If you're self-employed, you have to submit a self-assessment tax return to HMRC every year to make sure you pay the right tax. You only have to pay tax on the profit that your business makes, not your total earnings. To calculate this, just deduct your business expenses from self-employed income. You can also claim a discount on the money you have invested in the tools needed to run your business known as capital allowances. And you can deduct any losses from the previous year. As well as t...

It wasn’t long ago that the status quo was to work from an office, and the idea of working remotely was a pipedream. 2020 changed things, and with the arrival of COVID-19 and social distancing, many businesses turned to remote work. Since it seems to be working out pretty well, it’s possible that this new way of life is here to stay. There are pros and cons to working from home — on one side, you get to design your ideal workspace and be closer to your family during your wor...

Every organization employs different personnel such as - full-time, part-time employees, consultants, freelancers, contractors, etc. They provide their services in exchange for monetary compensation and are said to be on the company payroll system. A payroll management system is a software that manages the payments of employees in an organization. However, it is not just limited to the salary. It also involves various steps such as calculating the basic salary, tax deductions, incentives, Pro...

In the given time, it has become a necessity to redesign the hiring process to recruit remote employees and then manage and retain those employees for a long period. As COVID-19 continues, the majority of employers have switched to a remote workforce. To recruit talented employees that you're confident will bring a lot of contributions to the company has become harder than ever. Especially, the first few days of the job can be a bit overwhelming with the introductions, training, first ass...

Staff augmentation has turned to be the most buzzing word, attracting businesses to hire remotely. According to SAP Fieldglass, ‘’ Employees now represent only 58% of workforce spend, with the other 42% going to external resources* – contingent workers like independent contractors and freelancers as well as services providers like consulting firms or marketing agencies.' While it is a great idea to hire freelancers and consultants, managing them is a pain! What is sta...