia Office Communication.
The same year, I graduated from the Academy of the German Chamber of Commerce and Industry in Bielefeld as a Web Project Manager (IHK).
Additionally, in 2003 I passed an exam at Brainbench.com in Web Design Concepts. Also, in 2003 I passed my test at Brainbench.com as a Master Web Designer for Accessibility.
In the same year, I completed an online course of study at Carleton University, Sprott School of Business in Usability Testing.Lycos Europe Inc. in various positions for two years:
- 04.2001 - 07.2001 Intranet Webmaster;
- 07.2001 - 03.2002 Ad Format Specialist;
- 07.2001 - 03.2002 Trainer for Web Design for Accessibility;
- 03.2002 - 04.2003 Lead of Usability Testing, supervising the usability tests for the European Web Development.
I also hold membership with the following professional organizations:
- algohunters.com (current)
- Search Editors (current)
- Blog Webnauts Net (current)
- Algojunkie Blog (current)
- SEO Watch Blog (current)
- SEO Workers (current)
- Webnauts Net (current)
- Semantic Articles (current)
- SitePoint (current)
- WebProWorld (current)
- SEO Workers on Google+ (current)
- Morestar (current)
- SEO Workers Labs (current)
- Article Blast (current)
- Doc Sheldon (current)
- rainvac.com (current)
- gmail.com (current)
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