Tag: cpba

How to fund your course the smart way

2nd September 2019

Now you can follow your dreams while not worrying about how to save up for them. Thanks to CPBA, you can have co-founded or even fully funded beauty courses! Want to pursue your career? This is how to fund your course the right way.

There are different levels

At CPBA (Candor Professional Beauty Academy) you can choose between level 2 and level 3 courses.

Level 2 is fully funded or co-founded by the government.

Level 3 is only for those who are 19 years old and above. They can apply for a loan which will cover the cost of their training. Make sure you are 19 years old before the academic year starts (from September to August.)

For EEA countries only

You are eligible for funding as long as you are a citizen of the European Economic Area (28 different countries are in EEA).

If you’ve been living in any other country apart from EEA countries in the last 3 years, you won’t be eligible for funding.

How can your course be fully funded?

If you are between the ages of 19-23 and this is your first full level 2 qualification you can apply. You can also apply if you are above the age of 24, but are unemployed, or you have a low wage (you should earn less than £15,736.50)

If you do not meet these requirements you will be co-founded.

What about the repayments?

Those who end up getting a loan will have to pay-back only when they finish the course, and once they start making more than £25,000 a year.

A repayment will stop only if your income drops below this amount. Your repayment will be 9% of what you make during the year, as long as it is over £25,000.

Check out our government funded courses here.

Most important things to do when you are self-employed in the UK

13th August 2019

Being self-employed in the UK has a lot of benefits and is recommended if you feel like you have the potential to run your own business. Here is how to become successful, what you need to sort out before starting your company, and some of the most frequent questions.

Sort your taxes

Being self-employed means paying taxes as well as your National Insurance. Everyone can do this but only up to 5 October of your business’ second tax year.

The tax year starts on April 6 and lasts till the 5 of April of the following year.

You will need to calculate on your own how much tax you need to pay, or you can higher an accountant to do this for you. Nowadays there are also some online accountants which may be a bit more affordable.

Self-employed FAQ

 What is NICs?

NICs stands for National Instant Criminal Background Check System which checks a person’s background to see if they are eligable to start their own business.

You should pay £2.95 a week for the 2018/19 tax year. Only those business which make less £6,205 in the 2018/19 tax year will not have to pay for the NI contributions.

If you are self-employed you will also need to pay the 4 NICs. For the 2018/19 tax year, this is 9% on your annual profits which you make anywhere between £8,424 and £46,350.

What is VAT?

VAT stands for value-added tax and is something which you should register if your business makes more than £85,000 annually.

Should you open a business bank account?

Try to keep your business records and finances separate from any personal affairs. Try and open a business bank account where you will pay around £6-£10/month.

Do I need insurance?

You are actually obligated by law to have an insurance policy. The fees will be different depending on the type of business you are, so it is different for everyone.

Have a look at CPBA’s government funded beauty courses here: OUR COURSES